§ 10-2-420. Bonds not affected by boundary adjustments or annexations -- Payment of property taxes.

Latest version.

(1)	A boundary adjustment or annexation under this part may not jeopardize or endanger any general obligation or revenue bond.

(2)

A bondholder may require the payment of property taxes from any area that:

(a)	was included in the taxable value of the municipality or other governmental entity issuing the bond at the time the bond was issued; and

(b)	is no longer within the boundaries of the municipality or other governmental entity issuing the bond due to the boundary adjustment or annexation.

Repealed and Re-enacted by Chapter 389, 1997 General Session

                    
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