(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 creating entity adopts the resolution creating the public infrastructure district, 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.
(a) Within 30 days after the day on which the creating entity adopts the resolution creating the public infrastructure district, 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.
(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.
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