Certification - tax revenues.

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(1) In accordance with the schedule prescribed by section 39-5-128, C.R.S., the district shall certify to the board of county commissioners of the county wherein said district is located the separate amounts necessary, in the judgment of the board of trustees, to be raised from levies against the valuation for assessment of all taxable property located within the boundaries of said district for its general, bond redemption, and capital reserve funds to defray its expenditures therefrom during its next ensuing fiscal year.

  1. If only a portion of a district is located within a county, the board of trustees of saiddistrict shall certify the separate amounts to the board of county commissioners of each county wherein a portion of said district is located. The board of county commissioners of each such county shall levy a tax upon the taxable property located within said portion of the district included in its county at a rate sufficient to produce a pro rata share of each separate amount certified, such pro rata share to be based on the ratio of the valuation for assessment of taxable property located within that portion of said school district located within said county to the total valuation for assessment of taxable property located in the entire district; except that the rate of tax levies for said district shall be the same throughout the territorial limits of said district except for a variation in the tax levy needed for the bond redemption fund of said district, which rate may vary because of changes in the boundaries of said district.

  2. The levy for the capital reserve fund shall not exceed four mills in any year.

  3. (a) Whenever, after a reorganization, any district has within its boundaries any new territory, the board of trustees of the district shall certify to the board of county commissioners the amount required during the next ensuing fiscal year to satisfy such territory's proportionate share of the obligations of the outstanding bonded indebtedness.

(b) If, after reorganization of the district, there is any territory liable for the payment of bonded indebtedness, different either in amounts, dates of creation, or dates of interest or principal maturities, then, in certifying to the boards of county commissioners the statement of the amount necessary to be raised from levies pursuant to subsection (1) of this section, it is the duty of the board of trustees of such district to also certify to the board of county commissioners the territory which has bonded indebtedness outstanding, the legal description of the territory liable for the payment of such bonded indebtedness, or portion thereof, and the amount required during the ensuing fiscal year to meet payments of interest and principal falling due therein. A separate levy, sufficient to raise the amount so certified, shall be made against the valuation for assessment of all taxable property located within such territory. The proceeds of such levy shall be credited to the bond redemption fund of the district, but a separate account within such bond redemption fund shall be maintained to clearly reflect the amount raised from such separate levy.

Source: L. 75: Entire article added, p. 764, § 1, effective July 1. L. 86: (1), (2), and (4) amended, p. 858, § 35, effective July 1. L. 87: (1) amended, p. 1406, § 2, effective April 22.


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