42-17309. Sale of deferred tax liens to
state; interest on lien
A. On or before January 15 of each year, the county treasurer shall sell to the
state treasurer or to the county, or both, all certificates of deferred taxes issued in
the county under this article during the previous tax year.
B. The amount of the sale shall include reimbursement for the county treasurer's
cost of administering this article in an amount of ten dollars, which shall be deposited
in the taxpayers' information fund established by section 11-495, plus the cost of
recording the copy of the certificate of deferral.
C. A certificate that is sold under this section bears simple interest monthly,
payable on redemption or payment of tax or on enforcement of the lien as provided by this
article. On or before October 1 of each year, the state treasurer shall compute the rate
of interest that applies to certificates that will be sold during the following tax
year. The rate shall equal the average annual rate earned on the local government
investment pool under section 35-316 plus two percentage points, rounded to the next
higher full percentage.
D. Certificates of deferral are valid investments of state trust monies pursuant to
section 35-313. The state treasurer shall keep a record of certificates of deferral that
are sold to the state in the same manner as other investment securities.
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