§ 37-26-113 — Assessments on a parity with general taxes

Colorado § 37-26-113

• Jurisdiction: Colorado
• Title 37: Water and
• Art.: Refunding Bonds

Text

The lien of
assessments to pay refunding bonds and the interest thereon shall be on a parity
with the lien of general taxes, and no sale of property for the nonpayment of
general taxes shall extinguish the lien of such assessments. Except as provided by
this article, the lien of any assessment levied against appraised benefits or
otherwise for the payment of an original issue of bonds and interest thereon shall
continue and persist for the benefit of the owners of refunding bonds, which owners
shall be subrogated to all the rights and remedies of the owners of bonds refunded;
except that if there is a reduction in the amount of outstanding bonds there shall be
a corresponding reduction in the amount of the lien.

Legislative History

Source: L. 33: p. 459, � 10. CSA: C. 57, � 107. CRS 53: � 47-7-13. C.R.S. 1963: � 47-7-13.