§ 37-43-176 — Proceedings in rem - accounting

Colorado § 37-43-176

• Jurisdiction: Colorado
• Title 37: Water and
• Art.: Irrigation Districts of 1905 and 1921

Text

(1) All proceedings upon such
petition shall be considered as in the nature of proceedings in rem, and the court
has power to make any proper orders affecting the rights of all parties interested
therein, and may order all of the corporate property of said irrigation district to be
sold or otherwise disposed of for the benefit of its creditors and the good of the
lands or landowners thereof, and shall take a full and complete accounting of all
the assets and liabilities of such district, and provide for the payment of all its
indebtedness of any sort, either by the sale of its corporate property or by the levy
of assessments or taxes upon all the lands within the boundaries of such district,
which lands shall be assessed for the same amount per acre, or by both such means
and methods. The district court may enter such other and further orders from time
to time for additional levies as may be necessary to pay and discharge all the
indebtedness of said district, whether in the original amount of said indebtedness or
any compromise amount which may be offered by the creditors and bondholders
and approved by the court.

(2) All assessments or taxes shall be collected and their collection enforced
by and according to the methods provided by law for the collection of taxes and
assessments for irrigation district purposes, but it shall not be necessary for any
board of directors of such district to take any part in such proceedings, but certified
copies of the orders, findings, or judgments of the district court filed with the board
of county commissioners shall be sufficient authority for the board of county
commissioners of the proper county to make the levies of taxes or assessments
against the district lands in said orders, findings, or judgments provided.

(3) If the court orders the sale of any district property, a commissioner shall
be appointed for such sale and conveyance of the property, and to report to the
court, and any funds obtained from any such sales shall be deposited with the
district treasurer for the payment of district indebtedness. Sufficient additional
amounts shall be added to the levies to pay the costs of any such proceedings in
the district court, and, after collection, moneys derived from such levies for such
purposes shall be paid by the district treasurer upon order of court and any surplus
shall be used to pay district indebtedness. In case any outstanding warrants or
bonds of the district are surrendered to the court for compromise or for the purpose
of aiding in the closing up of the district affairs, or for other purposes, the court
may enter judgment in behalf of each such creditor for the amount of the
indebtedness ascertained to be due or which such creditor consents he will accept
in satisfaction of such indebtedness and such judgment shall be sufficient warrant
upon the district treasurer to pay the amount thereof out of the funds of the district
obtained upon levies and collection of taxes and assessments or from other
sources. When all the outstanding indebtedness of the district has been paid, the
district court, if so petitioned, may enter findings and decree dissolving such
irrigation district.

Legislative History

Source: L. 21: p. 510, � 8. C.L. � 2104. CSA: C. 90, � 553. CRS 53: � 149-3-75. C.R.S. 1963: � 150-3-75.