§ 32-1-503 — Effect of exclusion order

Colorado § 32-1-503

• Jurisdiction: Colorado
• Title 32: Special
• Art.: Special District Provisions

Text

(1) Territory excluded from a special
district pursuant to the provisions of this part 5 shall not be subject to any property
tax levied by the board for the operating costs of the special district. For the
purpose of retiring the special district's outstanding indebtedness and the interest
thereon existing at the effective date of the exclusion order, the special district
shall remain intact, and the excluded territory shall be obligated to the same extent
as all other property within the special district but only for that proportion of such
outstanding indebtedness and the interest thereon existing immediately prior to the
effective date of the exclusion order. The board shall levy annually a property tax
on all such excluded and remaining property sufficient, together with other funds
and revenues of the special district, to pay such outstanding indebtedness and the
interest thereon. The board is also empowered to establish, maintain, enforce, and,
from time to time, modify such service charges, tap fees, and other rates, fees, tolls,
and charges, upon residents or users in the area of the special district as it existed
prior to the exclusion, as may in the discretion of the board be necessary to
supplement the proceeds of said tax levies in the payment of the outstanding
indebtedness and the interest thereon. In no event shall excluded territory of a
special district become obligated for the payment of any bonded indebtedness
created after the date of the court's exclusion order.

(2) The change of boundaries of the special district shall not impair nor
affect its organization, nor shall it affect, impair, or discharge any contract,
obligation, lien, or charge on which it might be liable or chargeable had such
change of boundaries not been made.

(3) Notice of the court order of any exclusion accomplished pursuant to this
part 5 shall be given in accordance with the provisions of section 32-1-105.

Legislative History

Source: L. 81: Entire article R&RE, p. 1562, � 1, effective July 1.