MO HB1771

Political subdivisions must hold a public hearing before issuing bonds secured by a pledge of future appropriations for debt service.

Notice of the hearing must be published once weekly for two consecutive weeks in a newspaper of general circulation qualified to publish legal notices under chapter 493, located in a county where the political subdivision is located.

The last advertisement must appear at least ten days before the scheduled public hearing date.

Notice must inform the public that bond issuance may affect the political subdivision's bond rating and that default may result in reduced credit ratings or increased future borrowing costs.

The public hearing must allow public testimony and be held at a regularly scheduled meeting of the political subdivision's governing body.