reinvestment project area subject to interlocal agreement -- Notice -- Effective date of interlocal agreement -- Time to contest interlocal agreement -- Availability of interlocal agreement. (1) An agency shall: (a) approve and adopt an interlocal agreement described in Section 17C-5-204 at an open and public meeting; and (b) provide a notice of the meeting titled "Diversion of Property Tax for a Community Reinvestment Project Area." (2) (a) Upon the execution of an interlocal agreement described in Section 17C-5-204, the agency shall provide notice of the execution by publishing the notice for the agency's jurisdiction, as a class A notice under Section 63G-30-102, for 30 days. (b) A notice described in Subsection (2)(a) shall include: (i) a summary of the interlocal agreement; and (ii) a statement that the interlocal agreement: (A) is available for public inspection and the hours for inspection; and (B) authorizes the agency to receive all or a portion of a taxing entity's tax increment or sales and use tax revenue. (3) An interlocal agreement described in Section 17C-5-204 is effective at the end of the 30-day period described in Subsection (2)(a). (4) (a) Within 30 days after the day on which the interlocal agreement is effective, a person may contest the interlocal agreement or the procedure used to adopt the interlocal agreement if the interlocal agreement or procedure fails to comply with a provision of this title. (b) After the 30-day period described in Subsection (4)(a) expires, a person may not contest: (i) the interlocal agreement; (ii) a distribution of tax increment to the agency under the interlocal agreement; or (iii) the agency's use of project area funds under the interlocal agreement. (5) A taxing entity that enters into an interlocal agreement under Section 17C-5-204 shall make a copy of the interlocal agreement available to the public at the taxing entity's office for inspection and copying during normal business hours.
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