Colorado § 37-48-110 - Limitations on power to levy and contract.

§ 37-48-110. Limitations on power to levy and contract.

(1) The district has no power of taxation or right to levy or assess taxes, except an annual levy not to exceed two and one-half mills on each dollar of the valuation for assessment of property in said district. The district has no power to contract or incur any obligation or indebtedness except as expressly provided in this article, and then any obligation or indebtedness so contracted or incurred is payable out of the funds derived through said limited tax and not otherwise, but said district, for and in behalf of any subdistrict or improvement district created under this article, shall have the right and authority to approve and incur subdistrict obligations and to issue warrants, notes, bonds, or other evidences of said obligations, as expressly authorized in this article and not otherwise, and such subdistrict obligations shall never be obligations or indebtednesses of the district and shall be payable only as provided in this article.

(2) Before July 1, 2024, all assessments under this article 48 shall be collected by the county treasurers of the respective counties in which said real estate is situated at the same time and in the same manner as is provided by law for the collection of taxes for county and state purposes, and, if said assessments are not paid, the real estate shall be sold at regular tax sales for the payment of said assessments, interest, and penalties in the manner provided by the statutes of the state of Colorado for selling property for the payment of general taxes. If there are no bids at said tax sales for the property so offered, said property shall be struck off to the district, and the tax certificates shall be issued in the name of the district; and the board of directors has the same power with reference to the sale of said tax certificates as is now vested in county commissioners and county treasurers when property is struck off to the counties.

(3) Before July 1, 2024, tax deeds may be issued, based upon said certificates of sale, in the same manner that deeds are executed on tax sales on general state and county taxes.

(4) Notwithstanding any law to the contrary, on or after July 1, 2024, the district, a subdistrict, or a county treasurer shall follow the procedures established in article 11.5 of title 39 and shall not follow the procedures established in this section or article 11 of title 39 concerning the sale or striking off of property to the district or the issuance of a certificate of sale or tax deed. Notwithstanding any law to the contrary, on or after July 1, 2024, a lot or parcel of land shall not be struck off to the district and a tax certificate or tax deed shall not be issued pursuant to this section or article 11 of title 39 to the extent such actions would be inconsistent with the requirements of article 11.5 of title 39.

Source: L. 67: p. 668, § 1. C.R.S. 1963: § 150-10-10. L. 73: p. 1419, § 111. L. 75: Entire section amended, p. 1370, § 3, effective July 18. L. 83: (1) amended, p. 1397, § 2, effective March 22. L. 2024: (2) and (3) amended and (4) added, (HB 24-1056), ch. 165, p. 809, § 23, effective July 1.

Cross references: For use of the term "warrants", see § 37-48-146.