When any indebtedness has been incurred by a district, it is lawful for the board to levy taxes and collect revenue for the purpose of creating a reserve fund in such amount as the board may determine which may be used to meet the obligations of the district for operating charges and depreciation and to provide extensions of and betterments to the improvements of the district.
C.R.S. § 31-25-617
Reserve fund
Digitized from: Public.Law — Colorado Revised Statutes. Reproduced from public-domain Colorado statutes; confirm against the official source for the current text. Not legal advice.