(1) If a parcel of territory or a city is annexed to an existing people’s utility district, or two or more districts are consolidated, such annexation or consolidation shall not affect or impair the title to any property owned or held by the district or districts, or any property owned or held by the annexed city, or in trust therefor, or any debts, demands, liabilities or obligations existing in favor of or against either the district or city so annexed.
(2) The acceptance of any indebtedness at the election to determine the question of annexation shall not include any indebtedness except such as has been incurred or assumed on account of development or purchase of a utility, including the replacement value of the unreimbursed investment of an investor owned utility in energy efficiency measures and installations within the annexed area. [Amended by 1991 c.358 §3; 2003 c.802 §72]
Section: Previous 261.155 261.160 261.161 261.165 261.170 261.171 261.175 261.180 261.185 261.190 261.195 261.200 261.205 261.210 261.215 NextLast modified: August 7, 2008