§ 37-43-165 — Plan must provide for adequate levies

No plan of liquidation
shall be approved by the court which does not provide for the making of all levies
required by the laws of the state of Colorado for the payment of all valid
indebtedness of the district. In the petition mentioned in section 37-43-157, it shall
not be necessary to include in the schedule of indebtedness any bond, coupon,
warrant, or other indebtedness, claim, or demand which has been barred by the
laws of this state, nor shall it be necessary to include in the schedule of
indebtedness any bond, coupon, warrant, or other indebtedness for the payment of
which all levies required by the laws of the state of Colorado have been made prior
to the filing of said petition with the board of directors of said irrigation district, nor
shall it be necessary in winding up the affairs of any district organized under the
laws of this state to pay all or any portion of a debt or obligation of such district for
the enforcement of which debt or obligation a suit is barred by the laws of this
state, nor shall it be necessary to pay, except from the proceeds of tax levies
therefor already made, all or any portion of a debt or obligation of such district for
the payment of which all levies required by the laws of the state of Colorado have
been made.

Legislative History

Source: L. 15: p. 312, � 10. C.L. � 2044. CSA: C. 90, � 542. L. 41: p. 524, � 3. CRS 53: � 149-3-64. C.R.S. 1963: � 150-3-64.