§ 32-11-642 — Thirty-day payment period - deferred payments

Colorado § 32-11-642

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

Text

(1) All
assessments made in pursuance of the assessment resolution shall be due and
payable without demand not earlier than thirty-one days after its publication upon
its final passage and within sixty days after such publication.

(2) Each such assessment or any part thereof may at the election of the
owner be paid in installments with interest as provided in this article, whenever the
board so authorizes the payment of assessments.

(3) Failure to pay the whole assessment within such period of thirty days
shall be conclusively considered an election on the part of all persons interested,
whether under disability or otherwise, to pay in installments the amount of the
assessment then unpaid.

(4) All persons so electing to pay in installments shall be conclusively
considered as consenting to the project for which each such assessment was
levied, and such election shall be conclusively considered as a waiver of all rights to
question the power of jurisdiction of the urban district to acquire or improve, or
acquire and improve, the project, the quality of the work, the regularity or
sufficiency of the proceedings, or the validity or the correctness of the assessment.

(5) The owner of any tract assessed may at any time pay the whole unpaid
principal and the interest accrued to the next interest payment date, together with
penalties if any. The board may require in the assessment resolution the payment of
a premium for any prepayment not exceeding seven percent of each installment of
principal so prepaid.

(6) Subject to the foregoing provisions, all installments, both of principal and
interest, shall be payable at such times as may be determined in and by the
assessment resolution.

Legislative History

Source: L. 69: p. 801, � 155. C.R.S. 1963: � 89-21-155.