Colorado § 30-20-516 Levies to cover deficiencies

Colorado Statutes

§ 30-20-516 — Levies to cover deficiencies

Colorado·Title 30 Government·Art. Public Improvements

The board, in fixing and
determining the rate of levy, shall take into account the maturing indebtedness for
the current and ensuing year on the contracts, bonds, interest on bonds,
deficiencies, and defaults of prior years of the district, and shall make provision for
the payment thereof. In case the money produced from such levy, together with
other revenues of the district, is not sufficient to punctually meet the payments on
the contracts, bonds, and interest on bonds of the district, and to pay defaults and
deficiencies of the district, then the board, from year to year, shall make such
additional levies of taxes as may be necessary for meeting such payments, and
notwithstanding any limitations, such levies shall be made and continued until the
indebtedness of the district i

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The board, in fixing and
determining the rate of levy, shall take into account the maturing indebtedness for
the current and ensuing year on the contracts, bonds, interest on bonds,
deficiencies, and defaults of prior years of the district, and shall make provision for
the payment thereof. In case the money produced from such levy, together with
other revenues of the district, is not sufficient to punctually meet the payments on
the contracts, bonds, and interest on bonds of the district, and to pay defaults and
deficiencies of the district, then the board, from year to year, shall make such
additional levies of taxes as may be necessary for meeting such payments, and
notwithstanding any limitations, such levies shall be made and continued until the
indebtedness of the district is fully paid.

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