7-33-2129. Annexation of rural fire district property by municipality -- responsibility for bonded indebtedness. (1) If a municipality annexes property from a rural fire district, the annexed property is liable for any bonded indebtedness of the rural fire district existing as of the date of annexation to the same extent as it would have been liable if not withdrawn.
     (2) A municipality may:
     (a) offset the municipal mills levied on the annexed property by the mills levied on the property for bonded indebtedness; or
     (b) annually appropriate funds to the rural fire district in an amount equal to the mills levied on the annexed property for bonded indebtedness.

     History: En. Sec. 2, Ch. 459, L. 1991.