Mercantile Bank of Illinois, N.A. v. School District of Osceola

ROBERTSON, Chief Justice.

The issue in this case is whether a lease entered by a school district of this state violates article VI, section 26(a) of the Missouri Constitution and is therefore void and unenforceable, where the lease requires the payments by the school district for a period exceeding one year. The trial court sustained the school district’s motion for summary judgment. On appeal, the Court of Appeals, Southern District, affirmed. We granted transfer to consider the important question raised in this case. We have jurisdiction. Mo.Const. art. V, § 10. The judgment of the trial…