Bonds not affected by boundary adjustments or annexations -- Payment of property taxes.

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  • (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.




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