Shall the Missouri Constitution be amended to change provisions relating to the financing of stormwater control projects by:
* limiting availability of grants and loans to public water and sewer districts only;
* removing the cap on available funding and existing restrictions on disbursements;
* requiring loan repayments to be used only for stormwater control projects?
It is estimated the cost to state governmental entities is $0 to $236,000 annually. It is estimated state governmental entities will save approximately $7,500 for each bond issuance. It is estimated local governmental entities participating in this program may experience savings, however the amount is unknown.
Fair Ballot Language:
A yes vote will amend the Missouri Constitution to change the provisions relating to the financing of stormwater control projects. Currently, the Missouri Constitution allows the legislature to issue bonds or other types of debt so that grants and loans may be provided to municipalities and water and sewer districts in certain counties and cities for stormwater control.
This amendment will limit funding to only public water and sewer districts. It removes the current limitation on the amount of funds that can be made available for these projects and removes the restrictions on the method of disbursing these funds. It further provides that loan repayment funds shall be deposited into a specific fund to be used for stormwater control projects.
A no vote will not change the provisions relating to the financing of stormwater control projects.
If passed, this measure will not have an impact on taxes.