2020 Colorado Revised Statutes
Title 29 - Government - Local
Article 15. Tax Anticipation Note Act
Section 29-15-107. Payment of tax anticipation notes.
All ad valorem taxes on real and personal property, investment, proceeds on the ad valorem taxes, or the proceeds from tax anticipation notes received by the public body after the issuance of the tax anticipation notes, except taxes collected for retirement of existing debt, shall be paid into a special fund to be known as the tax anticipation note principal and interest redemption fund until such time as the moneys in such fund are sufficient to pay when due the principal of and the premiums, if any, and interest on the tax anticipation notes. All moneys in such fund not in excess of the amount required for such purpose shall be used to pay the principal of and the premiums, if any, and interest on the tax anticipation notes and shall be used for no other purpose.
Source: L. 85: Entire article added, p. 1055, § 1, effective June 6.
