§ 37-43-164 — Apportionment of indebtedness

In any such proceeding for the
dissolution of any irrigation district, the district court also has power, subject to
such terms and conditions as it may deem just and equitable under the
circumstances, to apportion the bonded indebtedness of the district among the
various tracts of land within said district, each irrigable acre being liable for the
same amount, and to provide for the release and extinguishment of the lien
securing the bonds of said district or a part or portion thereof against all or any of
said tracts of land upon the payment of all or a pro rata amount of said bonded
indebtedness by the landowner either in cash or by the surrender by said landowner
of an equivalent amount of said district bonds, coupons, or warrants. In the event
the lien of said bonds, coupons, or warrants is so extinguished pursuant to said
decree of said district court against any tract of land within said district, it is the
duty of the county treasurer to issue a certificate to said landowner evidencing the
extinguishment of said lien, and said certificate may be recorded and when
recorded shall be conclusive evidence that the land described therein has been
released and relieved from the lien securing the bonds of said district.

Legislative History

Source: L. 15: p. 311, � 9. C.L. � 2043. CSA: C. 90, � 541. L. 41: p. 523, � 2. CRS 53: � 149-3-63. C.R.S. 1963: � 150-3-63.