(1) A boundary adjustment or annexation under this part may not jeopardize or endanger any general obligation or revenue bond.
(2) A bondholder may require the payment of property taxes from any area that: (a) was included in the taxable value of the municipality or other governmental entity issuing the bond at the time the bond was issued; and (b) is no longer within the boundaries of the municipality or other governmental entity issuing the bond due to the boundary adjustment or annexation.
(a) was included in the taxable value of the municipality or other governmental entity issuing the bond at the time the bond was issued; and
(b) is no longer within the boundaries of the municipality or other governmental entity issuing the bond due to the boundary adjustment or annexation.
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