7-2-4911: Certification of financial condition.

(1) Upon receiving a certified copy of the order of disincorporation, the director of the department of administration shall certify a current statement of the financial condition of the disincorporating city or town to the board of county commissioners.

(2) The statement must include but is not limited to:

(a) a determination of all assets of the city or town, including any current or delinquent utility accounts and taxes receivable; and

(b) a statement of all city or town indebtedness, including any revenue or general obligation bonds, special improvement district obligations outstanding, contracts payable, all other obligations of the city, and a schedule for the repayment of indebtedness.