273.1103 NET DEBT, TERMINOLOGY OF LAWS OR CHARTERS.
Net debt incurred by any political subdivision or other public corporation for which any law
or any charter provision provides a limit expressed as a percentage of the assessed value or the
full and true value of taxable property (except any adjusted assessed value determined by the
commissioner under section
124.2131) shall not exceed 33-1/3 percent of such limit until and
unless such law or charter is amended to provide a different limit.
History: 1971 c 427 s 25; 1987 c 268 art 7 s 34