35.10.440 - Consolidation -- Assumption of general obligation indebtedness.

Consolidation — Assumption of general obligation indebtedness.

A joint resolution or a petition may contain a proposal that a general obligation indebtedness of one or more of the cities proposed to be consolidated shall be assumed by the proposed consolidated city, in which event, the joint resolution or petition shall specify the improvement or service for which such general obligation indebtedness was incurred and state the amount of any such indebtedness then outstanding and the rate of interest payable thereon.

[1985 c 281 § 7.]