MO HB2397

Requires dissolution petitions to include an agreement for sale of the district's assets entered into by the board of directors, contingent upon circuit court and voter approval

Mandates petitioners prove the asset sale agreement would permit full payment of all debts and financial obligations while ensuring continued water supply to district inhabitants, or the petition must be dismissed

Allows the board of directors to lower the voter approval threshold from two-thirds majority to four-sevenths majority at their discretion

Requires the ballot question to identify the specific entity purchasing the district's assets and becoming the new water supplier

Permits remaining district property after dissolution to be applied pro rata toward reducing property tax bills for district residents, or transferred to local school districts if the amount would be less than a one-cent tax rate reduction