4-55D-7: Special assessment financing.

A. Special assessment financing shall be provided by capital providers and disbursed directly by capital providers to fund eligible improvements subject to a special assessment financing agreement.

B. A county or municipality shall not be liable in any way for the debt of the property owner or the debt of the special assessment financing, shall not be a third-party obligor and shall not pledge or lend its credit to the property owner, the capital provider or the special assessment financing.