SB 1131 Revises requirements for joint municipal utility commissions and projects
LR Number:4342S.01I Fiscal Note:4342-01
Committee:Commerce and Environment
Last Action:04/18/02 - Voted Do Pass S Commerce & Environment Committee Journal page:
Effective Date:August 28, 2002
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Current Bill Summary

SB 1131 - This act removes a joint municipal utility commission from being considered a corporation subject to oversight by the Public Service Commission (Sections 386.025, 393.295 and 393.765).

Bonds issued by a joint municipal utility commission may be sold at a public or private sale and at such price as the commission shall determine (Section 393.725).

All property acquired as a result of the bonds shall be subject to taxation only to the same extent as other property owned by the municipality in proportion to the municipality's interest or participation in the property (Section 393.740).

These provisions are contained in CCS/SCS/HB 1402 (TAT) (2002).