COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 4155-01
Bill No.: SB 1177
Subject: Boards, Commissions, Committees, Councils; Utilities
Type: Original
Date: February 16, 2004
FISCAL SUMMARY
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on General Revenue Fund |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 4 pages.
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Local Government | $0 | $0 | $0 |
ASSUMPTION
Officials from the Department of Economic Development - Public Service Commission, Little Blue Valley Sewer District, Jasper County Commissioner and the City of Springfield assume the proposal will have no impact on their organizations.
Officials from the St. Louis Metropolitan Sewer District, Callaway County Water District, Cole County Water District and certain other cities and counties on our distribution list did not respond to our request for a statement of fiscal impact.
| FISCAL IMPACT - State Government | FY 2005
(10 Mo.) |
FY 2006 | FY 2007 |
| $0 | $0 | $0 |
| FISCAL IMPACT - Local Government | FY 2005
(10 Mo.) |
FY 2006 | FY 2007 |
| $0 | $0 | $0 |
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
This proposal modifies sections of Chapter 393, RSMo, the breakdown of the proposal 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
DESCRIPTION (continued)
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.
This legislation is not federally mandated, would not duplicate any other program and would not require additional capital improvements or rental space.
SOURCES OF INFORMATION
Department of Economic Development -
Public Service Commission
Little Blue Valley Sewer District
Jasper County Commissioner
City of Springfield
NOT RESPONDING: St. Louis Metropolitan Sewer District, Callaway County Water District, Cole County Water District and certain Cities and Counties on distribution list.
Mickey Wilson, CPA
Director
February 16, 2004