Section 29.47.450. Service area debt.

Latest version.

The indebtedness of a service area acquired under AS 29.47.440 remains the indebtedness of the area that incurred the debt, notwithstanding a subsequent court determination that the service area was not validly formed under law or by virtue of a defect in the proceedings creating the service area.  All property in the service area remains subject to taxation to pay the bonded indebtedness.

Notes

History

(Sec. 14 ch 74 SLA 1985)

                    
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