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 REQUIRED, THE COURT SHALL ENTER AN ORDER DISSOL VINO THE DISTRICT

2 PURSUANT TO SECTION 37-49-905.

3 (c) IF, AT ANY TIME AFTER THE FILING OF A PETITION FOR

4 DISSOLUTION UNDER SECTION 37-49-901, THE COURT DETERMINES THAT

5 NO AGREEMENT CAN BE REACHED CONCERNING THE PLAN FOR

6 DISSOLUTION UNDER SECTION 37-49-902 (4) (b) OR THAT ANY OTHER

7 REQUIREMENTS OF THIS PART 9 CANNOT BE MET, AND THAT THE BOARD

8 HAS ACTED IN GOOD FAITH, IT SHALL DISMISS THE DISSOLUTION

9 PROCEEDINGS.

10 37-49-905. Order of dissolution - conditions attached. (1) THE

11 ORDER OF DISSOLUTION SHALL:

12 (a) STATE THAT THERE ARE NO FINANCIAL OBLIGATIONS OR

13 OUTSTANDING BONDS OR THAT ANY SUCH FINANCIAL OBLIGATIONS OR

14 OUTSTANDING BONDS ARE ADEQUATELY SECURED BY ESCROW FUNDS OR

15 SECURITIES MEETING THE INVESTMENT REQUIREMENTS ESTABLISHED IN

16 PART 6 OF ARTICLE 75 OF TITLE 24, C.R.S.;

17 (b) IFTHEDISTRICTHASFINANCIALOBLIGATIONSOROUTSTANDING

18 BONDS, INCORPORATE THE APPLICABLE FINANCIAL PROVISIONS OF THE

19 FINDINGS OF THE COURT ACCEPTING THE PLAN FOR DISSOLUTION ENTERED

20 INTO PURSUANT TO SECTION 37-49-904 (4); AND

21 (c) INCORPORATE THE APPLICABLE SERVICE PROVISIONS OF THE

22 FINDINGS OF THE COURT ACCEPTING THE PLAN FOR DISSOLUTION ENTERED

23 INTO PURSUANT TO SECTION 37-49-904 (3) OR (4).

24 (2) (a) WHENEVER THE DISTRICT WILL CONTINUE IN EXISTENCE

25 PURSUANT TO THE PROVISIONS OF SECTION 37-49-902 (3) (c), THE COURT

26 MAY PROVIDE THAT ALL OR CERTAIN DIRECTORS OF THE BOARD OF THE

27 DISTRICT REMAIN IN OFFICE TO PERFORM DUTIES PURSUANT TO

-62-

SB04-232