HB 1321 -- Neighborhood Improvement Districts

Sponsor:  Schaaf

This bill states that bonds issued for neighborhood improvement
districts after August 28, 2004, cannot be issued for a term
longer than the useful life of the improvement for which the
bonds are being issued.  The useful life of the project will be
determined by the project supervisor.

The bill also requires that any proposed improvement will include
provisions for its maintenance.  The bill requires that the city
or county enter into an agreement with the district regarding the
apportionment of the maintenance costs.

In the event that any parcel of property within the district is
divided into more than one parcel after the final costs of the
improvement are apportioned, all remaining costs assessed to the
original parcel will be recalculated and divided proportionally
to each of the parcels that result from the division.  No parcel
of property which has had its assessment paid in full can be
reassessed or have its initial assessment changed.

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