Colorado § 31-12-706 Land subject to tax for prior indebtedness

Colorado Statutes

§ 31-12-706 — Land subject to tax for prior indebtedness

Colorado·Title 31 Government·Art. Annexation - Consolidation - Disconnection

When the governing
body of such town levies a tax upon the property within such town for the purpose
of paying such indebtedness or any part thereof and interest thereon, such
governing body shall have the authority to 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 town all moneys collected by him 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 his land
bears to the entire valuation for assessment of all the property subject to taxation
for the payment of such indebtedness, ca

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When the governing
body of such town levies a tax upon the property within such town for the purpose
of paying such indebtedness or any part thereof and interest thereon, such
governing body shall have the authority to 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 town all moneys collected by him 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 his 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 shall be 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 shall be deposited with
the treasurer of such town, and a certificate shall be given by him stating that such
payment has been made.

Colorado § 31-12-706 (Land subject to tax for prior indebtedness) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.