Section 1199-U. County may levy tax within district  


Latest version.
  • Should it appear to the
      county  legislature  at any time that the revenue of the authority is or
      will be insufficient to provide for the  payment  of  any  bonds  issued
      under  this title and to reimburse the county for any moneys that it may
      have advanced to the authority, the county legislature  shall  determine
      the  amount  of money necessary to be raised for such purpose, and shall
      levy a tax on the territory of the district located  within  the  county
      and  upon  the  several  parcels  of real estate in the district located
      within the  county  in  an  amount  sufficient  to  produce  the  amount
      necessary to be raised as aforesaid; provided that such tax shall not be
      levied  to  pay any bonds of the authority unless the authority with the
      consent of the county legislature has pledged  such  tax  prior  to  the
      issuance  of  such  bonds. Such tax shall be levied and apportioned upon
      such territory located within the county and collected from the  several
      parcels of real estate in the district located within the county in like
      manner as other county taxes. It is hereby determined that the liability
      imposed  upon  the territory included in the district located within the
      county is based upon the special  benefit  to  such  territory  accruing
      under this title and that the tax to be levied because of such liability
      and  in proportion to the taxable value of real estate in such territory
      will be in proportion to such benefits.