C.R.S. Section 23-71-603
Question of issuing refunding bonds


(1)

When the board of trustees of any district deems it expedient to issue refunding bonds under the provisions of this part 6 and the net effective interest rate and the net interest cost of said issue of refunding bonds do not exceed the net effective interest rate and the net interest cost of the outstanding bonds to be refunded, such refunding bonds may be issued without the submission of the question of issuing the same at an election held in accordance with part 5 of this article. If two or more issues of outstanding bonds of a district are to be refunded by the issuance of a single issue of refunding bonds, as provided in section 23-71-602 (5), the net interest cost and net effective interest rate on the bonds to be refunded shall be computed as if all of said bonds had originally been combined as a single issue aggregating the total of the smaller issues, and the results of this computation shall be compared with the net interest cost and net effective interest rate on the whole of the single refunding issue for purposes of determining the necessity of submitting the question of issuing such refunding bonds at an election held in accordance with part 5 of this article.

(2)

If any district proposes to issue refunding bonds, on which issue the net interest cost or net effective interest rate exceeds the net interest cost or net effective interest rate of the outstanding bonds to be refunded, the board of trustees shall submit the question of issuing such refunding bonds and the maximum net interest cost and maximum net effective interest rate at which such refunding bonds may be issued at the regular biennial election or at a special election called for that purpose. Any such election shall be called and held as nearly as may be in accordance with part 5 of this article for elections on the question of the issuance of other bonds of the issuing district.

Source: Section 23-71-603 — Question of issuing refunding bonds, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-23.­pdf (accessed Oct. 20, 2023).

23‑71‑101
Short title
23‑71‑102
Definitions
23‑71‑102.5
Local district college - local college district - change in terms - authority of revisor
23‑71‑103
Districts organized - when
23‑71‑104
Petition of electors
23‑71‑105
Election to organize
23‑71‑107
Qualifications of voters - conduct of elections
23‑71‑109
Record of votes
23‑71‑110
Election of board - members and terms
23‑71‑111
Election of first board - new district
23‑71‑114
Candidates for board of trustees
23‑71‑118
Officers
23‑71‑119
Regular meetings
23‑71‑120
District - body corporate
23‑71‑120.5
Recall of board members
23‑71‑121
Vacancies
23‑71‑122
Local college district board of trustees - specific powers - rules - definitions
23‑71‑123
Duties of board of trustees - degrees
23‑71‑124
President - duties
23‑71‑125
Secretary - duties
23‑71‑126
Treasurer - duties
23‑71‑127
Credits accepted by state institutions
23‑71‑128
Additions to district - procedure
23‑71‑129
Dissolution of district
23‑71‑130
Bonds as legal investments
23‑71‑131
Local district colleges subject to section 29-1-302
23‑71‑133
Local district colleges - attorney general to advise - revenue for baccalaureate degree programs
23‑71‑134
Local district colleges - bachelor of applied science degree programs - approval
23‑71‑135
Local district colleges - high school diplomas - approval
23‑71‑201
Definitions
23‑71‑202
Joining state system - state support
23‑71‑203
Submission of plan for joining state system
23‑71‑204
Approval of plan - election
23‑71‑205
Withdrawal from state system
23‑71‑206
Northeastern junior college - approval of plan - date of entry into state system - continuation of mill levy
23‑71‑207
Colorado Northwestern community college - approval of plan - date of entry into system - continuation of mill levy
23‑71‑208
Colorado Northwestern community college - disposal of assets
23‑71‑301
Direct grants to local college districts - occupational courses
23‑71‑302
Distribution of grants
23‑71‑303
Distributions to area technical colleges
23‑71‑304
Area technical college grant program - established - report - definitions - repeal
23‑71‑401
Definitions
23‑71‑402
Certification - tax revenues
23‑71‑403
Change in needed tax revenues - unlawful
23‑71‑404
County treasurer - accounts - warrants
23‑71‑405
Depositories
23‑71‑406
Registered warrants by treasurer of the board of trustees
23‑71‑407
Short-term loans
23‑71‑501
Definitions
23‑71‑502
Bonded indebtedness - elections
23‑71‑503
Limitations on elections
23‑71‑504
Limit of bonded indebtedness
23‑71‑514
Board of trustees may issue bonds - exemption from Colorado income tax
23‑71‑515
Form of bonds
23‑71‑516
Sale at less than par - discount
23‑71‑517
Board of trustees to certify needed revenues
23‑71‑518
Tax levy to pay principal and interest
23‑71‑519
Bond fund - payment and redemption
23‑71‑520
Place of payment
23‑71‑521
Registration of bonds
23‑71‑522
Changes in boundaries - liability
23‑71‑523
Validation
23‑71‑524
Prior obligations not impaired
23‑71‑525
Public disclosure of terms of sale
23‑71‑526
Validation
23‑71‑527
Validation - effect - limitations
23‑71‑601
Definitions
23‑71‑602
Refunding bonds may be issued
23‑71‑603
Question of issuing refunding bonds
23‑71‑604
Authorization - form - interest
23‑71‑605
Sale - proceeds - amounts
23‑71‑606
Needed revenues - tax levy - miscellaneous
23‑71‑607
Application of bond proceeds - procedures - limitations
23‑71‑608
Reports
23‑71‑609
Validation
23‑71‑610
Prior obligations not impaired
23‑71‑701
Short title
23‑71‑702
Definitions
23‑71‑703
Power to issue securities
23‑71‑704
Interim securities
23‑71‑705
Terms of securities
23‑71‑706
Payable from special fund
23‑71‑707
Recital of regularity
23‑71‑708
Committee determination conclusive
23‑71‑709
No impairment of contract
23‑71‑710
Tax exemption
23‑71‑711
Construction
23‑71‑712
Liberal construction
23‑71‑713
Validation
Green check means up to date. Up to date

Current through Fall 2024

§ 23-71-603’s source at colorado​.gov