§ 32-1-1402 — Definitions

As used in this part 14, unless the context otherwise
requires:

(1) Federal bankruptcy law means chapter 9 of title 11, U.S.C., as the same
may be from time to time amended, or any act of congress relating to the
adjustment or composition of indebtedness of municipalities enacted pursuant to
article I, section 8, clause 4, of the United States constitution concerning uniform
laws on the subject of bankruptcy.

(2) Insolvent taxing district means a taxing district which is able to show to
the United States bankruptcy court in and for the district of Colorado that it has
been unsuccessful with other existing alternatives to bankruptcy and which would
be unable to discharge its obligations as they become due by means of a mill levy
of not less than one hundred mills to be imposed by:

(a) The taxing district; or

(b) Any other taxing district pursuant to a contract which pledges the
revenues of such contract to the payment of such obligations.

(3) Plan means a plan for the adjustment of the debtor's debts under
federal bankruptcy law filed by an insolvent taxing district.

(4) Taxing district means a special district which is organized or acting
under the provisions of this article.

Legislative History

Source: L. 90: Entire part added, p. 1508, � 1, effective May 24.