Section 242.485 - Additional bond issue authorized, when - form of ballot1. The board of supervisors may, if in their judgment it seems best, issue additional bonds which do not exceed ninety percent of the amount of new taxes levied pursuant to paragraph 2 of section 242.450. The funds derived from the sale of said bonds shall be used only to pay the costs of replacing, repairing, and reconstructing the drainage works and improvements called for and completed pursuant to the plan for reclamation originally adopted by the board of supervisors.2. The board of supervisors shall issue such additional bonds only if, at a meeting called for such purpose, the issuance of the bonds obtains the approval of the owners of two-thirds of the acreage in the district having benefits assessed against it. The owners of property within the district shall vote at such meeting in the manner provided in sections 242.150 and 242.160.3. Notice for the meeting referred to in paragraph 2 shall be in substantially the following form: NOTICE OF MEETING OF ______ DRAINAGE DISTRICT |
Notice is hereby given to owners of land and other property in ______ drainage district of Missouri that a meeting will be held on ______, 20______, at ______ o'clock at ______ in ______ County for the purpose of approving the issuance of bonds to finance the cost of replacing, repairing and reconstructing the drainage works and improvements called for and contemplated in the plan for reclamation originally adopted by the board of supervisors, and transacting such further business as may come before said meeting. The meeting will be open to the public. |
Done by order of the Board of Supervisors this ______ day of ______, 20______. |
| __________________ |
| Secretary of the Board of Supervisors |
4. The secretary shall cause the notice of the meeting to be published once a week for two consecutive weeks in some newspaper published in each county in which lands of the district are situated, the last insertion to be at least ten days before the day of such meeting.5. The bonds shall be issued in all other respects pursuant to and in accordance with the provisions of section 242.480.