Colo. Rev. Stat. § 30-20-527
Any district organized pursuant to this part 5 may be dissolved after notice given and a hearing held in the manner prescribed by sections 30-20-507 and 30-20-508. After hearing any protests against, or objections to, dissolution, if the board determines that it is in the best interests of all concerned to dissolve the district, it shall so provide by resolution, a certified copy of which shall be filed in the office of the county clerk and recorder in the county in which the district is located. Upon such filing, the dissolution shall be complete. However, no district shall be dissolved until it has satisfied or paid in full all of its outstanding indebtedness, obligations, and liabilities, or until funds are on deposit and available therefor.
C.R.S. § 30-20-527
This section was originally numbered as § 30-20-526 in C.R.S. 1973 but was renumbered on revision in the 1977 replacement volume for ease of location.