17D-4-303. Limits on public infrastructure district property tax levy -- Notice requirements.
(1) Except as provided in Subsectionsand, the property tax levy of a public infrastructure district, for all purposes, including payment of debt service on limited tax bonds, may not exceed.015 per dollar of taxable value of taxable property in the district. 17D-4-203(2)(e) 63H-1-202(10)
(2) The limitation described in Subsectiondoes not apply to the levy by the public infrastructure district to pay principal of and interest on a general obligation bond that the public infrastructure district issues. (1)
(3) Within 30 days after the day on which the lieutenant governor issues a certificate of incorporation for the public infrastructure district under Section, the board shall record a notice with the recorder of the county in which property within the public infrastructure district is located. 67-1a-6.5 The notice described in Subsectionshall: (3)(a) contain a description of the boundaries of the public infrastructure district; state that a copy of the governing document is on file at the office of the creating entity; state that the public infrastructure district may finance and repay infrastructure and other improvements through the levy of a property tax; and state the maximum rate that the public infrastructure district may levy. The effective date of the public infrastructure district for purposes of assessing property tax is the day on which the notice is recorded in the office of the recorder of each county in which the public infrastructure district is located, as described in Section. 59-2-305.5
(4) If the board fails to record a notice as described in Subsection: (3) the public infrastructure district is still created as of the day the lieutenant governor issues a certificate of incorporation for the public infrastructure district; any bonds issued by the public infrastructure district are still valid; and the public infrastructure district may not levy a tax or levy or collect a fee until the board records the notice described in Subsection. (3)