12-1778. Object of taxes levied within redevelopment district.
12-1778
12-1778. Object of taxes levied within redevelopment district.
Notwithstanding any other provision of law, it is hereby stated that it
is an object of all ad valorem taxes levied by or for the benefit of any
city, county or school district of the state on taxable tangible real property
located within any redevelopment district
created pursuant to this act,
that such taxes may be applied and allocated to and when collected
paid into a special fund of a city pursuant to the procedures and limitations
of this act to pay the cost of a project including principal of and
interest on special obligation bonds
or full faith and credit tax increment bonds issued by such city to
finance, in whole or in part, such redevelopment project.
History: L. 1976, ch. 69, § 9; L. 1982, ch. 75, § 11; L. 1984,
ch. 74, § 7;
L. 1988, ch. 78, § 9; Jan. 1, 1989.