Colorado § 31-25-816 - Funding - budget.
Full text of Colorado Colorado Revised Statutes § 31-25-816 — Funding - budget., with citation guidance and answers to common questions.
§ 31-25-816. Funding - budget.
(1) The authority shall adopt a budget for each fiscal year, shall maintain accounts, and shall cause an annual audit to be made pertaining to the fiscal affairs of the authority. Administrative review of the proposed budget shall be in accordance with the policies of each municipality, prior to submission of the proposed budget to the governing body for approval.
(2) The operations of the authority shall be principally financed from the following sources and such other sources as may be approved by the governing body:
(a) Donations to the authority for the performance of its functions;
(b) Proceeds of an ad valorem tax, not exceeding five mills on the valuation for assessment of property in the downtown development area designated by the governing body;
(c) Moneys borrowed and to be repaid from other funds received under the authority of this part 8.
Source: L. 76: Entire part added, p. 710, § 1, effective April 26.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 31-25-816
What does Colorado Revised Statutes § 31-25-816 cover?
Section 31-25-816 ("Funding - budget.") 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 § 31-25-816?
A common citation format is "Colorado Revised Statutes § 31-25-816" (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 § 31-25-816 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.