253.520. Distribution of proceeds from land sales — Meramec-Onondaga state parks fund, created, purpose.
245 words·~1 min read·
/mo/chapter-253/253-520A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
253.520. Distribution of proceeds from land sales — Meramec-Onondaga state parks fund, created, purpose. — 1. Ten percent of the sale price of any tract sold shall be paid to the county or counties wherein the lands are located, in a ratio equal to the portion which lies in each county to the total acreage involved, and the county or counties shall distribute those proceeds to each political subdivision which contains within its boundaries all or part of the land sold in the same ratio as the political subdivision's property tax rate bears to the total property tax rate which would normally be levied upon the land sold.
2. Ninety percent of the sale price of any tract sold shall be placed in the state treasury to the credit of the "Meramec-Onondaga State Parks Fund" which is hereby created. Moneys so received, together with all other property acquired through any grant, gift, donation, devise or bequest which may be received for the support and maintenance of the Meramec State Park and the Onondaga Cave State Park, which shall also be placed in said fund, shall be placed in the fund and shall be used solely for the maintenance, beautification and further development of the Meramec State Park and the Onondaga Cave State Park.
All income, interest, rights or rent earned through the operation of the fund shall also be credited to the fund.
--------
(L. 1982 H.B. 1539 § 2 subsecs. 3, 4)
Effective 4-26-82