C.R.S. Section 22-30-127
New school district

  • bonded indebtedness

(1)

Any new school district organized under the provisions of this article has the power and authority to contract bonded indebtedness in the same manner and under the same procedure for the issuance of bonds as is provided by law for the issuance of such bonds by other school districts.

(2)

Any new school district has the power to issue refunding bonds for the purpose of refunding outstanding indebtedness of said new school district in the same manner and procedure as is provided by law for the issuance of such bonds by other school districts.

(3)

Any new school district has the power to issue refunding bonds for the purpose of refunding outstanding indebtedness of old school districts, which old school districts have been reorganized or dissolved, and included within said new school district and which indebtedness has been assumed by said new school district pursuant to section 22-30-125. Such refunding bonds shall be issued in the same manner as if the indebtedness being refunded were indebtedness originally contracted by the new school district under the provisions of this article.

(4)

Any new school district has the power to issue refunding bonds for the purpose of refunding outstanding bonded indebtedness of old school districts, which old school districts have been reorganized or dissolved, and included within said new school district, and which indebtedness has not been assumed by the new school district, in the same manner as if the indebtedness being refunded were indebtedness originally contracted by the new school district under the provisions of this article, except for the following particulars:

(a)

Said bonds shall be designated as refunding bonds of the old school district which contracted the original indebtedness in the first instance. The refunding bonds shall be payable from the same funds which are to be derived from the same source as would have been used to pay the original bonds of the old school district if no refunding thereof had ever occurred.

(b)

The covenants and agreements in and relating to such refunding bonds shall be made and entered into by the new school district as successor to the old school district, and all necessary actions shall be taken by the board of education of the new school district as successor to the board of education of the old school district.

(5)

Whenever any old school district has been reorganized and parts thereof included within two or more new school districts, and whenever an old school district has been dissolved and parts thereof included in two or more other school districts, under the provisions of this article, and said old school district has outstanding bonded indebtedness, the refunding of such outstanding indebtedness of said former school district shall require affirmative action by a majority of the members of the boards of education of each new school district within which any part of the lands formerly included within said old school district are now included, except as is provided in this article to the contrary.

(6)

Any school district from which land has been detached and included within any other school district, by reorganization or any other lawful means, and which school district has retained its lawful corporate existence subsequent to the detachment of such land from said school district shall be specifically exempted from the requirements and provisions of subsection (5) of this section, and the board of education of said school district from which land has been detached may refund its bonds to which such detached land is subject with or without concurrence or action by the board of education of the school district within which said detached land is then included.

Source: Section 22-30-127 — New school district - bonded indebtedness, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-22.­pdf (accessed Oct. 20, 2023).

22‑30‑101
Short title 22‑30‑102
Legislative declaration 22‑30‑103
Definitions 22‑30‑104
Conduct of elections 22‑30‑105
Activation of the school district organization planning process 22‑30‑106
School organization planning committee 22‑30‑107
Duties of the committee 22‑30‑107.5
Duties of affected school districts 22‑30‑108
Vacancies 22‑30‑109
Meetings - notice 22‑30‑110
Names certified to commissioner 22‑30‑111
Compensation - expenses 22‑30‑112
Department consultants 22‑30‑113
Duties of the attorney general 22‑30‑114
Requirements for plan of organization 22‑30‑115
Hearing on a plan of organization 22‑30‑116
Approval of the plan and submission to the commissioner 22‑30‑117
Special school district organization election scheduled 22‑30‑118
Meeting to explain final approved plan 22‑30‑119
Certificate of return - map 22‑30‑120
New school district - powers 22‑30‑120.5
Effective date for purposes of school finance 22‑30‑121
Rejection of final approved plan 22‑30‑121.5
New school district - election concerning financial matters 22‑30‑122
Election of school directors in new school districts 22‑30‑123
Status of old school district - assets 22‑30‑124
Existing bonded indebtedness 22‑30‑125
Election on assuming the existing bonded indebtedness 22‑30‑125.5
Authorization of new bonded indebtedness or assumption of existing bonded indebtedness 22‑30‑126
Limit of bonded indebtedness - new school district 22‑30‑127
New school district - bonded indebtedness 22‑30‑128
Detachment and annexation of territory - exemptions from school district organization planning process 22‑30‑129
Dissolution and annexation - exemptions from the school district organization planning process 22‑30‑201
Joint taxation districts - authorized 22‑30‑202
Joint taxation board
Green check means up to date. Up to date

Current through Fall 2024

§ 22-30-127’s source at colorado​.gov