Colorado § 32-15-123 Revenue sharing

Colorado Statutes

§ 32-15-123 — Revenue sharing

Colorado·Title 32 Special·Art. Metropolitan Football Stadium District Act

After all the principal, interest, and premium, if any,
of the special obligation bonds issued pursuant to this article are paid in full and
the levy and collection of sales tax and admissions tax revenues by the district is
discontinued, but prior to the repeal of this article, any funds collected by the
district that are, in the sole discretion of the board, deemed not to be necessary for
the anticipated expenses and reserves of the district shall be credited at least
annually to the general fund of each county, city and county, city, and town which is
included, in whole or in part, in the district based upon the proportion of the total
amount of sales tax revenues collected pursuant to section 32-15-110 within such
county, city and county, city, and town to the total amount of 

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After all the principal, interest, and premium, if any,
of the special obligation bonds issued pursuant to this article are paid in full and
the levy and collection of sales tax and admissions tax revenues by the district is
discontinued, but prior to the repeal of this article, any funds collected by the
district that are, in the sole discretion of the board, deemed not to be necessary for
the anticipated expenses and reserves of the district shall be credited at least
annually to the general fund of each county, city and county, city, and town which is
included, in whole or in part, in the district based upon the proportion of the total
amount of sales tax revenues collected pursuant to section 32-15-110 within such
county, city and county, city, and town to the total amount of sales tax revenues
collected pursuant to section 32-15-110 within the district. For purposes of this
section, the total amount of sales tax revenues collected within a county shall not
include any sales tax revenues collected in any city or town located within such
county. In addition, in computing said proportion, any sales tax revenues collected
in any county, city, or town which is not included, in whole or in part, within the
geographical boundaries of the district shall not be included in the total amount of
sales tax revenues collected within the district.

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