Colorado Code § 32-11-647

Surpluses and deficiencies
Open in Lexace · Ask the AI about this section
(1) If any assessment proves insufficient to pay
for the project or the work for which it is levied and the expense incident thereto, the amount of
such deficiency shall be paid from the capital improvements fund of the urban district or from
such other account in which moneys are accounted for which may be made available for such
purpose by the board.
(2) If sufficient moneys are not legally available so as to defray the amount of such
deficiency as the respective obligations comprising the cost of the project become due, the urban
district shall budget, appropriate, and levy taxes therefor, subject to the limitation pertaining to
capital improvements in section 32-11-217 (1)(d).
(3) If a greater amount of assessments has been collected than was necessary to defray
the cost of the project of any improvement district to which the assessments pertain, the excess
shall be transferred to the special surplus and deficiency fund of the urban district as provided in
section 32-11-628.

‹ Prev All Colorado sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.