§ 32-11-302 — Levies to cover deficiencies

Colorado § 32-11-302

• Jurisdiction: Colorado
• Title 32: Special
• Art.: Urban Drainage and Flood Control Act

Text

(1) The board, in certifying annual
levies, shall take into account the maturing obligations for the ensuing year as
provided in its contracts, maturing securities, and interest on securities, and
deficiencies and defaults in prior years, and shall make ample provision for the
payment thereof.

(2) In case the moneys produced from such levies, together with the
revenues and any other moneys of the district, are not sufficient punctually to pay
the annual installments of its contracts or securities and interest thereon, and to
pay defaults and deficiencies, the board shall make such additional levies of taxes
as may be necessary for such purposes, and notwithstanding any limitations,
except the limitations in section 32-11-217 (1)(d), such taxes shall be made and
continue to be levied until the obligations of the district payable from taxes are
fully paid.

Legislative History

Source: L. 69: p. 757, � 27. C.R.S. 1963: � 89-21-27.