§ 29-8-128 — Advance payment of assessment installments

Colorado § 29-8-128

• Jurisdiction: Colorado
• Title 29: Government
• Art.: Underground Conversion of Utilities

Text

The governing
body may, in the resolution levying the assessments, provide that all unpaid
installments of assessments levied against any piece of property may (but only in
their entirety) be paid prior to the dates on which they become due, if the property
owner paying such installments pays all interest which would accrue thereon to the
next succeeding date on which interest is payable on the bonds issued in
anticipation of the collection of the assessments. In addition, the property owner
must pay such additional amount of interest as in the opinion of the governing body
is necessary to assure the availability of money fully sufficient to pay interest on
the bonds as interest becomes due, and any redemption premiums which may
become payable on the bonds in order to retire, in advance of maturity, bonds in a
sufficient amount to utilize the assessments thus paid in advance. If no bonds have
been issued, then all unpaid installments of assessments levied against any piece
of property may be paid in their entirety prior to the date upon which they become
due by paying the principal amount due and the interest accrued thereon to the
date of payment.

Legislative History

Source: L. 71: p. 996, � 1. C.R.S. 1963: � 89-23-28.