Colorado § 29-4-112 Tax resolution - payment of bonds

Colorado Statutes

§ 29-4-112 — Tax resolution - payment of bonds

Colorado § 29-4-112

Title 29Government

Art.Housing

This text of Colorado § 29-4-112 (Tax resolution - payment of bonds) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 29-4-112 (2026).

Text

(1)Before delivering any bonds payable from or additionally secured by taxes and authorized to be issued pursuant to this part 1, the council shall adopt a resolution, referred to in this part 1 as the tax resolution, which shall recite in substance that adequate provision will be made for raising annually a tax upon all property subject to taxation by the city of a sum sufficient to pay the interest on and principal of such bonds as the same become due. A tax sufficient to pay, when due, such principal and such interest shall be levied annually and assessed, collected, and paid in like manner with the other taxes of such city and shall be in addition to and exclusive of the maximum of all other taxes which such city is authorized or required by law to levy and assess upon the p

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(1) Before delivering any
bonds payable from or additionally secured by taxes and authorized to be issued
pursuant to this part 1, the council shall adopt a resolution, referred to in this part 1
as the tax resolution, which shall recite in substance that adequate provision will
be made for raising annually a tax upon all property subject to taxation by the city
of a sum sufficient to pay the interest on and principal of such bonds as the same
become due. A tax sufficient to pay, when due, such principal and such interest
shall be levied annually and assessed, collected, and paid in like manner with the
other taxes of such city and shall be in addition to and exclusive of the maximum of
all other taxes which such city is authorized or required by law to levy and assess
upon the property subject to taxation.

(2) It is the duty of the tax collector of the county in which such city is
located, upon the filing in the office of such county clerk of the county wherein
such city is located of a duly certified copy of such tax resolution, to levy and
assess a tax sufficient to pay the interest on and principal of such bonds as the
same become due; but if the bonds are payable from taxes only in the event of a
deficiency in revenues or are payable from taxes and additionally secured by a
pledge of revenues and if the tax resolution so provides, then, in such events, the
tax to be levied and assessed by such county clerk may be reduced by such amount
and under such conditions as may be determined in such tax resolution. When for
any reason all or any part of the principal of or interest on any bonds payable from
or additionally secured by taxes and issued by any city pursuant to this part 1 is paid
when due, there shall be levied and assessed by the county clerk and collected by
the proper collecting officers a tax sufficient to pay the same.