(1) The district has no power of taxation or right to levy or assess taxes, except
an annual levy, not exceeding six-tenths of a mill on each dollar of the valuation
for assessment of property in said district, as provided in section 37-47-109. The district has no power to contract or incur any obligation or indebtedness except
as expressly provided in this article, and then any obligation or indebtedness so
contracted or incurred is to be payable out of the funds derived through said limited
tax and not otherwise; except that said district for and in behalf of any subdistrict
or improvement district created under this article has the right to issue obligations
as expressly authorized in this article and not otherwise.
(2) All assessments under this article shall be collected by the county treasurer
of the respective counties in which said real estate is situated at the same time
and in the same manner as is provided by law for the collection of taxes for county
and state purposes, and, if said assessments are not paid, then the real estate shall
be sold at the regular tax sale for the payment of said assessments, interest, and
penalties in the manner provided by the statutes of the state of Colorado for selling
property for the payment of general taxes. If there are no bids at said tax sale for the property so offered, said property
shall be struck off to the district, and the tax certificates shall be issued in the
name of the district, and the board of directors has the same power with reference
to the sale of said tax certificates as is now vested in county commissioners and
county treasurers when property is struck off to the counties.
(3) Tax deeds may be issued, based upon said certificates of sale, in the same manner
that deeds are executed on tax sales on general state and county taxes.
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