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<br />. 1 (4) MEETINGS OF TIlE BOARD SHALL BE PUBLIC. THE SECRETARY <br /> 2 SHALL TAKE AND PRESERVE PROPER MINUTES OF TIlE PROCEEDINGS OF TIlE <br /> 3 BOARD. THE MINUTES SHALL BE MADE AVAILABLE TO THE PUBLIC AS <br /> 4 REQUIRED BY TIIE COLORADO OPEN RECORDS LAW, ARTICLE 72 OF TITLE <br /> 5 24, C.R.S. <br /> 6 37-49-109. Property tax - procedure in establishing. (1) IN <br /> 7 ADDITION TO OTIlER MEANS OF PROVIDING REVENUE FOR TIlE DISTRICT, <br /> 8 AND AFTER RECENING APPROVAL IN AN ELECTION CONDUCTED IN <br /> 9 ACCORDANCE WITH THIS ARTICLE, TIIE BOARD OF DIRECTORS HAS TIIE <br /> 10 POWER TO LEVY AND COLLECT AD VALOREM TAXES ON AND AGAINST ALL <br /> 11 TAXABLE PROPERTY WITIlIN TIIE DISTRICT AND TO USE TIlE PROCEEDS FOR <br /> 12 ANY LAWFUL PURPOSE. <br /> 13 (2) IF TIlE DISTRICT LEVIES OR INTENDS TO LEVY AN AD VALOREM <br />. 14 TAX, THE DISTRICT SHALL FURNISH A MAP AND DESCRIPTION OF THE <br /> 15 TERRITORY WITHlN TIlE DISTRICT TO TIlE COUNTY ASSESSOR AND COUNTY <br /> 16 CLERK AND RECORDER OF EACH COUNTY TIlAT OVERLAPS TIIE DISTRICT. <br /> 17 (3) THE BOARD SHALL DETERMINE IN EACH YEAR TIlE AMOUNT OF <br /> 18 MONEY NECESSARY TO BE RAISED BY TAXATION, TAKING INTO <br /> 19 CONSIDERATION OTIlER SOURCES OF REVENUE OF TIlE DISTRICT, AND <br /> 20 SHALL FIX A RATE OF LEVYTIlAT, WHEN LEVIED UPON EVERY DOLLAR OF <br /> 21 V ALUATION FOR ASSESSMENT OF T AXABLEPROPERTY WITIIlNTIIEDISTRICT <br /> 22 AND TOGETHER WITH OTHER REVENUES, WILL RAISE TIIE AMOUNT <br /> 23 REQUIRED BY TIlE DISTRICT ANNUALLY TO SUPPLY FUNDS FOR PAYING <br /> 24 EXPENSES OF THE DISTRICT AND TO PAY IN FULL, PROMPTLY, AND WHEN <br /> 25 DUE, ALL INTEREST ON AND PRINCIPAL OF BONDS AND OTIlER OBLIGATIONS <br /> 26 OF THE DISTRICT. IN THE EVENT OF ACCRUING DEFAULTS OR DEFICIENCIES, <br />. 27 AN ADDITIONAL LEVY MAYBE MADE AS PROVIDED IN SUBSECTION (4) OF <br /> <br />-19- <br /> <br />HB05-1298 <br />