County Treasurers and Public Trustees
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22-32-110. Board of education - specific powers.
(1) (x) To elect to have moneys belonging
to the school district withdrawn from the custody of the county treasurer and
paid over to the treasurer of the board in the manner provided by law;
22-40-102. Certification - tax revenues.
(6) Each school district, with such
assistance as may be required from the department of education, shall inform the
county treasurer for each county within the district's boundaries no later than
December 15 of each year of said district's general fund mill levy in the
absence of funds estimated to be received by said district pursuant to the
"Public School Finance Act of 1994", article 54 of this title, and the estimated
funds to be received for the general fund of the district from the state.
treasurer - accounts - warrants.
(1) (a) It is the duty of the county treasurer to keep separate accounts by
funds and subsidiary accounts for the bond redemption fund of each school
district in his or her county, and said funds and accounts shall be subject to
the warrants of said district. The tax revenues shall be credited to the proper
fund and account, together with any penalty interest collected thereon.
(b) Notwithstanding the provisions of paragraph (a) of
this subsection (1), upon receipt of a notice from the state treasurer issued
pursuant to section
(3), a county treasurer shall withhold from the school district named in the
notice and forward to the state treasurer the amount of tax revenues specified
in the notice that would otherwise be credited to the school district.
(1.2) For bonded indebtedness
issued after June 1, 2011, the valuation for assessment of taxable
property for the purposes of this section shall be the valuation for
assessment of taxable property in the district as it existed on the
December 10 prior to the date of issuance of the bonded indebtedness.
The county assessor to the board of county commissioners shall report
the valuation for assessment of taxable property in the district to the
district and the department of education on each December 10.
(2) If only a portion of a school district is
situate within the territorial limits of said county and the headquarters of
said school district are not located therein, the county treasurer shall
transfer, at the end of each month, all moneys which have accrued to the credit
of said district to the county treasurer of the county wherein the headquarters
of said school district is located. No warrant shall be drawn by a school
district situate in more than one county against its moneys except against those
moneys in the custody of the county treasurer of the county wherein the school
district headquarters is located.
(3) Except in the case of a school district which
has elected to withdraw its moneys, if a school district warrant is presented to
the county treasurer of a school district situate in his county and there are no
moneys or insufficient moneys to the credit of said school district in the
proper fund or account thereof to pay such warrant, it is the duty of said
county treasurer to register such warrants in the order of presentment and
endorse each such warrant "no funds". Registered warrants shall draw interest
from the date of such registration and endorsement at the rate and in the manner
as registered county warrants. The county treasurer shall keep a list of all
warrants so registered and endorsed and furnish a copy of said list to the
treasurer of said school district. The county treasurer shall pay both the
principal and interest of said warrants, in the order of registration, when
there are sufficient moneys to the credit of the school district fund or account
upon which any such warrant was drawn. It is his duty to cause to be published
in a newspaper with general distribution in said school district for five days a
notice that certain school district warrants, describing said warrants by
numbers and amounts, will be paid upon presentation at the expiration of said
five days notice, at which time said warrants shall cease to bear interest.
(4) It is unlawful for a school district to issue
warrants in excess of the amount budgeted or appropriated to or the anticipated
revenues for any fund, whichever is less, for said school district's fiscal year
whether or not the board of education of said district has elected to withdraw
its moneys from the custody of the county treasurer.
(5) It is the duty of the county treasurer to
cancel all paid school district warrants with a proper cancelling stamp and
indicate the date of payment thereof.
22-42-118. Tax levy to
pay principal and interest.
(1) If any school district has issued bonds under the provisions of this
article, it is the duty of the board of county commissioners of the county in
which said district is situated, at the time of levying other school district
taxes, to levy a tax on all the taxable property of said district at a rate
sufficient to produce such amount as has been certified by the board of
education of said district, for the purpose of paying bonds not yet due, as
provided in section
(2) Except when said school district has sufficient moneys
or securities in a refunding escrow account to satisfy the bonded indebtedness
obligations which will be due and payable during said district's next ensuing
calendar year, if the board of education fails to certify such an amount to the
board of county commissioners as required by section
the board of county commissioners, nevertheless, shall levy upon the appropriate
taxable property of said district a tax in addition to the taxes levied for
other purposes, in an amount sufficient to pay all installments of principal and
interest of said bonds that shall become due during the next ensuing calendar
year, or, if said bonds do not become due and payable in series at different
times, in an amount sufficient to pay all installments of interest then to
become due and the aforesaid portion of principal.
(3) The amount certified pursuant to section
and the rate of the tax levy required by this section shall be sufficient to
cover any deficiency which may occur by reason of delinquent payment of taxes.
(4) The county treasurer shall not collect any fee on the
moneys received by virtue of a tax levied pursuant to this section, nor shall he
collect any fee on any moneys received from any other source to pay bonds or
interest thereon. The county treasurer may collect a fee, as provided in section
(1) (q), C.R.S., for services rendered by virtue of his office having been
designated as the place of payment or optional place of payment for bonds issued
under this article or under article 43 of this title, but this fee shall be
collected only when the county treasurer has a financial institution perform
such services regarding the bonds, and such fee shall be in an amount equal to
the fee charged the county treasurer by the financial institution.
22-42-119. Bond fund -
payment and redemption.
(1) Such taxes shall be collected in the same manner as other school district
taxes and when collected shall be placed by the county treasurer in the bond
redemption fund of said school district. The moneys in said fund shall be used
only for payment of interest upon and for the redemption of such bonds, upon
orders signed and countersigned in the manner provided by law for the execution
of other school district orders; but the board of education of said school
district may withdraw, or the board of education may instruct the third-party
custodian administering the bond redemption fund pursuant to section
(1) (b) (V) to withdraw, any or all of such moneys credited to said fund which
are temporarily not needed to satisfy the obligations of bonded indebtedness,
for the purpose of depositing or investing such moneys in the manner prescribed
(2) Redemption of said bonds prior to the
respective maturities thereof may be made in the order as determined by the
board in the resolution authorizing the issuance of said bonds and set forth on
the face of said bonds. Notice of the redemption of said bonds, prior to
maturity, shall be made in the manner prescribed in said bond resolution. In the
absence of such prescribed manner in the bond resolution, a redemption prior to
maturity shall be made in the following manner: When authorized by the board of
education, the treasurer of said school district shall advertise in some
newspaper published in the school district once a week for two consecutive weeks
that on a certain day, named in said advertisement, not less than four weeks
after the time of the first publication thereof, he will redeem certain of said
bonds therein described by number, amount, and date of issue thereof and that
the principal, interest to redemption date, and redemption premium, if any, of
said bonds will be paid in accordance with the bond resolution authorizing such
bonds. The notice shall indicate also that, after the day so fixed for
redemption, the interest on the bonds shall cease. After the day of redemption
so fixed in said notice, the bonds so advertised and called to be redeemed shall
cease to draw interest.
(3) If the bonds are made payable at the office
of the county treasurer, any redemption of such bonds shall also be made at the
office of the county treasurer of the county, who shall make a notation of such
payment or redemption upon his books.
(4) If the bonds are made payable at some place
other than the office of the county treasurer, such bonds shall be redeemable at
the place where payable, and the treasurer of the district shall, immediately
after the payment or redemption, inform the county treasurer that certain bonds,
describing them by number, amount, and date of issue, have been paid or redeemed
and cancelled, and said county treasurer shall make a record of such payment or
redemption upon his books.
(5) In all cases bonds when paid or redeemed
shall be cancelled by the district treasurer and preserved by him and his
successors for a period of one year after the date of their payment or
22-42-120. Place of
(1) The board of education of a school district is authorized to designate the
office of the county treasurer of the county in which the headquarters of such
school district is situated as the place of payment or optional place of payment
of the principal of or interest on any bonds issued by any such school district,
or to designate any commercial bank or trust company as the place of payment or
optional place of payment of the principal of or interest on any bonds issued by
any such school district, and the commercial bank or trust company so designated
may be located either within or without this state.
(2) It is the duty of the board of education of said
school district to cause sufficient moneys from said tax levy or refunding
escrow account to be placed from time to time at the place of payment, or
optional place of payment, designated on said bonds in an amount to satisfy the
principal and interest obligations of said bonds as the same may become due and
payable from time to time. It is the duty of the treasurer of said school
district to pay, or instruct the third-party custodian administering the school
district's bond redemption fund pursuant to section
(1) (b) (V) to pay, the obligations of said bonds as the same may become due and
payable, upon presentation of the bonds and coupons respectively evidencing such
obligations, from any moneys to the credit of the appropriate account available
for that purpose.
22-45-108. Report of
(1) The county treasurer shall, no later than the tenth day of each month,
render a monthly itemized statement of account, on a form prescribed by the
state board of education, to each school district in his county, and to each
joint school district if the headquarters thereof are located in his county, in
cases where the board of education of such school district or joint school
district has elected, pursuant to law, to have school district moneys received
by the county treasurer paid over to the treasurer of the district.
No fees shall be charged by the county treasurers of the state for receiving or
crediting funds of the school districts received under the provisions of this
Tax Levies and Revenues
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