The land so disconnected shall not be exempt from the payment of any taxes lawfully assessed against it for the purpose of paying any indebtedness lawfully contracted by the governing body of said town while said land was within the limits thereof and which remains unpaid and for the payment of which said land could be lawfully taxed.
Source: L. 75: Entire title R&RE, p. 1104, § 1, effective July 1.
Editor's note: This section is similar to former § 31-8-505 as it existed prior to 1975.