C.R.S. Section 32-7-121
Power to incur indebtedness

  • interest
  • maturity
  • denominations

(1)

To carry out the purposes of this article, the board is authorized to issue general obligation negotiable coupon bonds of the service authority. Said bonds shall bear interest at a rate such that the net effective interest rate of the issue of said bonds does not exceed that maximum net effective interest rate authorized, and shall be due and payable serially, either annually or semiannually, commencing not later than three years and extending not more than thirty years from the date of issuance. The form and terms of said bonds, including provisions for their payment and redemption, shall be determined by the board. If the board so determines, said bonds may be redeemable prior to maturity with or without payment of a premium, not exceeding three percent of the principal thereof. In any event, said bonds shall be subject to call not later than fifteen years from date. Said bonds shall be executed in the name and on behalf of the service authority and signed by the chairman of the board with the seal of the service authority affixed thereto and attested by the secretary of the board. Said bonds shall be issued in such denominations as the board determines, and the bonds and coupons thereto attached shall be payable to bearer. Interest coupons shall bear the original or facsimile signature of the president of the board.

(2)

Bonds voted for different purposes by separate propositions submitted at the same or different bond elections may, at the discretion of the board, be combined and issued as a single issue of bonds so long as the security therefor is the same.

Source: Section 32-7-121 — Power to incur indebtedness - interest - maturity - denominations, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-32.­pdf (accessed Oct. 20, 2023).

32‑7‑101
Short title 32‑7‑102
Legislative declaration 32‑7‑103
Definitions 32‑7‑104
Territorial requirements for service authorities 32‑7‑105
Petition or resolution for formation - designation of services 32‑7‑106
Priority of petition or resolution 32‑7‑107
Court appoints an organizational commission and election committee 32‑7‑108
Service authority organizational commission 32‑7‑109
Election for formation, selection of services, and initial board of directors 32‑7‑110
Board of directors 32‑7‑111
Designation of services 32‑7‑112
Local authorization of functions, services, and facilities 32‑7‑113
General powers 32‑7‑114
Duties related to planning powers 32‑7‑115
Ancillary powers 32‑7‑116
Powers to be exercised without franchise - condition 32‑7‑117
Revenues of service authority - collection 32‑7‑118
Levy and collection of taxes 32‑7‑119
Levies to cover deficiencies 32‑7‑120
Power to issue revenue bonds - terms 32‑7‑121
Power to incur indebtedness - interest - maturity - denominations 32‑7‑122
Debt question submitted to electors - resolution 32‑7‑123
Effect - subsequent elections 32‑7‑124
Correction of faulty notices 32‑7‑125
Refunding bonds 32‑7‑126
Limitations upon issuance 32‑7‑127
Use of proceeds of refunding bonds 32‑7‑128
Combination of refunding and other bonds 32‑7‑129
Board’s determination final 32‑7‑130
Anticipation warrants 32‑7‑131
Inclusion - counties - municipality - existing service authority - procedures 32‑7‑132
Special taxing districts authorized 32‑7‑133
Formation of special taxing districts 32‑7‑134
Local improvement districts authorized 32‑7‑135
Procedures to establish local improvement districts 32‑7‑136
Special districts - transfer of responsibility 32‑7‑137
Special districts - formation within service authority territory forbidden 32‑7‑138
Transfer and assumption of services 32‑7‑139
Payments for facilities acquired by regional service authority - valuation 32‑7‑140
Public transportation 32‑7‑141
Sewage collection, treatment, and disposal 32‑7‑142
Urban drainage and flood control 32‑7‑143
Assumption of services by a service authority in the Denver metropolitan area 32‑7‑144
Dissolution 32‑7‑145
Early hearings 32‑7‑146
Elections
Green check means up to date. Up to date

Current through Fall 2024

§ 32-7-121’s source at colorado​.gov