Missouri Revised Statutes













Chapter 67

Political Subdivisions, Miscellaneous Powers

←67.471

Section 67.473.1

67.475→

August 28, 2015

Funds to be created--use of funds--use of balance upon completion of improvements.

67.473. A separate fund or account shall be created in the city treasury

or county treasury for each improvement project and each such fund or account

shall be identified by a suitable title. The proceeds from the sale of bonds

and temporary notes and any other moneys appropriated thereto by the

governing body shall be credited to such funds or accounts. Such funds or

accounts shall be used solely to pay the costs incurred in making each

respective improvement. Upon completion of an improvement, the balance

remaining in the fund or account established for such improvement, if any,

shall be credited against the amount of the original assessment of each

parcel of property, on a pro rata basis based on the amount of the original

assessment, and with respect to property owners that have prepaid their

assessments in accordance with section 67.463, the amount of each such credit

shall be refunded to the appropriate property owner, and with respect to all

other property owners, the amount of each such credit shall be transferred

and credited to the city or county bond and interest fund to be used solely

to pay the principal of and interest on the bonds or temporary notes and the

assessments shall be reduced accordingly by the amount of such credit.



(L. 1991 S.B. 8 § 11)



Effective 4-3-91







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