- Introduced -

SB 1177 - This act modifies sections of Chapter 393, RSMo, the breakdown of the act is as follows:

SECTION 393.705 - Provides a definition for "participating municipality", modifies the definition of "project" to include the improvement of any utility facility or property including, without limitation, transmission and distribution systems, and all other types of utilities and revenue-producing facilities as deemed appropriate by the governing bodies of the contracting or participating municipalities. The reference to project facilities being "used and useful" has been eliminated.

SECTION 393.710 - Applies the term "project" as it has been defined in Section 393.705; other technical changes are made.

SECTION 393.715 - The general powers of a commission are modified here, to be exercised for the benefit of its contracting members.

SECTION 393.720 - Added language that emphasizes the restricted purposes of joint municipal commissions to serve their public entity members.

SECTION 393.725 - Technical changes primarily to accommodate the possibility that a single joint commission may be involved in financing separate projects serving different sets of municipal utilities, which would need segregated financial treatment.

SECTION 393.730 - Added language that reiterates the requirement of sufficiency of project revenues to secure repayment of joint commission bonds.

SECTION 393.740 - Authorized participating entities to apportion any tax obligations among themselves.

SECTION 393.745 - Incorporates reference to potential delegation of board authority to its executive committee.

SECTION 393.760 - Permits a joint commission and remaining municipalities involved in a joint project to proceed with the project without the involvement of any proposed participating municipality in which the majority of voters fail to approve the issuance of municipal bonds. Changes to ballot language are included here.

SECTION 393.770 - Clarifies that revenue the joint commission derives from any and all services of its interest in a project may be available for bond repayment, and that joint commission sales of energy or other commodities to a municipal utility do not constitute a debt or obligation of the municipality payable from any other source other than its utility operations.

MEGAN CRAIN