9-433. Voluntary contributions; payment;
interest on delinquent payments
A. On or before April 1 of each year each city, town or successor political
subdivision that elects to make voluntary contributions under section 9-432 shall notify
the county assessor of the county in which the property is located of its election to
make a contribution under this article.
B. The city, town or political subdivision shall pay to the county treasurer of the
county in which the property is located one-half of the amount determined pursuant to
section 42-15253 not later than the first Monday in November and the other one-half not
later than the first Monday in May of the next year. The city or town shall make these
payments solely from the revenues of any utility undertaking as defined in section
9-521. The payments shall be treated as an expense of operation and maintenance of the
utility undertaking. If the city or town has no utility undertaking or discontinues
ownership of its utility undertaking after purchase of the land, the payments shall be
made solely from proceeds of excise taxes collected by the city or town or levied and
collected by this state and distributed to the city or town.
C. Payments that are not paid when due under this section bear simple interest at
the rate of sixteen per cent per year.
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