Colorado § 31-25-1214 Determining and fixing rate of levy

Colorado Statutes

§ 31-25-1214 — Determining and fixing rate of levy

Colorado § 31-25-1214

Title 31Government

Art.Public Improvements

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Bluebook

Colo. Rev. Stat. § 31-25-1214 (2026).

Text

The board shall determine
the amount of money necessary to be raised by a levy on the taxable property in the
district, taking into consideration other sources of revenue of the district, and shall
fix a rate of levy which, when levied upon every dollar of the valuation for
assessment of taxable property within the district together with other revenues,
shall raise the amount required by the district during the ensuing fiscal year to
supply funds for paying the expenses of organization and the costs of providing the
services of the district and acquiring, constructing, installing, and operating the
improvements or works of the district and promptly to pay in full when due all
interest on and principal of bonds and other obligations of the district. In the event
of accruing defaul

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The board shall determine
the amount of money necessary to be raised by a levy on the taxable property in the
district, taking into consideration other sources of revenue of the district, and shall
fix a rate of levy which, when levied upon every dollar of the valuation for
assessment of taxable property within the district together with other revenues,
shall raise the amount required by the district during the ensuing fiscal year to
supply funds for paying the expenses of organization and the costs of providing the
services of the district and acquiring, constructing, installing, and operating the
improvements or works of the district and promptly to pay in full when due all
interest on and principal of bonds and other obligations of the district. In the event
of accruing defaults or deficiencies, additional levies may be made as provided in
section 31-25-1215. In accordance with the time schedule provided in section 39-5-128, C.R.S., the board shall certify to the board of county commissioners of each
county in which the district or a portion thereof lies the rate so fixed in order that, at
the time and in the manner required by law for the levying of taxes, such board of
county commissioners shall levy such tax upon the valuation for assessment of all
taxable property within the district.