C.R.S. Section 37-43-145
Board of directors to issue bonds

(1)

Whenever it is desired to issue refunding bonds under sections 37-43-144 to 37-43-151, the board of directors of the district, by resolution entered in the minutes of their proceedings, shall call a special election of the qualified voters of said district for the purpose of voting upon the issuance of such refunding bonds, or such question may be submitted at a general election of the district if the notice complies with the requirements set forth in this section. At any election held under sections 37-43-144 to 37-43-151, the question of refunding all or any part of the then outstanding indebtedness of an irrigation district may be submitted for determination, whether such indebtedness is due or not.

(2)

The notice of said election shall be published and posted for the same length of time and in the same manner, and the election shall be conducted the same as in the case of an election for an original issue of bonds. The notice shall specify the time and place of holding said election, the amount and date of the indebtedness sought to be taken up and paid, the amount and rate of interest of the refunding bonds proposed to be issued, and the dates when said refunding bonds will become due.

(3)

At such election the ballots shall contain the words “Refunding Bonds - Yes” and “Refunding Bonds - No”. The return shall be canvassed by the board of directors in the same manner as in the case of an original issue of bonds and a similar statement of the results of said election shall be entered in the records of said board and filed with the county clerk and recorder of the county in which the office of said district is located. If it is determined upon such canvass that a majority of the legally qualified electors of the district have voted “Refunding Bonds - Yes”, the board of directors shall cause bonds in such amount to be issued. Such bonds may mature serially, with or without an option to redeem the same prior to maturity, or they may have one maturity date, not exceeding fifty years from date, and be redeemable on and after a designated date not later than ten years from the date of said bonds.

(4)

If serial bonds are issued, the last series shall mature in not more than fifty years from the date of said bonds, and the first series shall become due not more than ten years from the date of said bonds, and the series shall be so arranged that some part of the principal of said bonds, never less than one percent, shall become due each year during the maturity period until the entire principal is paid. If optional bonds are issued, the board of directors of the district, when funds are available for redemption purposes at any time after the optional date, shall call for offerings for redemption, and, out of the redemption fund provided for the payment of said bonds, shall pay any bonds presented for payment pursuant to such call to any holders thereof who offer the same for payment and redemption for the lowest amount below par, including accrued interest, to the extent of the funds available.

(5)

Available funds not used for the retirement of bonds shall be used in the redemption of outstanding bonds commencing with the lowest outstanding number. For the ultimate redemption of such refunding bonds, the board of county commissioners of each county embracing any portion of an irrigation district, at the time of making tax levies for county purposes commencing not more than ten years from the date of said refunding bonds, shall levy annually a separate tax upon the lands within a district subject to taxes for irrigation district purposes sufficient to discharge, at maturity, the principal of the refunding bonds issued, registered, and outstanding, pursuant to the provisions of sections 37-43-144 to 37-43-151; and except for the payment of an issue of refunding bonds payable serially, each annual tax levy for the payment of principal shall be equal, as nearly as can be. Such bonds shall be as nearly as possible in the same general form as an original issue of bonds of said district, with interest represented by coupons payable semiannually upon June 1 and December 1 of each year, at the office of the county treasurer of the county in which the organization of the district was effected, and, at the option of the board of directors, at such other places within or outside the state of Colorado as the board may designate in said bonds.

Source: Section 37-43-145 — Board of directors to issue bonds, (accessed Dec. 24, 2024).

37‑43‑101
Definition of landowner 37‑43‑102
Landowners to vote for directors on acreage basis 37‑43‑103
Directors may submit question 37‑43‑105
Increasing number of directors 37‑43‑106
Calling election - ballot 37‑43‑107
Voting 37‑43‑108
Who may vote 37‑43‑109
Canvassing vote - directors-at-large 37‑43‑110
When directors-at-large elected 37‑43‑111
Eligibility of directors 37‑43‑112
Agricultural college and school lands included 37‑43‑113
Petition - form and execution 37‑43‑114
Assessments 37‑43‑115
Mode of payment - receipts 37‑43‑116
Purchaser to pay accrued assessments 37‑43‑117
Lessee to pay assessments in addition to rent 37‑43‑118
Purchasers to pay to register until patent 37‑43‑119
Board of directors may exclude land 37‑43‑120
Land may be excluded at time of refinancing 37‑43‑121
Prior exclusion of lands 37‑43‑122
Irrigation districts to provide drainage 37‑43‑123
Title in seepage or waste waters 37‑43‑124
Sale of water rights and property 37‑43‑125
Election - notice - canvass 37‑43‑126
Determination of validity of sale 37‑43‑127
Proceedings by elector on failure of board 37‑43‑128
Sale 37‑43‑129
Decree of sale 37‑43‑130
Construction 37‑43‑131
Distribution of proceeds 37‑43‑132
Purposes for bond issues 37‑43‑133
Meeting of landowners 37‑43‑134
Voting on bond issue 37‑43‑135
Resolution of board of directors 37‑43‑136
Levy of tax - collection 37‑43‑137
Bonds receivable in payment of taxes 37‑43‑138
Construction 37‑43‑139
Bonds to retire warrants 37‑43‑140
Subject to outstanding bonds 37‑43‑141
Levy of tolls or charges 37‑43‑142
Where payment of tolls made 37‑43‑143
Water may be refused - when 37‑43‑144
Issuance of refunding bonds 37‑43‑145
Board of directors to issue bonds 37‑43‑146
Submission of question to electors 37‑43‑147
Sale of bonds 37‑43‑148
County treasurer to register bonds 37‑43‑149
Collection of taxes 37‑43‑150
Validity of bonds examined 37‑43‑151
Relief of lands from burden of refunded indebtedness 37‑43‑152
Board may contract with United States 37‑43‑153
Provisions of contract 37‑43‑154
Prior contracts validated 37‑43‑155
Powers cumulative 37‑43‑156
Irrigation districts may dissolve 37‑43‑157
Petition - where filed - contents 37‑43‑158
Dissolution - special election 37‑43‑159
Determination of validity of dissolution 37‑43‑160
Contents of petition - procedure - costs 37‑43‑161
Elector may bring action 37‑43‑162
May organize corporation to acquire assets 37‑43‑163
Decree of court 37‑43‑164
Apportionment of indebtedness 37‑43‑165
Plan must provide for adequate levies 37‑43‑166
Foreclosure subject to prior taxes 37‑43‑167
Disposition of surplus 37‑43‑168
Procedure where district is solvent 37‑43‑169
Dissolution of inactive irrigation districts 37‑43‑170
Petition for payment of indebtedness 37‑43‑171
Jurisdiction - order for hearing 37‑43‑172
Notice of hearing 37‑43‑173
Notice - how addressed 37‑43‑174
Completion of service 37‑43‑175
Answer or contest - default 37‑43‑176
Proceedings in rem - accounting 37‑43‑177
Indebtedness of inactive districts 37‑43‑178
Appeals 37‑43‑179
Dissolution - where bondholders are unknown 37‑43‑180
Petitions for dissolution 37‑43‑181
Notice of hearing 37‑43‑182
Disposition of unpaid funds 37‑43‑183
Application 37‑43‑184
Treasurer to strike off lands to county 37‑43‑185
Redemption 37‑43‑186
Lands offered for sale - when 37‑43‑187
When county entitled to tax deed 37‑43‑188
County may sell by quitclaim deed 37‑43‑189
Continuation of lien of bonded indebtedness 37‑43‑201
Short title 37‑43‑202
Definitions 37‑43‑203
Applicability - exercise of authority 37‑43‑204
Irrigation district - authority to contract 37‑43‑205
Special assessment 37‑43‑206
Authority to obtain loans to defray expenses 37‑43‑207
Power of eminent domain 37‑43‑208
Contracts - reimbursement by United States 37‑43‑209
Submission of plans to state engineer - not required 37‑43‑210
Compensation of director of contracting district 37‑43‑211
Creation of contracting district - election
Green check means up to date. Up to date

Current through Fall 2024

§ 37-43-145’s source at