Jackson County's Phase 2.5 Recovery Plan which provides guidelines for reopening is now in effect. Stay up to date on Phase 2.5 guidelines and local information at cityofLS.net/coronavirus.

Debt Obligations

A general obligation bond (GO) is a municipal bond backed by the credit and taxing power of the issuing jurisdiction. General obligation bonds are issued with the belief that a municipality will be able to repay its debt obligation through taxation.  The State of Missouri permits a city, by vote of two-thirds of the voting electorate, to incur GO indebtedness not to exceed 20% of the assessed valuation of taxable property.  The total GO bond debt limit was $420 million as of January 1st.

Revenue bonds are municipal bonds that finance income-producing projects and are secured by a specified revenue source. Typically, revenue bonds can be issued by any government agency or fund that is managed in the manner of a business, such as entities having both operating revenues and expenses.

Governmental activities Interest Rates Maturity Date Balance June 30, 2020
General obligation bonds

Improvement bonds -- 2013A

2.00-3.00 4/1/2028 $16,555,000

Refunding (2003) -- 2013B

3.00-4.00 4/1/2023   $4,455,000

Improvement bonds -- 2013C

2.00-5.00 4/1/2021      $495,000

Improvement bonds -- 2016A

1.75-5.00 4/1/2029   $5,700,000

Improvement bonds -- 2017A

2.00-5.00 4/1/2026 $11,075,000

Improvement bonds -- 2020A

1.89 4/1/2023   $9,055,000

Total general obligation bonds

$47,335,000
Tax Increment Financing activities

Summit Fair TIF -- 2017

3.50-4.875 5/1/2037 $27,315,000
 
Business-type activities
Combined Waterworks and Sewerage Fund:

Revenue bonds:

Waterworks Refunding

1.00-2.00 7/1/2021     $540,000