Missouri Constitution Article VI Sec. 26(f) – Annual tax to pay and retire obligations within twenty years
Before incurring any indebtedness every county, city, incorporated town or village, school district, or other political corporation or subdivision of the state shall provide for the collection of an annual tax on all taxable tangible property therein sufficient to pay the interest and principal of the indebtedness as they fall due, and to retire the same within twenty years from the date contracted.
Terms Used In Missouri Constitution Article VI Sec. 26(f) - Annual tax to pay and retire obligations within twenty years
- 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.