Colorado Revised Statutes Title 32. Special Districts § 32-11-302. Levies to cover deficiencies

(1) The board, in certifying annual levies, shall take into account the maturing obligations for the ensuing year as provided in its contracts, maturing securities, and interest on securities, and deficiencies and defaults in prior years, and shall make ample provision for the payment thereof.

(2) In case the moneys produced from such levies, together with the revenues and any other moneys of the district, are not sufficient punctually to pay the annual installments of its contracts or securities and interest thereon, and to pay defaults and deficiencies, the board shall make such additional levies of taxes as may be necessary for such purposes, and notwithstanding any limitations, except the limitations in section 32-11-217(1)(d), such taxes shall be made and continue to be levied until the obligations of the district payable from taxes are fully paid.