§ 32-7-119 — Levies to cover deficiencies

The board, in certifying annual levies,
shall take into account the maturing indebtedness for the ensuing year as provided
in its contract, maturing bonds and interest on bonds, and deficiencies and defaults
of prior years, and shall make ample provision for the payment thereof. In case the
moneys produced from such levies, together with other revenues of the service
authority, are not sufficient to pay punctually the annual installments on its
contracts or bonds, 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 such taxes shall continue to be levied until the indebtedness of the
service authority is fully paid.

Legislative History

Source: L. 72: p. 468, � 1. C.R.S. 1963: � 89-25-19.