The governing body, in certifying annual levies, shall take into account the maturing indebtedness for the current and ensuing year as provided in its contracts, maturing bonds, and interest on bonds and the deficiencies and defaults of prior years and shall make ample provisions for the payment thereof. In case the moneys produced from such levies, together with other revenues of the library district or facilities district, are not sufficient to pay punctually the annual installments on its contracts or bonds and interest thereon and to pay defaults and deficiencies, the governing body, from year to year, shall make such additional levies of taxes as may be necessary for such purposes, and, notwithstanding any limitations, such taxes shall be levied and shall continue to be levied until the indebtedness of the library district or facilities district is fully paid.
Source: L. 2003: Entire part added, p. 2473, § 29, effective August 15.
Structure Colorado Code
Part 5 - Library Capital Facilities Districts
§ 24-90-502. Legislative Declaration
§ 24-90-504. Authority of Governing Body
§ 24-90-505. Organization - Preliminary Resolution
§ 24-90-506. Notice of Hearing - Disqualification of Member of Governing Body
§ 24-90-507. Hearing - Resolution - When Action Barred
§ 24-90-508. Recording of Resolution Establishing Area
§ 24-90-509. Governing Body - Meetings
§ 24-90-510. General Powers of Facilities District
§ 24-90-511. Power to Levy Taxes
§ 24-90-512. Determining and Fixing Rate of Levy
§ 24-90-513. Levies to Cover Deficiencies
§ 24-90-514. County Officers to Levy and Collect Taxes - Lien
§ 24-90-515. Property Sold for Taxes
§ 24-90-516. Governing Body Can Issue Bonds - Form
§ 24-90-517. Dissolution Procedures