C.R.S. Section 37-41-117
Bonds

  • contract
  • purposes
  • election

(1)

For the purpose of constructing or purchasing or acquiring necessary reservoir sites, reservoirs, water rights, canals, ditches, and works and of acquiring the necessary property and rights therefor; for the assumption of indebtedness to the United States or for entering into a contract with the United States or any agency thereof or water right owners for district lands; for the purpose of paying the first year’s interest upon the bonds authorized in this article; and for otherwise carrying out the provisions of this article, the board of directors of any such district, as soon after such district has been organized as may be practicable, shall estimate and determine the amount of money necessary to be raised for such purposes and shall forthwith call a special election, at which election shall be submitted to the electors of such district possessing the qualifications prescribed by this article the question of whether or not the bonds of said district shall be issued in the amount so determined and, if applicable, whether the contract shall be approved.

(2)

A notice of such election must be given by posting notices in three public places in each election precinct in said district for at least twenty days and also by publication of such notice in some newspaper published in the county where the office of the board of directors of such district is required to be kept, once a week for at least three successive weeks. Such notice shall specify the time of holding the election, the amount of bonds proposed to be issued, and, if applicable, the dollar amount of the contract to be entered into, and said election must be held and the result thereof determined and declared in all respects as nearly as possible in conformity with the provisions of this article governing the election of officers. No informalities in conducting such election shall invalidate the same if the election shall have been otherwise fairly conducted.

(3)

At such election the ballots shall contain the words, if applicable, “Bonds - Yes” or “Bonds - No” or, if applicable, “Contract - Yes” or “Contract - No”, or words equivalent thereto. If a majority of the legal electors who are freeholders and taxpayers or entrymen qualified as provided in this article within said district voting at said election have voted “Bonds - Yes” or “Contract - Yes”, the board of directors shall immediately cause bonds in such amount to be issued and payable in series with such rate of interest as may be required to market said bonds as irrigation district bonds or cause the contract to be executed by the president and the secretary of the district.

(4)

The principal and interest shall be payable at the office of the county treasurer of the county in which the organization of the district was effected and at such other place as the board of directors may designate in such bond. Said bonds shall be in denominations as may be determined by the board of directors and shall be negotiable in form, executed in the name of the district, and signed by the president and secretary, and the seal of the district shall be affixed thereto. Bonds deposited with the United States may call for the payment of such interest not exceeding the going rate for irrigation district bonds, may be of such denominations and may call for the repayment of the principal at such times as may be agreed upon between the district and the secretary of the interior, and, where the contract provides, may likewise call for the repayment of the principal at such times as may be agreed upon. Said bonds shall be numbered consecutively as issued and bear date at the time of their issue. Coupons for the interest shall be attached to each bond bearing the lithographed signatures of the president and secretary. Said bonds shall express on their faces that they are issued by the authority of this article, stating its title and date of approval.

(5)

The secretary shall keep a record of the bonds sold, their number, date of sale, the price received, and the name of the purchaser; but any such district, by a majority vote of the legal electors of said district voting at said election, may provide for the issuance of bonds that will mature in any number of years less than thirty and arrange for the payment thereof in series. When the money provided by any previous issue of bonds has become exhausted by expenditures authorized therefrom and it becomes necessary to raise additional money for such purposes, additional bonds may be issued by submitting the question at a special election to the qualified voters of said district and otherwise complying with the provisions of this section in respect to an original issue of such bonds. The lien for taxes, for the payment of the interest and principal of any bond issue, or for any indebtedness under any contract with the United States or any agency thereof or another financial institution shall be a prior lien to that of any subsequent bond issue or under subsequent contract.

(6)

If a contract is proposed to be made with the United States and bonds are not to be deposited with the United States in connection therewith, the question to be submitted to the voters at such special election is whether a contract shall be entered into with the United States or any agency thereof or any financial institution. The notice of election shall state the maximum amount of money payable to the United States for construction or other purposes, exclusive of penalties and interest, and the water rights and other property, if any, to be conveyed to the United States, any agency thereof, or another financial institution as provided in section 37-41-113. The ballots for such election shall contain the words “Contract with the United States or agency thereof or financial institution - Yes”, and “Contract with the United States or agency thereof or financial institution - No”, or words equivalent thereto.

Source: Section 37-41-117 — Bonds - contract - purposes - election, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-37.­pdf (accessed Oct. 20, 2023).

37‑41‑101
Irrigation district - organization - purposes 37‑41‑102
Petition 37‑41‑103
Presentation and allowance of petition 37‑41‑104
Notice of election - qualifications of electors 37‑41‑105
Canvass of votes - proclamation 37‑41‑106
Directors - election - term 37‑41‑107
Office of board - elections 37‑41‑108
Directors - secretary - salaries 37‑41‑109
District treasurer - duties 37‑41‑110
Duties of election officers 37‑41‑111
Canvass of votes 37‑41‑112
Records - vacancy and term of office 37‑41‑113
Board of directors - duties - contracts - rules 37‑41‑114
Meetings - duties - eminent domain 37‑41‑115
Property - title 37‑41‑116
Conveyances - suits 37‑41‑117
Bonds - contract - purposes - election 37‑41‑118
Sale of bonds - proceeds 37‑41‑119
Bonds - payment - lien 37‑41‑120
Fiscal year - directors to fix levy 37‑41‑121
Assessor - assessment 37‑41‑122
Other taxes must be paid 37‑41‑123
Special tax levy 37‑41‑124
Assessment - collection - redemption - deed 37‑41‑125
Construction - contracts 37‑41‑126
Claims - audit - payment - financial report 37‑41‑127
Funds for expenses 37‑41‑128
Crossing streams, highways, railroads, state lands 37‑41‑129
Limit of indebtedness - emergency 37‑41‑130
Insufficient supply - distribution 37‑41‑131
Compensation for property taken 37‑41‑132
Boundaries - change - effect 37‑41‑133
Additional land admitted - petition 37‑41‑134
Notice of filing - costs 37‑41‑135
Hearing of petition - assent 37‑41‑136
Payment of pro rata assessments 37‑41‑137
Inclusion or rejection of lands - protest 37‑41‑138
Order - record - effect 37‑41‑139
Records - evidence 37‑41‑140
Legal representatives petitioners 37‑41‑141
Redivision of district - election of officers 37‑41‑142
Lands may be excluded from district 37‑41‑143
Petition for exclusion 37‑41‑144
Notice of filing petition 37‑41‑145
Hearing of petition 37‑41‑146
Order 37‑41‑147
Record - effect 37‑41‑148
Division of districts 37‑41‑149
Dissolution of district - election 37‑41‑150
Canvass - record 37‑41‑151
Judicial examination of bonds and contracts 37‑41‑152
Petition for judicial examination 37‑41‑153
Notice of hearing 37‑41‑154
Answer - pleading 37‑41‑155
Determination - costs 37‑41‑156
Sale of realty not needed 37‑41‑157
President to execute deeds 37‑41‑158
Proceeds - where paid 37‑41‑159
Findings of board conclusive 37‑41‑160
Single election precincts
Green check means up to date. Up to date

Current through Fall 2024

§ 37-41-117’s source at colorado​.gov