|SB 0502||Creates the Exhibition Center and Recreation Facility District Act for certain counties|
|LR Number:||1763S.01I||Fiscal Note:||1763-01|
|Committee:||Ways and Means|
|Last Action:||03/18/03 - SCS Voted Do Pass S Ways & Means Comm. (1763S.03C)||Journal page:|
|Title:||SCS SB 502|
|Effective Date:||Emergency Clause|
SCS/SB 502 - This act creates the Exhibition Center & Recreation Facility District Act. The act enables citizens of Boone, Buchanan, Camden, Jasper, Jefferson, Miller, Morgan, and Newton counties to petition to create an exhibition center and recreation facility district. At least fifty property owners in the county must sign the petition.
The petition must include the petitioners names, a description of the district's boundaries, and the name of the proposed district. Once the petition is filed, the governing body may approve a resolution to the create the district. Following a public hearing, the governing body may adopt an order establishing the proposed district. Certain additional provisions are provided for Boone County in the case that no voters live within the district.
A Board of Trustees is created to administer any district created and the expenditure of revenue that accompanies such district. The governing body of each county within the district shall appoint four residents from the portion of the county within the district to serve on the board. The Board will have the power to have a seal, sue and be sued, enter into contracts or other agreements affecting the affairs of the district, to borrow money, to issue bonds, to acquire and dispose of real and personal property, to refund bonds without an election, to manage the affairs of the district, to hire agents, and to amend and adopt bylaws.
The district may submit to its voters a sales tax of up to one-half of one percent. The act includes ballot language to that effect. The act also includes the creation of a fund to receive such sales tax revenue and instructs the Director of the Department of Revenue to authorize disbursements to the district. The tax shall be reduced automatically to a rate of one-tenth of one percent after twenty-five years unless an extension is voted upon by the voters in the district.
This act makes a technical change to delete the requirement that the treasurer make the disbursements in the case of an overpayment, as such is not required for non-state funds.
This act is identical to HCS/HB 144 (perfected)(2003).
The act contains an emergency clause.