BOARD01726

• Board Meeting Date: 3/22/2005
• Description: Current State Legislative Issues
• Board Meetings - Doc Type: Memo

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(4) MEETINGS OF THE BOARD SHALL BE PUBLIC. THE SECRETARY
SHALL TAKE AND PRESERVE PROPER MINUTES OF THE PROCEEDINGS OF THE
BOARD. THE MINUTES SHALL BE MADE AVAILABLE TO THE PUBLIC AS
REQUIRED BY THE COLORADO OPEN RECORDS LAW, ARTICLE 72 OF TITLE
24, C.R.S.
37-49-109. Property tax - procedure in establishing. (1) IN
ADDillON TO OTHER MEANS OF PROVIDING REVENUE FOR THE DISTRICT,
AND AFTER RECEIVING APPROVAL IN AN ELECTION CONDUCTED IN
ACCORDANCE WITH TillS ARTICLE, THE BOARD OF DIRECTORS HAS THE
POWER TO LEVY AND COLLECT AD VALOREM TAXES ON AND AGAINST ALL
TAXABLE PROPERTY WITIDN THE DISTRICT AND TO USE THE PROCEEDS FOR
ANY LAWFUL PURPOSE.
(2) IF THE DISTRICT LEVIES OR INTENDS TO LEVY AN AD VALOREM
TAX, THE DISTRICT SHALL FURNISH A MAP AND DESCRIPTION OF THE
TERRITORY WITIDN THE DISTRICT TO THE COUNTY ASSESSOR AND COUNTY
CLERK AND RECORDER OF EACH COUNTY THAT OVERLAPS THE DISTRICT.
(3) THE BOARD SHALL DETERMINE IN EACH YEAR THE AMOUNT OF
MONEY NECESSARY TO BE RAISED BY TAXATION, TAKING INTO
CONSIDERATION OTHER SOURCES OF REVENUE OF THE DISTRICT, AND
SHALL FIX A RATE OF LEVY THAT, WHEN LEVIED UPON EVERY DOLLAR OF
V ALUATION FOR ASSESSMENT OFT AXABLE PROPERTY WITIDN THE DISTRICT
AND TOGETHER WITH OTHER REVENUES, WILL RAISE THE AMOUNT
REQUIRED BY THE DISTRICT ANNUALLY TO SUPPLY FUNDS FOR PAYING
EXPENSES OF THE DISTRICT AND TO PAY IN FULL, PROMPTLY, AND WHEN
DUE, ALL INTEREST ON AND PRINCIPAL OF BONDS AND OTHER OBLIGATIONS
OF THE DISTRICT. IN THE EVENT OF ACCRUlNGDEFAULTS OR DEFICIENCIES,
AN ADDillONAL LEVY MAY BE MADE AS PROVIDED IN SUBSECTION (4) OF

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HBOS-1298