SECOND REGULAR SESSION

HOUSE BILL NO. 1776

96TH GENERAL ASSEMBLY


 

 

INTRODUCED BY REPRESENTATIVES BARNES (Sponsor), KELLY (24), FLANIGAN, ELLINGER, SOLON AND OXFORD (Co-sponsors).

5914L.01I                                                                                                                                                  D. ADAM CRUMBLISS, Chief Clerk


 

AN ACT

To amend chapter 108, RSMo, by adding thereto one new section relating solely to local government appropriation bonds.




Be it enacted by the General Assembly of the state of Missouri, as follows:


            Section A. Chapter 108, RSMo, is amended by adding thereto one new section, to be known as section 108.1101, to read as follows:

            108.1101. The governing body of any local government that issues any appropriation bond shall provide insurance that repays such bonds in the event of default on such bonds by the local government.