Colorado § 31-3-104 Discontinuance - when effective - legal indebtedness - tax

Colorado Statutes

§ 31-3-104 — Discontinuance - when effective - legal indebtedness - tax

Colorado·Title 31 Government·Art. Discontinuance of Incorporation

If
two-thirds of the total votes cast upon such question are cast Against
incorporation, the incorporation of the city or town shall be discontinued; except
that no such discontinuance shall be effective until such time as the governing
body of the city or town has made proper provisions for the payment of all of its
indebtedness and for the faithful performance of all its contractual and other
obligations, levied the requisite taxes, and appropriated the requisite funds therefor
and until two certified copies of notice of such action with a legal description
accompanied by a map of the area concerned are filed by the city or town with the
county clerk and recorder of the county in which such action has taken place. The
county clerk and recorder shall file the second certified co

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If
two-thirds of the total votes cast upon such question are cast Against
incorporation, the incorporation of the city or town shall be discontinued; except
that no such discontinuance shall be effective until such time as the governing
body of the city or town has made proper provisions for the payment of all of its
indebtedness and for the faithful performance of all its contractual and other
obligations, levied the requisite taxes, and appropriated the requisite funds therefor
and until two certified copies of notice of such action with a legal description
accompanied by a map of the area concerned are filed by the city or town with the
county clerk and recorder of the county in which such action has taken place. The
county clerk and recorder shall file the second certified copy of such notice with
the division of local government of the department of local affairs as provided by
section 24-32-109, C.R.S. For the payment of its indebtedness, the city or town shall
issue warrants in cases where there is no money in the treasury. The county
treasurer shall collect the tax which is levied to pay such indebtedness as he
collects other taxes and shall pay the warrants. Any surplus of this fund shall be
transmitted to the school fund of the district where the same is levied.

Colorado § 31-3-104 (Discontinuance - when effective - legal indebtedness - tax) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.