Colorado § 31-21-406 - Suit by bondholder - city or town to protect.
Full text of Colorado Colorado Revised Statutes § 31-21-406 — Suit by bondholder - city or town to protect., with citation guidance and answers to common questions.
§ 31-21-406. Suit by bondholder - city or town to protect.
In the event that any action, suit, or proceeding is brought by any bondholder, creditor, or other person, wherein it is sought to compel the levy of any further bond tax on property which has been discharged from said tax by payment in full, the city or town shall take all necessary steps to protect said property on which the tax has been paid in full by purchasing property sold for the nonpayment of such tax in the event that there are no other purchasers and by making ample provisions for the payment of delinquent bond taxes or the installments thereof out of the general fund or any other available fund, the intention being that, as between the city or town and the taxpayer, any particular property may be fully discharged and relieved from the lien of such tax or the levy of any further tax for the same purpose by payment in full of its proportionate share thereof at the time of payment.
Source: L. 75: Entire title R&RE, p. 1143, § 1, effective July 1.
Editor's note: This section is similar to former § 31-21-406 as it existed prior to 1975.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 31-21-406
What does Colorado Revised Statutes § 31-21-406 cover?
Section 31-21-406 ("Suit by bondholder - city or town to protect.") 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 § 31-21-406?
A common citation format is "Colorado Revised Statutes § 31-21-406" (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 § 31-21-406 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.