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Section: 100.0050 Approval of plan by governing body of municipality--information required--additional information required, when--payments in lieu of taxes, applied how. RSMO 100.050


Published: 2015

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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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