10-2-420. Bonds not affected by boundary adjustments or annexations — Payment of property taxes.
- (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Repealed and Re-enacted by Chapter 389, 1997 General Session