§ 142.00 Real property liabilities; procedure for ascertaining the
amount thereof. The amount of outstanding indebtedness on account of
the acquisition of real property to be included in a debt statement,
pursuant to subdivision two of paragraph a of section 135.00 of this
chapter, shall be the value of such real property as determined by a
court in a condemnation proceeding, or pursuant to the terms of a
contract under which a municipality, school district in a city or fire
district agrees to take title to such real property. If such real
property has not been evaluated in any of the above ways, it shall be
valued at the amount set forth therefor in the last completed assessment
roll used for the levying of taxes of such municipality, school district
or fire district. If, however, such real property is also evaluated on
the current assessment roll of one or more other units of government,
the amount of indebtedness shall be the highest value assigned to it by
any current assessment roll in which it is evaluated. If title to such
real property has vested in such municipality, school district or fire
district, there shall also be included the amount of interest accruing
from the date of vesting of title upon the unpaid award, contract price
or assessed valuation of the real property, as the case may be.