Section 12.9 Current Indebtedness

• Library: Local Government Deskbook (2017 Ed.)

1. (§12.9) Current Indebtedness

The county commissions of first and second class counties may borrow money in anticipation of the collection of taxes and revenues for the current fiscal year as permitted by statute. Fulton Nat’l Bank v. Callaway Mem’l Hosp., 465 S.W.2d 549 (Mo. 1971). The amount of loans can never “exceed ninety percent of the estimated collectible taxes and revenues for the year yet uncollected.” Section 50.060, RSMo 2016. The county commission is to execute warrants of the county to the lenders for all money so borrowed as evidence of the debt. Id.

Section 50.065, RSMo 2016, increases the authorized debt limitation...