Section 303 – Limits on public infrastructure district property tax levy — Notice requirements.

• (1) The property tax levy of a public infrastructure district, for all purposes, including payment of debt service on limited tax bonds, may not exceed .015 per dollar of taxable value of taxable property in the district.

• (2) The limitation described in Subsection (1) does not apply to the levy by the public infrastructure district to pay principal of and interest on a general obligation bond that the public infrastructure district issues.

• (3)
  • (a) Within 30 days after the day on which the lieutenant governor issues a certificate of incorporation under Section 67-1a-6.5, the board shall record a notice with the recorder of the county in which property within the public infrastructure district is located.
  • (b) The notice described in Subsection (3)(a) shall:
    • (i) contain a description of the boundaries of the public infrastructure district;
    • (ii) state that a copy of the governing document is on file at the office of the creating entity;
    • (iii) state that the public infrastructure district may finance and repay infrastructure and other improvements through the levy of a property tax; and
    • (iv) state the maximum rate that the public infrastructure district may levy.

Renumbered and Amended by Chapter 314, 2021 General Session