C.R.S. Section 37-45-126
Levies cover defaults and deficiencies

The board, in making the annual assessments and levies, shall take into account the maturing indebtedness for the ensuing year as provided in its contracts or the maturing of bonds and interest on all bonds and deficiencies and defaults of prior years and shall make ample provision for the payment thereof. In case the proceeds of such levies and assessments made under the provisions of this article, together with other revenues of the district, are not sufficient to punctually pay the annual installments on its contracts or bonds and interest thereon and to pay defaults and deficiencies, then the board shall make such additional levies of taxes or assessments as may be necessary for such purposes; and, notwithstanding any limitations by contract, order, tax lien, or otherwise, such taxes and assessments shall be made and shall continue until the indebtedness of the district is fully paid; except that the additional levies authorized by this section may not be made to cover defaults and deficiencies with respect to evidences of indebtedness authorized and issued by a district pursuant to any law if such evidences of indebtedness declare on their faces that they are payable solely from revenues derived from payments made with respect to contracts which are entered into pursuant to this article and further except that the amount of such additional levies of taxes under class A shall not in any one year exceed an amount that would be raised by a levy of one-half mill against the valuation for assessment of such property as fixed for general tax purposes and further except that such levies for defaults and deficiencies shall not, at any time, be made to impose upon class A payments in excess of twenty-five percent of the anticipated revenue from all sources to be raised for the specific purpose of payment of existing defaults and deficiencies and further except that, in making such additional levies or assessments, the board shall take into account all sources of revenue and equitably distribute the burden of such defaults and deficiencies according to the uses and benefits as provided in this article.

Source: Section 37-45-126 — Levies cover defaults and deficiencies, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-37.­pdf (accessed Oct. 20, 2023).

37‑45‑101
Short title 37‑45‑102
Legislative declaration 37‑45‑103
Definitions 37‑45‑104
Name of district - bonds 37‑45‑105
Liberal construction 37‑45‑106
Constitutional construction clause 37‑45‑107
Repeal - saving clause 37‑45‑108
Jurisdiction of district courts 37‑45‑109
Petition 37‑45‑110
Bond of petitioners 37‑45‑111
Notice of hearing on petition 37‑45‑112
Protests and hearings on petitions 37‑45‑113
Provisions for filing and recording decree of incorporation 37‑45‑114
Appointment of board of directors 37‑45‑115
Organization of the board of directors 37‑45‑116
Meetings and records 37‑45‑117
Employment of agents 37‑45‑118
General powers 37‑45‑119
Power to acquire rights-of-way 37‑45‑120
Subdistricts 37‑45‑121
Classification of taxes and assessments - powers 37‑45‑122
Levy and collection under class A 37‑45‑123
Levy and collection under class B 37‑45‑124
Levy and collection under class C 37‑45‑125
Levy and collection under class D 37‑45‑126
Levies cover defaults and deficiencies 37‑45‑127
Objections to assessments - appeal 37‑45‑128
Officers levy and collect taxes and assessments 37‑45‑129
Sale for delinquencies 37‑45‑130
Exemptions 37‑45‑131
Sale of water by contract 37‑45‑132
Contracts - security - enforcement 37‑45‑133
Sinking fund 37‑45‑134
Additional powers 37‑45‑135
Allotment of water to disabled landowner or administrator 37‑45‑136
Inclusion of lands 37‑45‑137
Exclusion of lands 37‑45‑138
Board to execute contracts - issue bonds 37‑45‑139
Contracts - submission to electors 37‑45‑140
Publication of call 37‑45‑141
Conduct of election 37‑45‑142
Bond elections - subsequent elections 37‑45‑143
Confirmation of contract proceedings 37‑45‑144
Correction of faulty notices 37‑45‑145
Early hearings 37‑45‑146
Dissolution of districts 37‑45‑147
Election for dissolution - petition or resolution filed 37‑45‑148
Notice of election 37‑45‑149
Objections to resolution or petition 37‑45‑150
Election procedure - ballot 37‑45‑151
Majority vote determines question 37‑45‑152
Winding up and dissolution - order entered 37‑45‑153
Validation and recreation of water conservancy districts
Green check means up to date. Up to date

Current through Fall 2024

§ 37-45-126’s source at colorado​.gov