Colorado § 29-15-106 Limitation on issuance of tax anticipation notes

Colorado Statutes

§ 29-15-106 — Limitation on issuance of tax anticipation notes

Colorado·Title 29 Government·Art. Tax Anticipation Note Act

(1)For all public bodies except school districts, the amount of tax anticipation notes issued by a public body in any fiscal year shall not exceed fifty percent of all taxes estimated to be received by such governing body in its current fiscal year, as shown by its then current budget.

(2)For school districts, the amount of tax anticipation notes issued by the school district in any fiscal year shall not exceed seventy-five percent of all taxes estimated to be received by such school district in its current fiscal year, as shown by its then current budget.

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(1) For all
public bodies except school districts, the amount of tax anticipation notes issued by
a public body in any fiscal year shall not exceed fifty percent of all taxes estimated
to be received by such governing body in its current fiscal year, as shown by its then
current budget.

(2) For school districts, the amount of tax anticipation notes issued by the
school district in any fiscal year shall not exceed seventy-five percent of all taxes
estimated to be received by such school district in its current fiscal year, as shown
by its then current budget.

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