LD 264
pg. 3
Page 2 of 3 An Act To Repeal the Property Tax Exemption for State and Municipal Property ... LD 264 Title Page
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LR 93
Item 1

 
participating in the corporation, in order to finance the
facilities, revenue obligation securities issued in accordance with
Title 10, chapter 110, subchapter IV 4, and any other bonds, notes
or debt obligations that municipalities are authorized to issue by
applicable law. For these purposes, the term "municipal officers"
as used in Title 10, chapter 110, subchapter IV 4, means the board
of directors of any corporation described in this subsection.
Title 10, section 1064, subsection 6, may not be construed to
prohibit the assignment or pledge as collateral security of any
contract of a municipality authorized by this section or of any or
all of the payments under this section, regardless of whether the
provisions of subsection 4, paragraph C, are applicable to the
contract or payments. The provisions of Title 10, sections 1063
and 1064, subsection 1, paragraph A and paragraph C, subparagraph
(4) do not apply to revenue obligation securities issued by any
public waste disposal corporation described in this subsection.

 
SUMMARY

 
This bill repeals the exemption from taxation given for
property owned by the State or a municipality.


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