Missouri Bond Elections.

Missouri currently requires a "supermajority" to approve general obligation bond issues. Either a two-thirds (66.67%) or four-sevenths (57.14%) majority is required, depending on when the election is held. A four-sevenths majority is required for general-obligation bond issues submitted at regular elections in April, in August primaries (in even numbered years) and in November general elections (in even numbered years). At all other elections, a two-thirds majority is required.

The dates and voter requirements for Missouri bond elections in the year 2008 are as follows:

Last Filing Date	Election Date	Voter Requirement for Passage
November 27, 2007	February 5, 2008	Two-thirds
January 29, 2008	April 8, 2008	Four-sevenths
March 25, 2008	June 3, 2008	Two-thirds
May 27, 2008	August 5, 2008	Four-sevenths
August 26, 2008	November 4, 2008	Four-sevenths

The dates and voter requirements for Missouri bond elections in the year 2009 are as follows:

Last Filing Date	Election Date	Voter Requirement for Passage
November 25, 2008	February 3, 2009	Two-thirds
January 27, 2009	April 7, 2009	Four-sevenths
March 24, 2009	June 2, 2009	Two-thirds
May 26, 2009	August 4, 2009	Two-thirds
August 25, 2009	November 3, 2009	Two-thirds

WM Financial Strategies
1515 N. Warson Rd, Suite 274
St. Louis, Missouri 63132
Phone (314) 423-2122
Fax (314) 432-2393
JHoward@munibondadvisor.com