C.R.S. Section 32-9-148
Issuance of interim notes


(1)

Whenever a proposal to issue bonds for any purpose authorized in this article has been approved at an election held in accordance with this article, the district may borrow money without any other election in anticipation of sales taxes or of the receipt of the proceeds of said bonds and to issue interim notes to evidence the amount so borrowed; except that the aggregate amount of the interim notes may not exceed the amount so authorized by the election. Any interim notes may mature at such time not exceeding a period of time equal to the estimated time needed to effect the purposes for which the bonds are authorized to be issued, plus two years, as the board may determine. Except as otherwise provided in this section, interim notes shall be issued as provided in this article for district securities.

(2)

Sales taxes, proceeds of bonds to be thereafter issued or reissued, and bonds issued for the purpose of securing the payment of interim notes, or any combination thereof, may be pledged for the purpose of securing the payment of the interim notes. Any bonds pledged as collateral security for the payment of any interim notes shall mature at such time as the board may determine, but in no event exceeding forty years from the date of either any of such bonds or any of such interim notes, whichever date is the earlier. Any such bonds pledged as collateral security shall not be issued in an aggregate principal amount exceeding the aggregate principal amount of the interim notes or interim notes secured by a pledge of such bonds, nor shall they bear interest at any time which, with any interest accruing at the same time on the interim notes so secured, exceeds the maximum net effective interest rate authorized.

(3)

For the purpose of funding any interim notes, any bonds pledged as collateral security to secure the payment of such interim notes, upon their surrender as pledged property, may be reissued without an election, and any bonds not previously issued but authorized to be issued at an election may be issued for such a funding. Any such bonds shall mature at such time as the board may determine, but in no event exceeding forty years from the date of either any of the interim notes so funded or any of the bonds so pledged as collateral security, whichever date is earlier. Bonds may be issued separately or issued in combination in one series or more. Except as otherwise provided in this section any such funding bonds shall be issued as is provided in this article for district securities.

(4)

No interim note issued pursuant to the provisions of this section shall be extended or funded except by the issuance or reissuance of a bond in compliance with the provisions of this section.

Source: Section 32-9-148 — Issuance of interim notes, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-32.­pdf (accessed Oct. 20, 2023).

32‑9‑101
Short title
32‑9‑102
Legislative declaration
32‑9‑103
Definitions
32‑9‑104
Liberal construction
32‑9‑105
Creation of district
32‑9‑106.1
District area
32‑9‑106.6
Additional district areas as a result of annexation
32‑9‑106.7
Additional district area - petition or election - required filings - definitions
32‑9‑106.8
Additional district areas - annexation of unincorporated territory that is entirely surrounded by the district
32‑9‑106.9
District area - town of Castle Rock in Douglas county
32‑9‑107
Mass transportation system
32‑9‑107.5
Regional fixed guideway mass transit system - authorization
32‑9‑107.7
Regional fixed guideway mass transit systems - construction - authorization
32‑9‑109.5
Board of directors - membership - powers
32‑9‑111
Election of directors - dates - terms
32‑9‑112
Vacancies - appointments - recall
32‑9‑113
Fidelity bonds
32‑9‑114
Board’s administrative powers
32‑9‑115
Records of board - audits
32‑9‑116
Meetings of board
32‑9‑117
Compensation of directors
32‑9‑118
Conflicts in interest prohibited
32‑9‑119
Additional powers of district
32‑9‑119.1
Transportation expansion plan - utility relocation - legislative declaration - definitions
32‑9‑119.3
Elections for sales tax rate increase
32‑9‑119.4
Election for a sales tax rate increase - petition requirement
32‑9‑119.5
Competition to provide vehicular service within the regional transportation district - definition
32‑9‑119.7
Cost efficiency of transit services - reporting - plans
32‑9‑119.8
Provision of retail and commercial goods and services at district transfer facilities - residential and other uses at district transfer facilities permitted - definitions
32‑9‑119.9
Limited authority to charge fees for parking - reserved parking spaces - penalties - definitions
32‑9‑120
Levy of taxes - limitations
32‑9‑121
Levies to cover deficiencies
32‑9‑122
Levying and collecting taxes - lien
32‑9‑123
Delinquent taxes
32‑9‑123.5
Prohibition on borrowing by district
32‑9‑124
Forms of borrowing
32‑9‑125
Issuance of notes
32‑9‑126
Issuance of warrants
32‑9‑127
Maturities of notes and warrants
32‑9‑128
Incurrence of special obligations
32‑9‑128.5
Private activity and exempt facility bonds
32‑9‑129
Issuance of temporary bonds
32‑9‑130
Issuance of interim notes
32‑9‑131
Pledge of proceeds of sales taxes and revenues
32‑9‑132
Ranking among different issues
32‑9‑133
Ranking in same issue
32‑9‑134
Payment recital in securities
32‑9‑135
Incontestable recital in securities
32‑9‑136
Limitation upon payment
32‑9‑137
Security details
32‑9‑138
Negotiability
32‑9‑139
Single bonds
32‑9‑140
Sale of securities
32‑9‑141
Application of proceeds
32‑9‑142
Use of unexpended proceeds
32‑9‑143
Covenants in security proceedings
32‑9‑144
Remedies of security holders
32‑9‑145
Limitations upon liabilities
32‑9‑146
Interest after maturity
32‑9‑147
Refunding bonds
32‑9‑148
Issuance of interim notes
32‑9‑149
Elections
32‑9‑150
Election resolution
32‑9‑151
Conduct and costs of elections
32‑9‑156
District - tax exempted
32‑9‑158
Merger, consolidation, or assumption of district
32‑9‑159
Freedom from judicial process
32‑9‑160
Misdemeanors
32‑9‑161
Eminent domain
32‑9‑162
Money management
32‑9‑163
Investment management
32‑9‑164
Custodians
Green check means up to date. Up to date

Current through Fall 2024

§ 32-9-148’s source at colorado​.gov