§ 37-45-132 — Contracts - security - enforcement

Colorado § 37-45-132

• Jurisdiction: Colorado
• Title 37: Water and
• Art.: Water Conservancy Districts

Text

(1) To meet the annual
installments as provided in contracts for the use of water:

(a) A water users' association may bind itself to levy an annual assessment
on the use of water and to secure same by liens on land and water rights or in such
manner as may be provided by law;

(b) A mutual ditch or irrigation company may bind itself by mortgage upon its
irrigation works and system or to levy annual assessments upon its stockholders;

(c) Any person or corporation landowner may create a mortgage lien upon
lands or give other security satisfactory to the board; and all such contracts shall
provide for forfeiture of the use of water for nonpayment of assessments or
installments in the same manner and procedure as provided by statute for
forfeiture of stock in a mutual ditch company;

(d) A public corporation shall meet the annual installments as provided in
sections 37-45-123 and 37-45-124.

Legislative History

Source: L. 37: p. 1346, � 26. CSA: C. 173B, � 40. CRS 53: � 149-6-27. L. 60: p. 223, � 4. C.R.S. 1963: � 150-5-27.