Political Subdivisions Legislation - Missouri

SB 1285 - Effective January 1, 2009, for all charter counties and the City of St. Louis, assessors are required to provide the city or county clerks with assessment books on or before March first of each year. The city or county clerks must make abstracts of the assessment books showing the aggregate amounts of different types of property and the valuations of each type for each political subdivision levying taxes on property. The governing bodies of political subdivisions must use the information provided in the abstracts to informally project non-binding tax rate levies and provide such projected levies to the clerk no later than April 15th of each year. Utilizing the projected tax levies, the county collector must then calculate the projected tax liability for each property for which the assessor intends to provide a notice of increased assessed value by April thirtieth. Failure by a political subdivision to provide projected tax levies by April 15th will result in a twenty percent reduction [...]

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SB 1254 - This act creates the "Political Subdivision Services Bidding Standards Act". Contracts for services by any political subdivision shall be advertised and bids solicited and awarded in compliance with any federal, state, and local law specifically written for such political subdivision. If a political subdivision is not covered by a specific federal, state, or local law, it shall comply with the advertising and bidding requirements outlined in this act when soliciting bids and awarding contracts. Contracts for services shall be advertised in advance of the acceptance of bids for a minimum of five days in an area newspaper, with the first ad appearing at least 30 days in advance of the stated deadline for acceptance of bids. For contracts for over $50,000, bids shall also be advertised by providing information to at least one organization which regularly provides information to contractors providing the service needed. Ads and solicitations must include the submission deadline.[...]

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SCS/SB 1235 - Current law provides that a trustee may invest and reinvest trust assets in securities or obligations of any state or its political subdivisions, including securities that are underwritten by the trustee or an affiliate thereof. This act provides that in addition to the authority in current law, the trustee may invest trust assets in U.S. government obligations or other interests in any open-end or closed-end management investment company or investment trust registered under federal law, including but not limited to U.S. government obligations or repurchase agreements collateralized by such obligations, notwithstanding that the provided that the governing instrument or order requires or permits investment in U.S. government obligations, and provided that the portfolio of the investment company or investment trust is limited to U.S. government obligations and to repurchase agreements fully collateralized by such obligations, and provided that the investment company or trust [...]

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