§ 37-46-126.4 — Levies to cover subdistrict deficiencies

Colorado § 37-46-126.4

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

Text

The board of
directors, in certifying annual levies for the subdistrict, shall take into account the
maturing indebtedness for the ensuing year as provided in its contracts, maturing
bonds and interest on bonds, 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 subdistrict, are not sufficient to pay
punctually the annual installments of its contracts or bonds 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 subdistrict is fully paid.

Legislative History

Source: L. 79: Entire section added, p. 1359, � 6, effective May 31.