MO SB989

Repeals and replaces sections 177.011 and 177.088 of Missouri Revised Statutes relating to school property ownership and lease agreements.

Allows school boards to lease or rent buildings for school purposes under section 177.088 agreements, creating an exception to the prohibition against leasing while a district schoolhouse is unoccupied.

Removes the requirement that agreements under section 177.088 be with a not-for-profit corporation, allowing educational institutions greater flexibility in financing and acquiring school facilities.

Permits school districts to enter into agreements with counties, cities, towns, or villages for acquisition, construction, improvement, and financing of facilities, with options for joint ventures and shared ownership of school buildings.

Maintains tax exemptions for bonds, notes, and obligations issued to fund school facility projects, and preserves restrictions on educational institution debt relative to annual income and revenue.