§ 37-46-109.4 — Levies to cover district's deficiencies

Colorado § 37-46-109.4

• Jurisdiction: Colorado
• Title 37: Water and
• Art.: Colorado River Water Conservation District

Text

The board of directors,
in certifying annual levies for the district, shall take into account the maturing
indebtedness incurred by the district by contract other than the issuance of bonds
for the ensuing year as provided in its contracts and deficiencies and defaults of
prior years and shall make ample provision for the payment thereof. In case the
moneys produced from such levies, together with other revenues of the district, are
not sufficient to pay punctually the annual installments of such contracts and
interest thereon and to pay defaults and deficiencies, the board shall make such
additional levies of taxes as may be necessary for such purposes, and such taxes
shall be made and shall continue to be levied until the indebtedness of the district
is fully paid.

Legislative History

Source: L. 79: Entire section added, p. 1356, � 3, effective May 31.