48-3123. Issuance of certificate of release
upon payment of bonded indebtedness
Upon full payment of the indebtedness upon any parcel of land as provided by this
chapter, the county treasurer shall issue a certificate reciting the fact of such payment
and deliver the certificate to the person making payment. The certificate may be
recorded in the office of the county recorder of the county in which the parcel of land
is located and from delivery thereof the certificate shall operate as a release and
discharge of the lands described therein from further taxation to meet payments of
principal or interest upon the district bonds then outstanding, except in the event of a
default of the district in payment of the bonds at maturity, taxes may be levied on such
parcel of land to meet the deficiency. If property so released is taxed to pay the
deficiency it shall be entitled to all benefits accruing from the purchase of lands sold
at tax sales.
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