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Raymore council approves TimberTrails Chapter 100 bonds after extended legal briefing
Summary
After a detailed explanation of Chapter 100 and its interplay with the Missouri Constitution, the Raymore City Council approved Chapter 100 bond sales for the TimberTrails multifamily and retail phases (Bills 3992 and 3993); votes on both measures were 6–2. Council raised concerns about 25‑year terms and city exposure.
The Raymore City Council on Jan. 12 approved two ordinances authorizing Chapter 100 industrial development revenue bond transactions for the TimberTrails project: Bill 3992 (multifamily phase) and Bill 3993 (retail phase). Both measures passed by recorded voice vote, 6–2.
Bond counsel and the city's special economic development counsel explained Chapter 100 mechanics and why the city may use the statute in conjunction with the Missouri Constitution (Article 6, Section 27(b)). Counsel said Chapter 100 permits a city to issue revenue bonds to construct facilities to be leased to private entities; the constitution expands allowable project categories to…
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