HB 1225 -- Subdivision of Land by a Municipality

Sponsor:  Johnson (47)

This bill requires a municipal council to accept from a developer
either an escrow secured with cash, an escrow secured with an
irrevocable letter of credit, or a surety bond in lieu of the
completion of work on the installation of utility facilities in a
subdivision.  Under current law, the council may accept a surety
bond for this work.  The bill allows for the release of the
escrow or bond by the city when the title of the subdivision
property is transferred to a new developer.  The new developer is
responsible for the replacement escrow or bond.

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:15 am