Colorado § 37-5-107 Maintenance fund

Colorado Statutes

§ 37-5-107 — Maintenance fund

Colorado·Title 37 Water and·Art. Financial Administration

(1)To maintain, operate, and preserve the improvements made pursuant to articles 1 to 8 of this title, and to strengthen, repair, and restore the same when needed, and for the purpose of defraying the current expenses of the district, the board of directors may, upon the substantial completion of said improvements, or any unit thereof, and on or before the first Monday in November in each year thereafter, levy an assessment on each tract or parcel of land and upon public corporations, subject to assessments under articles 1 to 8 of this title, to be known as the maintenance fund assessment. Said maintenance fund assessment shall be apportioned upon the basis of the total appraisal of benefits accruing for original and subsequent construction and shall not exceed one percent ther

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(1) To maintain, operate, and preserve the
improvements made pursuant to articles 1 to 8 of this title, and to strengthen,
repair, and restore the same when needed, and for the purpose of defraying the
current expenses of the district, the board of directors may, upon the substantial
completion of said improvements, or any unit thereof, and on or before the first
Monday in November in each year thereafter, levy an assessment on each tract or
parcel of land and upon public corporations, subject to assessments under articles 1
to 8 of this title, to be known as the maintenance fund assessment. Said
maintenance fund assessment shall be apportioned upon the basis of the total
appraisal of benefits accruing for original and subsequent construction and shall
not exceed one percent thereof in any one year, unless the court shall by its order
authorize an assessment of a larger percentage.

(2) Said assessment shall be levied by resolution of the board of directors,
shall be enrolled in the maintenance fund assessment record provided for in this
article (Schedule Form VIII, 2), shall be certified to the treasurers of the several
counties in which lands so assessed are situated, and shall be collected by the
treasurers of said counties and delivered to the treasurer of the district in like
manner and with like effect provided for the enrollment, certification, collection,
and return of other assessments set forth in said articles; except that no such
maintenance assessment shall be payable in annual installments, but the whole
assessment shall be due and payable as and when taxes for county purposes levied
in the same year are due and payable.

(3) The amount of the maintenance assessment paid by any parcel of land
shall not be credited against the benefits appraised against such parcel of land; but
the maintenance assessment shall be in addition to any assessment that has been
or can be levied against the benefits so appraised.

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