No franchises, contracts, or other obligations of an extraordinary nature, or other than those necessary for the ordinary and usual running of the affairs of either municipal corporation, which have been granted, made, or created by either municipal corporation after the passage of an ordinance favoring annexation, and prior to the consummation of the annexation, shall be valid and binding against the consolidated municipality, or any part thereof, in the event that a consolidation is effected within sixty (60) days after passage of the ordinance, unless they shall be afterward ratified by the consolidated city or incorporated town.
Section: Previous 14-40-1202 14-40-1203 14-40-1204 14-40-1205 14-40-1206 14-40-1207 14-40-1208 14-40-1209 14-40-1210 14-40-1211 14-40-1212 14-40-1213Last modified: November 15, 2016