C.R.S. Section 32-7-118
Levy and collection of taxes


(1)

To provide for the levy and collection of taxes, the board shall determine, in each year, the amount of money necessary to be raised by taxation, taking into consideration other sources of revenue of the service authority, and shall fix a rate of levy which, when levied upon every dollar of valuation for assessment of taxable property within the service authority and together with other revenues, will raise the amount required by the service authority annually to supply funds for paying the expenses of organization and the costs of constructing, operating, and maintaining the service authority and promptly to pay in full, when due, all interest on and principal of bonds and other obligations of the service authority payable from taxes, and, in the event of accruing defaults or deficiencies, an additional levy may be made as provided in section 32-7-119. The authority of the board under this section and section 32-7-113 (1)(m) is subject to mill levy limitations provided in this article; but, if the board determines that the maximum mill levy authorized under this article is insufficient to support any service of the district, the board may submit the question of an increased mill levy authorization to the eligible electors of the service authority at the next regular election of the authority.

(2)

The board may apply a portion of such taxes and other revenues for the purpose of creating a reserve fund in such amount as the board may determine, which may be used to meet the obligations of the service authority for maintenance, operating expenses, depreciation, and extension and improvement of the facilities of the service authority.

(3)

The board, in accordance with the schedule prescribed by section 39-5-128, C.R.S., shall certify to the board of county commissioners of each county within the service authority, or having a portion of its territory within the service authority, the rate so fixed, in order that, at the time and in the manner required by law for levying taxes, such board of county commissioners shall levy such tax upon the valuation for assessment of all taxable property which is located within the county and the service authority.

(4)

All taxes levied under this article, together with interest thereon and penalties for default in payment thereof, and all costs of collecting same, shall constitute, until paid, a perpetual lien on and against the property, and such lien shall be on a parity with the tax lien of other general ad valorem taxes.

(5)

Property taxes provided for in this article shall be levied, assessed, collected, remitted, and accounted for in the manner provided for other general ad valorem taxes.

(6)

The board may accept on behalf of the service authority any state-collected, locally-shared taxes of whatever nature or kind if such taxes are approved and enacted by the general assembly.

(7)

The board has the power to deposit or to invest surplus funds in the manner and form it determines to be most advantageous; but said deposits or investments must meet the requirements and limitations of part 6 of article 75 of title 24, C.R.S. For the purpose of making such deposits, the board may appoint, by written resolution, one or more persons to act as custodians of the moneys of the district. Such persons shall give surety bonds in such amounts and form and for such purposes as the board requires.

(8)

The board has the power to accept on behalf of the service authority all funds tendered it from the state, the federal government, or any political subdivision or agency of either, which funds are specifically intended as incentive to, or assistance in, the formation, operation, or extension of service authority activities.

(9)

No service authority shall levy a tax for the entire authority or for any special taxing district or special assessment district for the calendar year during which it shall have been formed unless, prior to the date specified by section 39-5-128, C.R.S., for certification of the rate of levy for such year, the assessor and board of county commissioners of each county within the service authority have received from the board a map and a legal description of such service authority, special taxing district, or special assessment district and a copy of a budget of such service authority or district as provided by section 29-1-113, C.R.S., and increased property tax levies shall be subject to the provisions of section 29-1-301, C.R.S.

Source: Section 32-7-118 — Levy and collection of taxes, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-32.­pdf (accessed Oct. 20, 2023).

32‑7‑101
Short title
32‑7‑102
Legislative declaration
32‑7‑103
Definitions
32‑7‑104
Territorial requirements for service authorities
32‑7‑105
Petition or resolution for formation - designation of services
32‑7‑106
Priority of petition or resolution
32‑7‑107
Court appoints an organizational commission and election committee
32‑7‑108
Service authority organizational commission
32‑7‑109
Election for formation, selection of services, and initial board of directors
32‑7‑110
Board of directors
32‑7‑111
Designation of services
32‑7‑112
Local authorization of functions, services, and facilities
32‑7‑113
General powers
32‑7‑114
Duties related to planning powers
32‑7‑115
Ancillary powers
32‑7‑116
Powers to be exercised without franchise - condition
32‑7‑117
Revenues of service authority - collection
32‑7‑118
Levy and collection of taxes
32‑7‑119
Levies to cover deficiencies
32‑7‑120
Power to issue revenue bonds - terms
32‑7‑121
Power to incur indebtedness - interest - maturity - denominations
32‑7‑122
Debt question submitted to electors - resolution
32‑7‑123
Effect - subsequent elections
32‑7‑124
Correction of faulty notices
32‑7‑125
Refunding bonds
32‑7‑126
Limitations upon issuance
32‑7‑127
Use of proceeds of refunding bonds
32‑7‑128
Combination of refunding and other bonds
32‑7‑129
Board’s determination final
32‑7‑130
Anticipation warrants
32‑7‑131
Inclusion - counties - municipality - existing service authority - procedures
32‑7‑132
Special taxing districts authorized
32‑7‑133
Formation of special taxing districts
32‑7‑134
Local improvement districts authorized
32‑7‑135
Procedures to establish local improvement districts
32‑7‑136
Special districts - transfer of responsibility
32‑7‑137
Special districts - formation within service authority territory forbidden
32‑7‑138
Transfer and assumption of services
32‑7‑139
Payments for facilities acquired by regional service authority - valuation
32‑7‑140
Public transportation
32‑7‑141
Sewage collection, treatment, and disposal
32‑7‑142
Urban drainage and flood control
32‑7‑143
Assumption of services by a service authority in the Denver metropolitan area
32‑7‑144
Dissolution
32‑7‑145
Early hearings
32‑7‑146
Elections
Green check means up to date. Up to date

Current through Fall 2024

§ 32-7-118’s source at colorado​.gov