Colorado Code § 30-20-519

Reserve fund. Whenever any indebtedness has been incurred by a district, it
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is lawful for the board to levy taxes and collect revenue 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 district, for operating charges and depreciation, and to provide extensions and betterments of
the authorized improvements of the district.

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