A. If the municipality conveys the title to the remote municipal property to private ownership, a political subdivision that receives property taxes from the property, and that has outstanding bonds or other long-term obligations that are secured by water transportation revenues under Title 35, Chapter 3, Article 3.4, shall determine the amount of property taxes otherwise payable as prescribed by section 42-15253 as a result of that political subdivision’s property tax rates and the value of the property.

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B. The political subdivision shall make special payments to the county treasurer of the county in which the property is located in the amount determined pursuant to section 42-15253 in the manner prescribed in section 9-433.