Colorado § 22-42-122 Changes in boundaries - liability

Colorado Statutes

§ 22-42-122 — Changes in boundaries - liability

Colorado·Title 22 Education·Art. Bonded Indebtedness

(1)Nothing in this article or in any other provision of law shall be construed so as to release the taxable property within a school district which incurred bonded indebtedness from liability for its proportionate share of the outstanding obligations thereof.

(2)The outstanding bonded indebtedness, or proportionate share thereof, incurred by a school district which is dissolved as a result of the formation of a new school district may be assumed by said new school district in the manner provided by article 30 of this title.

(3)The taxable property located within the territory of a school district which is dissolved and the resultant unorganized territory annexed to an adjacent school district shall be liable for its proportionate share of the bonded indebtedness previously in

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(1) Nothing in this article or in
any other provision of law shall be construed so as to release the taxable property
within a school district which incurred bonded indebtedness from liability for its
proportionate share of the outstanding obligations thereof.

(2) The outstanding bonded indebtedness, or proportionate share thereof,
incurred by a school district which is dissolved as a result of the formation of a new
school district may be assumed by said new school district in the manner provided
by article 30 of this title.

(3) The taxable property located within the territory of a school district
which is dissolved and the resultant unorganized territory annexed to an adjacent
school district shall be liable for its proportionate share of the bonded
indebtedness previously incurred by the annexing school district.

(4) The taxable property located within the territory of a school district
which is detached and annexed to an adjacent school district shall be liable for its
proportionate share of the bonded indebtedness previously incurred by the
annexing school district.

(5) The taxable property located within a capital improvement zone of a
school district shall be liable for bonded indebtedness incurred by the school
district pursuant to this article.

Colorado § 22-42-122 (Changes in boundaries - liability) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 64: R&RE, p. 557, � 1. C.R.S. 1963: � 123-11-23. L. 94: (5) added, p. 1791, � 5, effective January 1, 1995. L. 2008: (5) amended, p. 1900, � 80, effective August 5.