Missouri Constitution Article VI Sec. 26(a) – Limitation on indebtedness of local governments without popular vote
No county, city, incorporated town or village, school district or other political corporation or subdivision of the state shall become indebted in an amount exceeding in any year the income and revenue provided for such year plus any unencumbered balances from previous years, except as otherwise provided in this constitution.
Terms Used In Missouri Constitution Article VI Sec. 26(a) - Limitation on indebtedness of local governments without popular vote
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.