6097 (EXHIBIT A - E) (2) - Laserfiche WebLink

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annual installments of $20,400, including principal and interest at 7.25%, with the note maturing on March 1, 2007. 3. A loan agreement with the Missouri Department of Natural Resources (MDNR), whereby the City would receive a maximum of $122,841 to fund projects designed to increase energy efficiencies in certain City buildings. Planned projects include various heating, cooling and lighting improvements. As of January 1, 1997, the outstanding balance of a promissory note executed by the City for advances from MDNR was $ . The note is to be repaid in nine equal semi-annual installments of $4,944, including principal and interest at 2%, with the note maturing October 1, 1997. PROPERTY TAX INFORMATION CONCERNING THE CITY Property Valuations Assessment Procedure. All taxable real and personal property within the City is assessed annually by the County Assessor. Missouri law requires that personal property be assessed at 33-1/3% of true value and that real property be assessed at the following percentages of true value: Residential real property ...................................................................................................19% Agricultural and horticultural real property ......................................................................12% Utility, industrial, commercial, railroad and all other real property ..................................32% On January 1 of each odd-numbered year, the County Assessor must adjust the assessed valuation of all real property located within the county in accordance with a two-year assessment and equalization maintenance plan approved by the State Tax Commission. The assessment ratio for personal property is generally 33-1/3% of true value. However, subclasses of tangible personal property are assessed at the following assessment percentages: grain and other agricultural crops in an unmanufactured condition, ½%; livestock, 12%; farm machinery, 12%; historic motor vehicles, 5%; and poultry, 12%. The County Assessor is responsible for preparing the tax roll each year and for submitting the tax roll to the Board of Equalization. The County Board of Equalization has the authority to adjust and equalize the values of individual properties appearing on the tax rolls. [Remainder of this page intentionally left blank.] -29-