|SJR 039||Polit. Subdiv. May Become Indebted by Simple Majority Vote|
|LR Number:||S3531.01I||Fiscal Note:||3531-01|
|Committee:||Ways and Means|
|Last Action:||03/05/96 - Hearing Conducted S Ways & Means Committee|
SJR 39 - This resolution would submit a constitutional amendment which, if approved by Missouri voters, would allow a political subdivision to incur indebtedness upon approval by a simple majority of voters. Currently, a four-sevenths majority is required on municipal, primary or general election days and a two-thirds majority is required at all other elections. The amendment would also raise the allowable debt limit for school districts from ten to fifteen percent of the value of taxable property in the district. The allowable debt limit for other political subdivisions would remain at five percent of the value of taxable property in the district.
The portion of the amendment which raises the allowable debt
limit for school districts is identical to language which will be
placed before the voters in November 1996 pursuant to HJR 19 from