Colorado § 32-11-534 - Limitations upon incurring debt.
Full text of Colorado Colorado Revised Statutes § 32-11-534 — Limitations upon incurring debt., with citation guidance and answers to common questions.
§ 32-11-534. Limitations upon incurring debt.
(1) The aggregate amount of indebtedness of the district evidenced by district securities and otherwise by contract with the federal government or any public body, or otherwise, shall not at any time exceed three percent of the valuation for assessment of the taxable property within the district as shown by the last preceding assessment for the purposes of taxation, except as otherwise provided in this article.
(2) No debt within such debt limitation at the time it is incurred by the issuance of district securities or by otherwise obligating the district under contract shall become invalid because of any reduction subsequently of the district's debt-incurring power for any reason.
(3) Nothing in this article authorizes the creation of an indebtedness by any public body located wholly or in part within the district or elsewhere.
Source: L. 69: p. 773, § 76. C.R.S. 1963: § 89-21-76.
Frequently Asked Questions About Colorado § 32-11-534
What does Colorado Revised Statutes § 32-11-534 cover?
Section 32-11-534 ("Limitations upon incurring debt.") 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 § 32-11-534?
A common citation format is "Colorado Revised Statutes § 32-11-534" (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 § 32-11-534 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.