7-2-4918. Tax levy in the event of insolvency. (1) If, at any time after the disincorporation of a city or town, it is found that there is not sufficient money in the treasury to the credit of the special fund of 7-2-4912 with which to pay any indebtedness of the corporation, the board of county commissioners has the power and it is its duty to levy and collect from the territory formerly included within the city or town a tax or taxes sufficient in amount to pay the indebtedness of the corporation as the same shall become due.
     (2) The tax or taxes, assessments, and collections shall be made in the same manner and at the same time that other taxes of the county are levied and collected and are an additional tax upon the property included within said territory or portions thereof for the payment of said debts.
     (3) All money paid into the county treasury under the provisions of this part shall be placed to the credit of the special fund.

     History: En. Sec. 11, Ch. 99, L. 1973; R.C.M. 1947, 11-318.