May a county and a municipality jointly finance a project within a project development district?
Yes. A county may enter into an interlocal agreement with a municipality located within the county to jointly finance a project within a project development district located within the municipality. Either unit may issue the project development bonds. The unit that does not issue the project development bonds may pledge all or any part of the taxes received or to be received by the non-issuing unit on the incremental valuation accruing to the project development district to the repayment of the bonds issued by the other unit, pursuant to the terms of the interlocal agreement.
Related Questions
- May a county or municipality adjust the base valuation of a project development financing district once it is certified by the county tax assessor?
- May a county include land located within a municipality in a project development district established by the county?
- May a county and a municipality located within the county jointly create a project development district?
