In the event that the sum produced from general ad valorem property tax levies totaling less than the maximum levy authorized by section 32-9-120 (1), together with any unencumbered revenues and moneys of the district, are insufficient to pay, when due, installments on contracts and securities of the district and interest thereon and to pay defaults and deficiencies, the board shall make such additional levies of taxes as may be necessary, subject to the provisions and limitations of section 32-9-120 (1), until such contracts and securities and interest thereon are fully paid. In no case shall the mill levy exceed one-half mill. No levies shall be made pursuant to this section to pay any amount of special obligations of the district payable solely from sales taxes and the revenues, or a combination thereof, of the district.
Source: L. 69: p. 720, § 1. C.R.S. 1963: § 89-20-20. L. 73: p. 992, § 4. L. 80: Entire section amended, p. 683, § 6, effective May 1. L. 81: Entire section amended, p. 1646, § 5, effective June 8. L. 82: Entire section amended, p. 500, § 5, effective April 15. L. 2000: Entire section amended, p. 308, § 4, effective April 5.
Structure Colorado Code
Article 9 - Regional Transportation District Act
§ 32-9-102. Legislative Declaration
§ 32-9-104. Liberal Construction
§ 32-9-105. Creation of District
§ 32-9-106.6. Additional District Areas as a Result of Annexation
§ 32-9-106.7. Additional District Area - Petition or Election - Required Filings - Definitions
§ 32-9-106.9. District Area - Town of Castle Rock in Douglas County
§ 32-9-107. Mass Transportation System
§ 32-9-107.5. Regional Fixed Guideway Mass Transit System - Authorization
§ 32-9-107.7. Regional Fixed Guideway Mass Transit Systems - Construction - Authorization
§ 32-9-109.5. Board of Directors - Membership - Powers
§ 32-9-111. Election of Directors - Dates - Terms
§ 32-9-112. Vacancies - Appointments - Recall
§ 32-9-114. Board's Administrative Powers
§ 32-9-115. Records of Board - Audits
§ 32-9-117. Compensation of Directors
§ 32-9-118. Conflicts in Interest Prohibited
§ 32-9-119. Additional Powers of District
§ 32-9-119.3. Elections for Sales Tax Rate Increase
§ 32-9-119.4. Election for a Sales Tax Rate Increase - Petition Requirement
§ 32-9-119.7. Cost Efficiency of Transit Services - Reporting - Plans
§ 32-9-120. Levy of Taxes - Limitations
§ 32-9-121. Levies to Cover Deficiencies
§ 32-9-122. Levying and Collecting Taxes - Lien
§ 32-9-123.5. Prohibition on Borrowing by District
§ 32-9-124. Forms of Borrowing
§ 32-9-126. Issuance of Warrants
§ 32-9-127. Maturities of Notes and Warrants
§ 32-9-128. Incurrence of Special Obligations
§ 32-9-128.5. Private Activity and Exempt Facility Bonds
§ 32-9-129. Issuance of Temporary Bonds
§ 32-9-130. Issuance of Interim Notes
§ 32-9-131. Pledge of Proceeds of Sales Taxes and Revenues
§ 32-9-132. Ranking Among Different Issues
§ 32-9-133. Ranking in Same Issue
§ 32-9-134. Payment Recital in Securities
§ 32-9-135. Incontestable Recital in Securities
§ 32-9-136. Limitation Upon Payment
§ 32-9-140. Sale of Securities
§ 32-9-141. Application of Proceeds
§ 32-9-142. Use of Unexpended Proceeds
§ 32-9-143. Covenants in Security Proceedings
§ 32-9-144. Remedies of Security Holders
§ 32-9-145. Limitations Upon Liabilities
§ 32-9-146. Interest After Maturity
§ 32-9-148. Issuance of Interim Notes
§ 32-9-150. Election Resolution
§ 32-9-151. Conduct and Costs of Elections
§ 32-9-156. District - Tax Exempted
§ 32-9-158. Merger, Consolidation, or Assumption of District
§ 32-9-159. Freedom From Judicial Process