(1) Notwithstanding any other provision of law or this article to the contrary, no general ad valorem property taxes shall be levied, directly or indirectly, by the district under the provisions of this article, except for the payment of any annual deficit, if any, in the operation and maintenance expenses of the district, such levy not to exceed one-half mill on each dollar of valuation for assessment each year.
Annually, the board shall determine the amount of money necessary to be raised bytaxation for the coming year and shall fix a rate of levy, subject to the provisions of subsection (1) of this section, which rate when levied upon every dollar of valuation for assessment of taxable property within the district, together with any other unencumbered revenues and moneys of the district, shall raise that sum necessary to pay in full all interest and principal on securities of the district, except special obligations payable solely from the revenues of the district, and to pay, to the extent permitted by this section, all other obligations of the district that the district can pay under this article with taxes coming due within the coming year, but excluding any special obligations.
The board shall certify to the counties of the district and the city and county of Denver, in accordance with the schedule prescribed by section 39-5-128, C.R.S., the rate so fixed in subsection (2) of this section, with directions to such counties and the city and county of Denver to levy and collect such taxes upon the taxable property within their respective counties or the city and county and to levy and collect such other taxes pursuant to section 32-9-121.
Repealed.
Source: L. 69: p. 720, § 1. C.R.S. 1963: § 89-20-19. L. 70: p. 293, § 102. L. 71: p. 979, § 3. L. 73: p. 992, § 3. L. 80: (1) amended and (4) added, p. 683, § 5, effective May 1. L. 81: (1) amended, p. 1646, § 4, effective June 8. L. 82: (1) amended and (4) repealed, pp. 500, 502, §§ 4, 8, effective April 15. L. 87: (3) amended, p. 1407, § 4, effective April 22. L. 2000: (2) amended, p. 308, § 3, effective April 5.