Sec. 7-130v. Payment by authority of sums in lieu of taxes.
Sec. 7-130v. Payment by authority of sums in lieu of taxes. Every authority and
every municipality in which any property of the authority is located may enter into
agreements with respect to the payment by the authority to such municipality of annual
sums of money in lieu of taxes on such property in such amounts as may be agreed upon
between the authority and the municipality, and each such authority may make, and
each such municipality is empowered to accept, such payments and to apply them in
the manner in which taxes may be applied in such municipality; provided no such annual
payment with respect to any parcel of such property shall exceed the amount of taxes
paid thereon for the taxable year immediately prior to the time of its acquisition by the
authority.
(1967, P.A. 810, S. 18.)