C.R.S. Section 37-46-120
Improvement district bonds

(1)

The board of directors of said district may issue as obligations of the subdistrict, not as an obligation of the Colorado river water conservation district, improvement district bonds to be paid out of special assessments made by said board of directors against all lands in the subdistrict, not exceeding in the aggregate principal amount of ninety percent of the amount of benefits assessed against said lands and unpaid at the time of issue of said bonds. The bonds shall contain a recital to the effect that they are issued under and in accordance with the provisions of this article as special improvement district bonds and are payable out of special assessments to be levied against the property in said subdistrict as provided in this article, and not otherwise. Such improvement district bonds shall be signed, “Water Users’ Association No. .... (or Special Improvement District No. ...., as the case may be) of the Colorado River Water Conservation District, By .............., President”, and countersigned “.............., Treasurer”.

(2)

Otherwise said bonds shall be in such denominations and become due at such dates, with interest payable either annually or semiannually at such rate subject to a maximum net effective interest rate, and contain such other provisions as may be fixed by the board of directors, if said provisions are not inconsistent with the terms of this article. Except as otherwise expressly modified in this article, the law relating to the form and issuance of bonds of conservancy districts under the laws of this state, particularly section 37-5-106, shall apply and govern officers of the district in the issuance and sale of said bonds, and other provisions of said law with respect to the levy of assessments or the payment of said bonds with interest, and particularly section 37-5-110, shall likewise be applicable to the bonds of a subdistrict organized under this article.

Source: Section 37-46-120 — Improvement district bonds, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-37.­pdf (accessed Oct. 20, 2023).

37‑46‑101
Legislative declaration 37‑46‑102
Definitions 37‑46‑103
District body corporate - area 37‑46‑104
Board of directors 37‑46‑105
Compensation of directors 37‑46‑106
Vacancies - secretary and treasurer 37‑46‑107
General powers 37‑46‑108
Principal office - meetings 37‑46‑109
Authority of board to levy taxes 37‑46‑109.3
Taxes - determination and collection 37‑46‑109.4
Levies to cover district’s deficiencies 37‑46‑110
Organization 37‑46‑111
Rules and regulations 37‑46‑112
Petition 37‑46‑113
Notice of hearing on petition 37‑46‑114
Protesting of petitions 37‑46‑114.5
Alternative procedure for organizing a subdistrict 37‑46‑115
Board of directors to prepare plans 37‑46‑116
Appointment of appraisers 37‑46‑117
Compensation of appraisers 37‑46‑118
Board bound by financing plan 37‑46‑119
Directors may make assessments 37‑46‑120
Improvement district bonds 37‑46‑121
Assessments perpetual lien 37‑46‑122
Invalid assessments - board remedy 37‑46‑123
Assessment record as evidence 37‑46‑124
Remedies in case of faulty notice 37‑46‑125
Lawful contracts 37‑46‑126
Issuance of general obligation bonds and revenue bonds 37‑46‑126.2
Subdistrict’s levy of taxes 37‑46‑126.3
Levy and collection of subdistrict’s taxes 37‑46‑126.4
Levies to cover subdistrict deficiencies 37‑46‑126.5
County to levy and collect 37‑46‑126.6
Delinquent taxes 37‑46‑127
Maintenance assessment 37‑46‑128
Annual levy limit 37‑46‑129
Investment of surplus funds 37‑46‑130
Sinking fund 37‑46‑131
Court confirmation 37‑46‑132
Allocation of water or service 37‑46‑133
Election to authorize debt 37‑46‑134
Definition of elector 37‑46‑135
Elections 37‑46‑136
Election resolution 37‑46‑137
Conduct of election 37‑46‑138
Notice of election 37‑46‑139
Polling places 37‑46‑140
Election supplies 37‑46‑141
Election returns 37‑46‑142
Debt election contests 37‑46‑143
Covenants and other provisions in bonds 37‑46‑144
Liens on pledged revenues 37‑46‑145
Rights - powers of holders of bonds - trustees 37‑46‑146
Investments and securities 37‑46‑147
Rents and charges 37‑46‑148
Miscellaneous powers 37‑46‑149
Cooperative powers 37‑46‑150
Joint action entity 37‑46‑151
Correlative powers of political subdivisions
Green check means up to date. Up to date

Current through Fall 2024

§ 37-46-120’s source at colorado​.gov