C.R.S. Section 31-25-620
Board can issue bonds

  • form

(1)

To carry out the purposes of this part 6, the board is hereby authorized pursuant to a duly adopted ordinance to issue bonds of the district. Such bonds shall bear interest at a rate such that the net effective interest rate of the issue of bonds does not exceed the maximum net effective interest rate authorized, payable at such times as determined by the board, and shall be due and payable in installments at such times as determined by the board extending not more than twenty years from date of issuance. The form and terms of said bonds, including provisions for their sale, payment, and redemption, shall be determined by the board. To the extent required by section 20 of article X of the Colorado constitution, such bonds shall not be issued unless first approved at an election held for that purpose in accordance with articles 1 to 13 of title 1, C.R.S., or article 10 of this title. If the board so determines, such bonds may be redeemable prior to maturity, with or without payment of a premium, but no premium shall exceed three percent of the principal thereof. The bonds shall be executed in the name of and on behalf of the district and signed by the presiding officer of the board with the seal of the district affixed thereto and attested by the secretary of the board. Such bonds shall be in such denominations as the board shall determine. Interest coupons, if any, shall bear the original or facsimile signature of the presiding officer of the board. Under no circumstances shall any of said bonds be held to be an indebtedness, obligation, or liability of the municipalities or counties in which the district is located, and bonds issued pursuant to the provisions of this part 6 shall contain a statement to that effect.

(2)

Intentionally left blank —Ed.

(a)

As used in this part 6, “net effective interest rate” means the net interest cost of securities divided by the sum of the products derived by multiplying the principal amount of the securities maturing on each maturity date by the number of years from their date to their respective maturities. In all cases, net effective interest rate shall be computed without regard to any option of redemption prior to the designated maturity dates of the securities.

(b)

For the purpose of determining the net effective interest rate, “net interest cost” means the total amount of interest to accrue on securities from their date to their respective maturities, less the amount of any premium above par, or plus the amount of any discount below par, at which said bonds are being or have been sold. In all cases net interest cost shall be computed without regard to any option of redemption prior to the designated maturity dates of the securities.

Source: Section 31-25-620 — Board can issue bonds - form, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-31.­pdf (accessed Oct. 20, 2023).

31‑25‑101
Short title 31‑25‑102
Legislative declaration 31‑25‑103
Definitions 31‑25‑104
Urban renewal authority 31‑25‑105
Powers of an authority 31‑25‑105.5
Acquisition of private property by eminent domain by authority for subsequent transfer to private party - restrictions - exceptions - right of civil action - damages - definitions 31‑25‑105.7
Condemnation actions by authorities - effect of other provisions 31‑25‑106
Disposal of property in urban renewal area 31‑25‑107
Approval of urban renewal plans by local governing body - definitions 31‑25‑108
Disaster areas 31‑25‑109
Issuance of bonds by an authority 31‑25‑110
Property of an authority exempt from taxes and from levy and sale by virtue of an execution 31‑25‑111
Title of purchaser, lessee, or transferee 31‑25‑112
Cooperation by public bodies with urban renewal authorities 31‑25‑112.5
Inclusion of unincorporated territory in urban renewal area 31‑25‑113
Authorities to have no power of taxation 31‑25‑114
Cumulative clause 31‑25‑115
Transfer - abolishment 31‑25‑116
Regional tourism projects 31‑25‑201
Cities may establish parks - recreational facilities - conservation easements 31‑25‑202
Acquisition by purchase 31‑25‑203
Acquisition by purchase - petition of electors - bonds - park bonds 31‑25‑204
Acquisition by condemnation 31‑25‑205
Bequests for park purposes 31‑25‑206
Park commissioners - vacancies 31‑25‑207
Members serve without compensation - no interest in contracts 31‑25‑208
Meetings - quorum 31‑25‑209
Secretary - salary - duties 31‑25‑210
Office of commission - supplies 31‑25‑211
Superintendent of parks - assistants - salaries 31‑25‑212
Expenditures for park purposes 31‑25‑213
Fiscal year - annual report 31‑25‑214
Park fund - certified vouchers 31‑25‑215
Maximum tax levy - moneys credited 31‑25‑216
Cities control park grounds outside limits 31‑25‑217
Management - licenses - franchises 31‑25‑218
Conservation trust fund authorized 31‑25‑301
Town may establish parks - recreation facilities - conservation easements 31‑25‑302
Questions submitted to registered electors 31‑25‑303
Town may improve parks 31‑25‑304
Conservation trust fund authorized 31‑25‑401
Short title 31‑25‑402
Legislative declaration - powers 31‑25‑403
Definitions 31‑25‑404
Resolution of intention 31‑25‑405
Notice and hearing 31‑25‑406
Claims for damages or compensation 31‑25‑407
Establishment of the mall 31‑25‑408
Improvement of the pedestrian mall 31‑25‑409
Special ad valorem assessments 31‑25‑500.2
Legislative declaration - energy efficiency and renewable energy production projects 31‑25‑501
Definitions 31‑25‑502
Powers to make local improvements 31‑25‑503
What improvements may be made - conditions 31‑25‑504
Municipality may establish sewer systems 31‑25‑505
District sanitary sewers - contracts - contiguous towns 31‑25‑506
Private sewers - connection 31‑25‑507
Determination of special benefits - factors considered 31‑25‑508
Storm drainage sewers - districts 31‑25‑509
Subdistricts in sewer districts 31‑25‑510
Improvements may be constructed under other laws 31‑25‑511
Property of irregular form - assessment 31‑25‑512
Cost assessed in proportion to area 31‑25‑513
Cost assessed in accordance with benefits 31‑25‑514
Streets - railway companies subject to tax 31‑25‑515
Utility connections may be ordered before paving - costs - default 31‑25‑516
Contracts for construction - bond - default 31‑25‑517
Sidewalks - water mains - sewers 31‑25‑518
Provisions to be inserted 31‑25‑519
Statement of expenses - apportionment 31‑25‑520
Notice of hearing on assessments 31‑25‑521
Hearing on objections 31‑25‑522
Assessment of lien - filing with county clerk and recorder - corrections 31‑25‑523
Assessment roll 31‑25‑524
Payment - assessment roll returned 31‑25‑525
Owner of interest may pay share 31‑25‑526
Collection of assessment payments - by municipal treasurer - by county treasurer 31‑25‑527
When assessments payable - installments 31‑25‑528
How installments paid - interest 31‑25‑529
Effect of payment in installments 31‑25‑530
Penalty for default - payment of balance 31‑25‑531
Sale of property for nonpayment 31‑25‑532
Municipality may purchase property on default 31‑25‑533
Power of governing body to contract debt - question submitted to registered electors 31‑25‑534
Issuing bonds - property specially benefited 31‑25‑534.5
Issuing refunding bonds 31‑25‑535
Bonds negotiable - interest 31‑25‑537
When mandamus will issue 31‑25‑538
No action maintainable - exception - grounds - limitations 31‑25‑539
Effect of court order 31‑25‑540
Figures instead of words - when general description used 31‑25‑541
Interim warrants 31‑25‑542
County treasurer - policies and procedures 31‑25‑601
Legislative declaration 31‑25‑602
Definitions 31‑25‑603
Authority of governing body 31‑25‑604
Organization petition - contents 31‑25‑605
Bond of petitioners 31‑25‑606
Notice of hearing 31‑25‑607
Hearing - dismissal - findings - declaration - when action barred 31‑25‑608
Recording of ordinance 31‑25‑609
Governing body constitutes board - duties 31‑25‑610
Meetings 31‑25‑611
General powers of district 31‑25‑611.5
Special improvement districts - authority to establish 31‑25‑612
Power to levy taxes 31‑25‑613
Determining and fixing rate of levy 31‑25‑614
Levies to cover deficiencies 31‑25‑615
County officers to levy and collect taxes - lien 31‑25‑616
Property sold for taxes 31‑25‑617
Reserve fund 31‑25‑618
Inclusion or exclusion - petition - notice - hearing - order 31‑25‑619
Liability of property 31‑25‑620
Board can issue bonds - form 31‑25‑625
Procedure 31‑25‑626
Correction of faulty notices 31‑25‑627
Early hearings 31‑25‑628
Construction 31‑25‑629
Municipal jurisdiction unimpaired 31‑25‑630
Method not exclusive 31‑25‑631
Confirmation of board actions and powers 31‑25‑632
Exemption from taxation - securities laws 31‑25‑633
Limitation of actions 31‑25‑701
Definitions 31‑25‑702
Power to establish cemeteries 31‑25‑703
Foreclosure proceedings 31‑25‑704
Hearing and decree 31‑25‑705
Fees and costs 31‑25‑706
Used burial space proviso 31‑25‑707
Joint proceedings 31‑25‑708
Abandoned burial sites - right to reclaim 31‑25‑801
Legislative declaration 31‑25‑802
Definitions 31‑25‑803
Powers of governing body 31‑25‑804
Organizational procedure - election 31‑25‑805
Board - membership - term of office 31‑25‑806
Board membership - qualifications - nominations - rules - removal 31‑25‑807
Powers - duties 31‑25‑808
Additional and supplemental powers 31‑25‑809
Authorization of bonds 31‑25‑810
Bond provisions 31‑25‑811
Refunding bonds 31‑25‑812
Tax exemption 31‑25‑813
No municipal liability on bonds 31‑25‑813.5
Limitation of actions 31‑25‑814
Remedies of bondholders 31‑25‑815
Employees - duties - compensation 31‑25‑816
Funding - budget 31‑25‑817
Ad valorem tax 31‑25‑818
Assessments 31‑25‑819
Conflict of interest 31‑25‑820
Construction 31‑25‑821
Property subject to debt 31‑25‑822
Inclusion of additional property 31‑25‑901
Legislative declaration 31‑25‑902
Duties of authority - development and financing of unconventional gas supplies 31‑25‑903
Formation of authority by municipality 31‑25‑904
Board - membership - term of office 31‑25‑905
Board membership - qualifications - nominations - rules - removal 31‑25‑906
Powers - duties of board 31‑25‑907
Powers of authority to effect purposes specified 31‑25‑908
Provisions relating to revenue bonds 31‑25‑909
Contracts with federal government 31‑25‑1101
Legislative declaration 31‑25‑1102
Definitions 31‑25‑1103
Property in default 31‑25‑1104
Action in rem - lien against property 31‑25‑1105
Form of notice of hearing to authorize sale 31‑25‑1106
Publication of notice - copy mailed 31‑25‑1107
Objections 31‑25‑1108
Procedure in court 31‑25‑1109
Court to direct sale of property 31‑25‑1110
Notice of sale 31‑25‑1111
Liens may be paid prior to sale 31‑25‑1112
Sale - certificate of purchase - filing 31‑25‑1113
Bonds applied to purchase price 31‑25‑1114
Treasurer may reject bids 31‑25‑1115
Property redeemable within three years - certificate 31‑25‑1116
Treasurer may issue deed - form 31‑25‑1117
Effect of deed 31‑25‑1118
Procedure not mandatory 31‑25‑1119
Fifteen-year limitation 31‑25‑1201
Short title 31‑25‑1202
Legislative declaration 31‑25‑1203
Definitions 31‑25‑1204
Authority of governing body 31‑25‑1205
Organizational procedure 31‑25‑1206
Notice of hearing 31‑25‑1207
Hearing - findings - when action barred 31‑25‑1208
Boundaries - exclusion proviso 31‑25‑1209
Board of directors - duties 31‑25‑1210
Meetings 31‑25‑1211
Approval of actions by municipality 31‑25‑1212
General powers of district 31‑25‑1212.5
Improvements - railroad quiet zones 31‑25‑1213
Power to levy taxes 31‑25‑1214
Determining and fixing rate of levy 31‑25‑1215
Levies to cover deficiencies 31‑25‑1216
County officers to levy and collect taxes - lien 31‑25‑1217
Property sold for taxes 31‑25‑1218
Reserve fund 31‑25‑1219
Special assessments 31‑25‑1220
Inclusion or exclusion - petition - notice - hearing 31‑25‑1221
Board can issue bonds - form 31‑25‑1222
Submission of debt question 31‑25‑1223
Effect - subsequent elections 31‑25‑1224
Confirmation of contract proceedings 31‑25‑1225
Dissolution procedure 31‑25‑1226
Correction of faulty notices 31‑25‑1227
Department of transportation and municipal jurisdiction unimpaired 31‑25‑1228
Method not exclusive 31‑25‑1301
Short title 31‑25‑1302
Legislative declaration 31‑25‑1303
Definitions 31‑25‑1304
Integrated project delivery contracts - authorization - effect of other laws 31‑25‑1305
Integrated project delivery contracting process - prequalification of participating entities - apprentice training 31‑25‑1306
Requests for proposals - evaluation and award of integrated project delivery contracts 31‑25‑1307
Supplemental provisions
Green check means up to date. Up to date

Current through Fall 2024

§ 31-25-620’s source at colorado​.gov