Taxation Authority


The Board shall levy and cause to be assessed and collected ad valorem property taxes for the operation of the school district. The district's taxing authority is established by state law.


Each year, the superintendent will prepare and submit for Board approval an estimate of the amount of money to be raised by taxation for the ensuing fiscal year, the rate required to produce that amount, and the rate necessary to sustain the school district's meeting principal and interest payments on the bonded debt of the district, and providing the funds to meet other legitimate purposes. Prior to setting tax rates for the teachers' and incidental funds, the Board shall annually set the top rate for the capital projects fund as necessary with the exception as provided by law.


The Board will also conduct at least one (1) public hearing on the estimate and the proposed tax rate. The Board shall forward the estimate, calculated to the nearest one/one hundredth of a cent, to the county clerk on or before September 1 of each year. The district shall round up a fraction greater than or equal to five/one thousandth of one cent to the next higher one/one hundredth of a cent.


If the district receives from the county clerk the state auditor's finding that the proposed rate does not comply with Missouri law, the Board will have 15 days from the date of receipt of the finding to accept or reject in writing the rate change certified by the state auditor and to submit all requested information to the state auditor. A copy of the Board's acceptance or rejection and any information submitted to the state auditor shall also be mailed to the county clerk.


Whenever it becomes necessary, in the judgment of the Board, to increase the tax rate beyond the authorized level (the amount last approved by the voters of the district or as subsequently revised according to law), the Board shall determine the rate of taxation necessary to be levied in excess of the existing rate and submit the proposition to the voters of the district. Election procedures shall be in compliance with state law and Article X, Section 11(c) of the Missouri Constitution.


The Board may decrease the official tax rate in compliance with state law and/or at its own discretion.


Any change in the ad valorem property tax rate must be established and sent to the county clerk no later than September 1 of each year, for entry in the tax books for the ensuing tax year.


The district will file the required report of tax collected with the State Tax Commission as required by law.



Borrowing Authority


The Board is permitted by law to borrow money in anticipation of collection of taxes for the purpose of securing funds for school operations, including the debt service fund. Issuance of all such tax and revenue anticipation notes requires Board approval. The notes may be issued at any time in any year and the aggregate outstanding amount of the rate issued in one (1) year for any fund shall not exceed the amount of the School Board's estimate of the year's requirement for the fund. The notes shall be payable within 12 months from date of issuance.


Bonded Indebtedness


The Board may borrow money and issue bonds for payment of purchasing school house sites, erecting, furnishing and/or repairing school houses, purchasing school buses and other transportation equipment, and any other expenditures as prescribed in state law. Funds raised through the sale of bonds may be used only for the purposes set forth in the election which authorized the sale of bonds. Before a bond issue election, specific needs for facilities shall be made clear to the general public, and careful estimates shall be made as to the amounts required for the sites, buildings and equipment. In addition the Board may provide for payment of such projects from operating revenues through the use of lease purchase financing. Following approval by the voters, the disposition of the bonded indebtedness will be in accordance with state statutes.


The following points of state law shall serve as guideposts in the Board's issuance of bonds:


< A four-sevenths vote is required before the issuance of bonds if the issue is submitted at a municipal election, or at the general or primary election held in even-numbered years. At all other elections, a two-thirds vote is required.


< The Board of Education has a limit of bonded indebtedness of 15 percent of the value of taxable tangible property as shown by the last completed assessment for state and county purposes.


< Bonds shall be issued in denominations of $1,000, or in any multiples of $1,000.


< The number of years which the whole, or any part, of the bonds are to run shall not exceed 20 years from the date of the bonds.


< The revenues from taxes levied for the purpose of satisfying bonded indebtedness obligations, both principal and interest, shall be recorded in the debt service fund.


General Funds


Upon the recommendation of the superintendent, the Board of Education may make provisions for minor capital outlay projects from the proceeds of current revenue in the adopted budget. Funds may be transferred from the incidental fund to the capital projects fund in an amount equal to the capital expenditures for school safety and security purposes.


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Note: The reader is encouraged to check the index located at the beginning of this section for other pertinent policies and to review administrative procedures and/or forms for related information.


Adopted: December 14, 2000




Legal Refs: '' 67.110, 108.150 -.280, 137.010, .055, .073, .100, .245, 164.011, .121 -.301,

165.011, .131, .141, RSMo.

Mo. Const., Art. VI, ' 26(b)

Mo. Const., Art. X, ' 11(c)


Advance R-IV School District, Advance, Missouri



2000, Missouri School Boards' Association, Registered in U.S. Copyright Office

For Office Use Only: DC-C.1G (10/00)