Colorado § 29-3-119 - No county or municipal operation.
Full text of Colorado Colorado Revised Statutes § 29-3-119 — No county or municipal operation., with citation guidance and answers to common questions.
§ 29-3-119. No county or municipal operation.
(1) When all principal of, interest on, and any prior redemption premium due in connection with the bonds issued for a project leased to a user have been paid in full and in the event the option to purchase or option to renew the lease, if any, contained in the lease has not been exercised as to all of the property contained in the project, the lease shall terminate and the county or municipality shall sell such remaining property or devote the same to county or municipal purposes other than manufacturing, commercial, or industrial.
(2) Any such sale which is not made pursuant to the exercise of an option to purchase by the user of a project shall be conducted in the same manner as is then provided by law governing the issuer's sale of surplus property.
Source: L. 67: p. 677, § 19. C.R.S. 1963: § 36-24-19. L. 73: p. 480, § 14.
ANNOTATION
This section and § 29-3-102 prohibit county operation of the project. Allardice v. Adams County, 173 Colo. 133, 476 P.2d 982 (1970).
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 29-3-119
What does Colorado Revised Statutes § 29-3-119 cover?
Section 29-3-119 ("No county or municipal operation.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 29-3-119?
A common citation format is "Colorado Revised Statutes § 29-3-119" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 29-3-119 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.