63-4106. PROVISION FOR PAYMENT OF INDEBTEDNESS UPON DISSOLUTION — SPECIAL TAX LEVY FOR PAYMENT OF DISTRICT INDEBTEDNESS. The board of county commissioners in the county or counties in which the dissolved district is located shall compute the total indebtedness of the district and shall provide for the payment thereof out of district funds on hand, or out of revenues to be raised by special levies, which shall be determined by the county or counties, and shall be certified to the clerk of the county board of commissioners of each of the counties wherein is situated any part of such district and such tax shall be levied and imposed by each of such counties upon such property of the district as may be within such county and the tax shall be collected, and not less than quarterly, shall be remitted to the treasurer of the county which contains the greatest portion of the preceding calendar year’s valuation of the dissolved district, to be applied in payment of the indebtedness of such district as hereinafter provided.
At the next regular annual meeting of the board of commissioners of the county or counties in which the dissolved district is located at which levies for state and county purposes are fixed, and each year thereafter until all indebtedness of such district shall have been fully paid, such board shall, in addition to all other tax levies, levy a special tax upon all of the property situated within the former boundaries of such dissolved district, sufficient to raise by taxation funds for the payment of current and accruing terms and conditions of outstanding bonds of such district; and shall each year thereafter continue such levy, or make such other or additional levies as may be required, to fully pay and retire the indebtedness of such district according to the terms and conditions thereof; and such taxes must be collected as are other county taxes and shall be turned over to the treasurer of the county which contains the greatest portion of the preceding calendar year’s valuation of the district who must redeem or post for redemption all warrants and bonds as the same mature and in order of their line, and for which the treasurer has funds arising from such district for the payment of same.
History:
[63-4106, added 1987, ch. 87, sec. 1, p. 167.]
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