2006 Utah Code - 17A-2-623 — Limitations upon indebtedness.

     17A-2-623.   Limitations upon indebtedness.
     No fire protection district may become indebted to an amount, including existing indebtedness, to exceed .4% of the fair market value, as defined under Section 59-2-102, of the taxable property in the district as ascertained by the last previous assessment of property within the district for state and county purposes. No districts may incur indebtedness for a longer period than eight years. In determining the fair market value of the taxable property in the district, the fair market value of all tax equivalent property, as defined in Section 59-3-102, shall be included as a part of the fair market value of the taxable property in the district, as provided under Title 59, Chapter 3, Tax Equivalent Property Act.

Renumbered and Amended by Chapter 186, 1990 General Session