MO HB710

Allows community improvement districts to be terminated by municipal ordinance upon receipt of a proper petition and public hearing, provided the district has no outstanding obligations.

Requires termination petitions to be signed by owners of more than 50 percent of real property by assessed value and more than 50 percent per capita of property owners within the district boundaries.

Mandates that termination petitions include a plan for dissolution of financial obligations and distribution of district assets.

Requires municipalities to hold a public hearing with notice containing the hearing date/time/place, petition availability, and statement that interested parties may be heard.

Directs that upon district termination, assets be distributed according to the approved dissolution plan with preference for distributing assets to benefit properties formerly in the district.