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