(1)To provide for the levy and
collection of taxes, the board shall determine, in each year, the amount of money
necessary to be raised by taxation, taking into consideration other sources of
revenue of the service authority, and shall fix a rate of levy which, when levied upon
every dollar of valuation for assessment of taxable property within the service
authority and together with other revenues, will raise the amount required by the
service authority annually to supply funds for paying the expenses of organization
and the costs of constructing, operating, and maintaining the service authority and
promptly to pay in full, when due, all interest on and principal of bonds and other
obligations of the service authority payable from taxes, and, in the event of
accruing defaults o
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(1) To provide for the levy and
collection of taxes, the board shall determine, in each year, the amount of money
necessary to be raised by taxation, taking into consideration other sources of
revenue of the service authority, and shall fix a rate of levy which, when levied upon
every dollar of valuation for assessment of taxable property within the service
authority and together with other revenues, will raise the amount required by the
service authority annually to supply funds for paying the expenses of organization
and the costs of constructing, operating, and maintaining the service authority and
promptly to pay in full, when due, all interest on and principal of bonds and other
obligations of the service authority payable from taxes, and, in the event of
accruing defaults or deficiencies, an additional levy may be made as provided in
section 32-7-119. The authority of the board under this section and section 32-7-113
(1)(m) is subject to mill levy limitations provided in this article; but, if the board
determines that the maximum mill levy authorized under this article is insufficient
to support any service of the district, the board may submit the question of an
increased mill levy authorization to the eligible electors of the service authority at
the next regular election of the authority.
(2) The board may apply a portion of such taxes and other revenues for the
purpose of creating a reserve fund in such amount as the board may determine,
which may be used to meet the obligations of the service authority for maintenance,
operating expenses, depreciation, and extension and improvement of the facilities
of the service authority.
(3) The board, in accordance with the schedule prescribed by section 39-5-128, C.R.S., shall certify to the board of county commissioners of each county within
the service authority, or having a portion of its territory within the service authority,
the rate so fixed, in order that, at the time and in the manner required by law for
levying taxes, such board of county commissioners shall levy such tax upon the
valuation for assessment of all taxable property which is located within the county
and the service authority.
(4) All taxes levied under this article, together with interest thereon and
penalties for default in payment thereof, and all costs of collecting same, shall
constitute, until paid, a perpetual lien on and against the property, and such lien
shall be on a parity with the tax lien of other general ad valorem taxes.
(5) Property taxes provided for in this article shall be levied, assessed,
collected, remitted, and accounted for in the manner provided for other general ad
valorem taxes.
(6) The board may accept on behalf of the service authority any state-collected, locally-shared taxes of whatever nature or kind if such taxes are
approved and enacted by the general assembly.
(7) The board has the power to deposit or to invest surplus funds in the
manner and form it determines to be most advantageous; but said deposits or
investments must meet the requirements and limitations of part 6 of article 75 of
title 24, C.R.S. For the purpose of making such deposits, the board may appoint, by
written resolution, one or more persons to act as custodians of the moneys of the
district. Such persons shall give surety bonds in such amounts and form and for
such purposes as the board requires.
(8) The board has the power to accept on behalf of the service authority all
funds tendered it from the state, the federal government, or any political
subdivision or agency of either, which funds are specifically intended as incentive
to, or assistance in, the formation, operation, or extension of service authority
activities.
(9) No service authority shall levy a tax for the entire authority or for any
special taxing district or special assessment district for the calendar year during
which it shall have been formed unless, prior to the date specified by section 39-5-128, C.R.S., for certification of the rate of levy for such year, the assessor and board
of county commissioners of each county within the service authority have received
from the board a map and a legal description of such service authority, special
taxing district, or special assessment district and a copy of a budget of such service
authority or district as provided by section 29-1-113, C.R.S., and increased property
tax levies shall be subject to the provisions of section 29-1-301, C.R.S.