§ 32-11-647 — Surpluses and deficiencies

(1) If any assessment proves
insufficient to pay for the project or the work for which it is levied and the expense
incident thereto, the amount of such deficiency shall be paid from the capital
improvements fund of the urban district or from such other account in which
moneys are accounted for which may be made available for such purpose by the
board.

(2) If sufficient moneys are not legally available so as to defray the amount
of such deficiency as the respective obligations comprising the cost of the project
become due, the urban district shall budget, appropriate, and levy taxes therefor,
subject to the limitation pertaining to capital improvements in section 32-11-217
(1)(d).

(3) If a greater amount of assessments has been collected than was
necessary to defray the cost of the project of any improvement district to which the
assessments pertain, the excess shall be transferred to the special surplus and
deficiency fund of the urban district as provided in section 32-11-628.

Legislative History

Source: L. 69: p. 803, � 160. C.R.S. 1963: � 89-21-160.