1. (1) A boundary adjustment under this part may not jeopardize or endanger any general obligation or revenue bond.

2. (2) A bondholder may require the payment of property taxes from any area that:

   1. (a) was included in the taxable value of the municipality or other governmental entity issuing the bond at the time the bond was issued; and
   2. (b) is no longer within the boundaries of the municipality or other governmental entity issuing the bond due to a boundary adjustment.

Enacted by Chapter 399, 2025 General Session