§ 32-1-708 — Disposition of remaining funds - unpaid tax or levies

Colorado § 32-1-708

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

Text

(1) If
services are to be continued within the special district, all funds remaining in the
treasury of such special district in excess of all financial obligations and
outstanding bonds shall be utilized, upon completion of the requirements for
dissolution, to reduce the rates, tolls, fees, and charges fixed by the contracting
municipality, county, intergovernmental authority formed and operated under part 2
of article 1 of title 29, C.R.S., other special district, or regional service authority to
finance the services continued in the special district. If services are not to be
continued within the special district, such funds shall be divided among the
municipalities and counties in which the special district is located, pro rata, as the
valuation for assessment of taxable property in the parts of the special district
lying in each municipality and unincorporated portions of each county bears to the
total valuation for assessment of the taxable property of the special district as
determined by the respective county assessors for the preceding tax year.

(2) All outstanding and unpaid tax sales and levies of a dissolved special
district shall be valid and remain a lien against the property against which they are
assessed or levied until paid, subject, however, to the limitations of liens of tax
certificates and of certificates of purchase provided by general law. The board of
county commissioners has the same power to enforce the collection of all
outstanding tax sales of the special district as the special district would have had if
it had not been dissolved. Taxes paid or collected after dissolution shall be
distributed in the same manner as provided in subsection (1) of this section.

Legislative History

Source: L. 81: Entire article R&RE, p. 1573, � 1, effective July 1. L. 91: (1) amended, p. 797, � 4, effective April 10.