What happens to special tax when the County takes property

If property subject to a special tax levied pursuant to this chapter is acquired by the County (or, to the extent permitted by law, any other public entity) through a negotiated transaction or eminent domain proceedings, the obligation to pay the special tax shall be payable out of the purchase price, rental payments or eminent domain award, as the case may be, in an amount sufficient to pay or provide for the payment of the principal and interest on any bonds issued under this chapter that would have been payable from the special tax. If property subject to a special tax levied pursuant to this chapter is acquired by the County by foreclosure or similar proceeding or by gift or devise, unless otherwise paid or provided for, the property shall be sold as soon as practicable, and either (a) the obligations to pay the special tax shall be payable from the sales price in an amount sufficient to pay or provide for the payment of the principal and interest on any bonds issued under this chapter that would have been payable from the special tax, or (b) the purchaser of the property shall take title subject to the lien of the special tax and shall be required to pay the special taxes becoming due from and after the sale date. (1994, ord 94-77, sec 3.)32-17 Article 2. District Establishment Procedures.