Colorado § 31-21-401 Power to levy - manner paid

Colorado Statutes

§ 31-21-401 — Power to levy - manner paid

Colorado·Title 31 Government·Art. Bonds

On the petition of a majority of the
registered electors of any city or town having an outstanding bonded indebtedness
amounting to one-fourth or more of its valuation for assessment, the governing
body of such city or town is authorized to levy or cause to be levied at one time a
tax on all the taxable property subject to taxes for payment of such bonds
sufficient to discharge the entire principal of and the accrued interest on such
indebtedness plus fifteen percent for delinquencies, which tax may be paid by the
property owners at one time or in installments, as provided in this part 4. In
determining the amount of outstanding bonded indebtedness, any sum in the
sinking fund may be deducted.

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On the petition of a majority of the
registered electors of any city or town having an outstanding bonded indebtedness
amounting to one-fourth or more of its valuation for assessment, the governing
body of such city or town is authorized to levy or cause to be levied at one time a
tax on all the taxable property subject to taxes for payment of such bonds
sufficient to discharge the entire principal of and the accrued interest on such
indebtedness plus fifteen percent for delinquencies, which tax may be paid by the
property owners at one time or in installments, as provided in this part 4. In
determining the amount of outstanding bonded indebtedness, any sum in the
sinking fund may be deducted.

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