Missouri Revised Statutes
Chapter 100
Industrial Development
←100.040
Section 100.050.1
100.059→
August 28, 2015
Approval of plan by governing body of municipality--information required--additional information required, when--payments in lieu of taxes, applied how.
100.050. 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)
*(Transferred 1967; formerly 71.803)
2005
2003
1991
2005
100.050. 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, junior college
district, county, or city affected by such project except property assessed by
the state tax commission pursuant to chapters 151 and 153, RSMo;
(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, junior 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, junior college district, county, or
city in proportion to the current ad valorem tax levy of each school district,
junior 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, 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.
2003
100.050. 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, county, or city
affected by such project except property assessed by the state tax
commission pursuant to chapters 151 and 153, RSMo;
(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, 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, county, or
city in proportion to the current ad valorem tax levy of each school
district, county, or city.
1991
100.050. 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.
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