Interlocal agreement -- Notice requirements -- Effective date

(1) An agency that enters into an interlocal agreement under Section 17C-1-1002 shall: (a) adopt the interlocal agreement at an open and public meeting; and (b) provide a notice, in accordance with Subsections (2) and (3), titled "Authorization to Levy a Property Tax." (2) Upon the execution of an interlocal agreement, the agency shall provide, subject to Subsection (3), notice of the execution by publishing the notice for the agency's jurisdiction, as a class A notice under Section 63G-30-102, for at least 14 days. (3) A notice described in Subsection (2) shall include: (a) a summary of the interlocal agreement; and (b) a statement that the interlocal agreement: (i) is available for public inspection and the place and the hours for inspection; and (ii) authorizes the agency to: (A) receive all or a portion of a taxing entity's project area incremental revenue; and (B) levy a property tax on taxable property within the agency's boundaries. (4) An interlocal agreement described in Section 17C-1-1002 is effective the day on which the notice is published or posted in accordance with Subsections (2) and (3). (5) An eligible taxing entity that enters into an interlocal agreement under Section 17C-1-1002 shall make a copy of the interlocal agreement available to the public for inspecting and copying at the eligible taxing entity's office during normal business hours.