☰ Revisor of Missouri

Title VII CITIES, TOWNS AND VILLAGES

Chapter 100

< > Effective - 28 Aug 2007, 4 histories, see footnote (history) bottom

  100.050.  Approval of plan by governing body of municipality — information required — additional information required, when — payments in lieu of taxes, applied how. — 1.  Any municipality proposing to carry out a project for industrial development shall first, by majority vote of the governing body of the municipality, approve the plan for the project.  The plan shall include the following information pertaining to the proposed project:

  (1)  A description of the project;

  (2)  An estimate of the cost of the project;

  (3)  A statement of the source of funds to be expended for the project;

  (4)  A statement of the terms upon which the facilities to be provided by the project are to be leased or otherwise disposed of by the municipality; and

  (5)  Such other information necessary to meet the requirements of sections 100.010 to 100.200.

  2.  If the plan for the project is approved after August 28, 2003, and the project plan involves issuance of revenue bonds or involves conveyance of a fee interest in property to a municipality, the project plan shall additionally include the following information:

  (1)  A statement identifying each school district, community college district, county, or city affected by such project except property assessed by the state tax commission pursuant to chapters 151 and 153;

  (2)  The most recent equalized assessed valuation of the real property and personal property included in the project, and an estimate as to the equalized assessed valuation of real property and personal property included in the project after development;

  (3)  An analysis of the costs and benefits of the project on each school district, community college district, county, or city; and

  (4)  Identification of any payments in lieu of taxes expected to be made by any lessee of the project, and the disposition of any such payments by the municipality.

  3.  If the plan for the project is approved after August 28, 2003, any payments in lieu of taxes expected to be made by any lessee of the project shall be applied in accordance with this section.  The lessee may reimburse the municipality for its actual costs of issuing the bonds and administering the plan.  All amounts paid in excess of such actual costs shall, immediately upon receipt thereof, be disbursed by the municipality's treasurer or other financial officer to each school district, community college district, county, or city in proportion to the current ad valorem tax levy of each school district, community college district, county, or city; however, in any county of the first classification with more than ninety-three thousand eight hundred but fewer than ninety-three thousand nine hundred inhabitants, or any county of the first classification with more than one hundred thirty-five thousand four hundred but fewer than one hundred thirty-five thousand five hundred inhabitants, if the plan for the project is approved after May 15, 2005, such amounts shall be disbursed by the municipality's treasurer or other financial officer to each affected taxing entity in proportion to the current ad valorem tax levy of each affected taxing entity.

­­--------

(L. 1961 p. 189 § 5, A.L. 1983 S.B. 316, A.L. 2003 H.B. 289, A.L. 2005 H.B. 58 merged with H.B. 186 merged with S.B. 210, A.L. 2007 S.B. 22 merged with S.B. 233)


---- end of effective  28 Aug 2007 ----

use this link to bookmark section  100.050


 - All versions
Effective End
100.050 8/28/2018
100.050 8/28/2007 8/28/2018
100.050 8/28/2005 8/28/2007
100.050 8/28/2003 8/28/2005

Click here for the Reorganization Act of 1974 - or - Concurrent Resolutions Having Force & Effect of Law
In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions End Report

Site changes Pictures Contact

Other Links
Legislative Research Oversight MOLIS
Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House