Colorado § 31-12-503 Future levies - prepayment

Colorado Statutes

§ 31-12-503 — Future levies - prepayment

Colorado § 31-12-503

Title 31Government

Art.Annexation - Consolidation - Disconnection

This text of Colorado § 31-12-503 (Future levies - prepayment) 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. § 31-12-503 (2026).

Text

When the governing body of such
municipality levies a tax upon the property within such municipality for the purpose
of paying such indebtedness or any part thereof or interest thereon, such governing
body may levy a tax at the same rate and for the same purpose on the land so
disconnected. The county treasurer shall pay over to such municipality all moneys
collected by the treasurer on account of such tax, to be applied only to the payment
of such indebtedness. In case the owner of any land so disconnected pays off and
discharges a portion of such indebtedness equal in amount to the same proportion
of the indebtedness which the valuation for assessment of the land bears to the
entire valuation for assessment of all the property subject to taxation for the
payment of such indebte

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When the governing body of such
municipality levies a tax upon the property within such municipality for the purpose
of paying such indebtedness or any part thereof or interest thereon, such governing
body may levy a tax at the same rate and for the same purpose on the land so
disconnected. The county treasurer shall pay over to such municipality all moneys
collected by the treasurer on account of such tax, to be applied only to the payment
of such indebtedness. In case the owner of any land so disconnected pays off and
discharges a portion of such indebtedness equal in amount to the same proportion
of the indebtedness which the valuation for assessment of the land bears to the
entire valuation for assessment of all the property subject to taxation for the
payment of such indebtedness, calculated according to the last assessment
previous to such payment, said land is exempted from further taxation to pay such
indebtedness. Upon such payment being made, the canceled bonds or other
evidences of payment of such portion of said indebtedness must be deposited with
the treasurer of such municipality, and a certificate shall be given by the treasurer
stating that such payment has been made.

Legislative History

Source: L. 75: Entire title R&RE, p. 1101, � 1, effective July 1. L. 2016: Entire part amended, (HB 16-1272), ch. 82, p. 210, � 1, effective August 10.