LEG00101

• Bill Number: SB04-232
• Year: 2004
• Title: Concerning the creation of a front range water conservation district
• Legislation - Doc Type: Other CWCB Related Bills - Killed

1 (2) HEARINGSMAYBECONTINUEDBYTHECOURTONTHEPETITION

2 FOR DISSOLUTION AS NECESSARY TO COMPLETE THE PROCEEDINGS

3 AUTHORIZED BY THIS PART 9. No PETITION SHALL BE DECLARED VOID ON

4 ACCOUNT OF ALLEGED DEFECTS, BUT THE COURT MAY AT ANYTIME PERMIT

5 THE PETITION TO BE AMENDED TO CONFORM TO THEF ACTS BY CORRECTING

6 ANY ERRORS IN THE DESCRIPTION OF THE TERRITORY OR IN ANY OTHER

7 PARTICULAR.

8 (3) IF THE COURT FINDS THAT THE DISTRICT HAS NO FINANCIAL

9 OBLIGATIONS OR OUTSTANDING BONDS OR THAT THE DISTRICT'S FINANCIAL

10 OBLIGATIONS AND OUTSTANDING BONDS WILL BE ADEQUA TEL Y PROVIDED

11 FOR PRIOR TO DISSOLUTION BY MEANS OF ESCROW FUNDS OR SECURITIES

12 MEETING THE INVESTMENT REQUIREMENTS ESTABLISHED IN PART 6 OF

13 ARTICLE 75 OF TITLE 24, C.R.S., TO SECURE PAYMENT THEREOF, THAT THE

14 PETITION FOR DISSOLUTION MEETS THE REQUIREMENTS OF THIS PART 9,

15 AND THAT AN ADEQUATE PLAN EXISTS FOR CONTINUATION OF SERVICES, IF

16 REQUIRED, THE COURT SHALL ENTER AN ORDERDISSOL VING THE DISTRICT

17 PURSUANT TO SECTION 37-49-905.

18 (4) (a) IF THE COURT FINDS THE DISTRICT HAS FINANCIAL

19 OBLIGATIONS OR OUTSTANDING BONDS AND NO ESCROW PLAN, THE COURT

20 SHALL DETERMINE WHETHER THE PLAN FOR DISSOLUTION, AS SUBMITTED,

21 ADEQUATELY PROVIDES FOR PAYMENT OF THE FINANCIAL OBLIGATIONS

22 AND OUTSTANDING BONDS OF THE DISTRICT.

23 (b) IF THE COURT DETERMINES THAT THE PLAN FOR DISSOLUTION

24 ADEQUATELY PROVIDES FOR THE PAYMENT OF THE FINANCIAL

25 OBLIGATIONS AND OUTSTANDING BONDS OF THE DISTRICT, THAT THE

26 PETITION FOR DISSOLUTION MEETS THE REQUIREMENTS OF THIS PART 9,

27 AND THAT AN ADEQUATE PLAN EXISTS FOR CONTINUANCE OF SERVICES, IF

-61.

SB04-232