7-2-4911. Certification of financial condition. (1) Upon receiving a certified copy of the order of disincorporation, the director of the department of commerce shall certify a current statement of the financial condition of the disincorporating city or town to the board of county commissioners.
     (2) The statement shall include but not be limited to:
     (a) a determination of all assets of the city or town, including any current or delinquent utility accounts and/or taxes receivable; and
     (b) a statement of all city or town indebtedness, including any revenue or general obligation bonds, special improvement district obligations outstanding, contracts payable, all other obligations of the city, and a schedule for the repayment of indebtedness.

     History: En. Sec. 8, Ch. 99, L. 1973; amd. Sec. 10, Ch. 213, L. 1975; R.C.M. 1947, 11-315(part); amd. Sec. 7, Ch. 274, L. 1981; amd. Sec. 1, Ch. 287, L. 1983.