§ 30-35-804 — Construction - disposition of delinquent assessment

Colorado § 30-35-804

• Jurisdiction: Colorado
• Title 30: Government
• Art.: Home Rule Counties

Text

Nothing
in this part 8 shall be construed to release or discharge any special assessment
which is now, or may become, a lien on or against any property. Any home rule
county issuing bonds under this part 8 shall be subrogated to the rights of the
holders or owners of the outstanding special assessment bonds or obligations paid.
If, after the issuance of bonds authorized by this part 8, the delinquent or defaulted
special assessments, or any part thereof, are collected and the special assessment
bonds or obligations payable out of the particular special assessment fund have
been redeemed by means of bonds issued under this part 8, the amounts so
collected shall be used to pay the principal of and the interest on the bonds
authorized and the tax levies therefor shall be reduced in a like manner.

Legislative History

Source: L. 81: Entire article added, p. 1483, � 1, effective June 8.