Except as provided by the commission, when the boundary change is effected the territory which is transferred shall be relieved of annual tax liability for the outstanding indebtedness of the transferring county in the year following the year in which the election on the question of the boundary change is held.
Territory remaining in the transferring county when the boundary change is effected shall be relieved of annual tax liability for any outstanding indebtedness of that county which the commission determines is to be assumed by the accepting county. Such relief shall become effective in the year following the year in which the election on the question of the boundary change is held.
Nothing in this section shall be construed as in any way limiting the power of a bondholder to enforce contractual rights or affecting the ultimate liability of territory of the transferring county, or of the accepting county for bonded indebtedness in case of default.
23230
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23248
23249
23250
23251
23252
23253
23254
23255
23256
23256.5
23257
23258
23259
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23262
23263
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23296
23231
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23242
23243
23244
23245
23246
23247
23248
23249
23250
23251
23252
23253
23254
23255
23256
23256.5
23257
23258
23259
23260
23261
23262
23263
23264
23265
23266
23267
23268
23269
23270
23271
23272
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23296