Colorado § 31-21-101 - Definitions.
Full text of Colorado Colorado Revised Statutes § 31-21-101 — Definitions., with citation guidance and answers to common questions.
§ 31-21-101. Definitions.
As used in this part 1, unless the context otherwise requires:
(1) "Floating indebtedness" means all obligations of the municipality to pay money, of whatever kind or character, except indebtedness evidenced by outstanding negotiable interest-bearing bonds of the municipality.
Source: L. 75: Entire title R&RE, p. 1134, § 1, effective July 1.
Editor's note: This section is similar to former § 31-21-101 as it existed prior to 1975.
ANNOTATION
By the term "floating debt" is meant that mass of lawful and valid claims against the corporation, for the payment of which there is no money in the corporate treasury specifically designed, nor any taxation or other means of providing money to pay, particularly provided. Thomas S. Hayden Realty Co. v. Town of Aurora, 62 Colo. 563, 163 P. 843 (1917) (decided prior to L. 17, p. 520, § 2, the earliest source of former section).
Frequently Asked Questions About Colorado § 31-21-101
What does Colorado Revised Statutes § 31-21-101 cover?
Section 31-21-101 ("Definitions.") 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 § 31-21-101?
A common citation format is "Colorado Revised Statutes § 31-21-101" (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 § 31-21-101 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.