§ 5-12-104 — Warrants to bear six percent

Colorado § 5-12-104

• Jurisdiction: Colorado
• Title 05: Consumer
• Art.: Interest - General Provisions

Text

County orders and warrants, town
and city and school orders and warrants, and other like evidences or certificates of
municipal indebtedness, shall bear interest at the rate of six percent per annum
from the date of the presentation thereof for payment at the treasury where the
same may be payable, until there is money in the treasury for the payment thereof,
except when otherwise specially provided by law. Every county treasurer, town
treasurer, and city treasurer to whom any such county, town, city, or school order or
warrant is presented for payment, and who shall not have on hand the funds to pay
the same, shall endorse thereon the rate of interest said order or warrant will draw,
and the date of such presentation, and subscribe such endorsement with his official
signature; however, all such orders and warrants may be made to bear a lower rate
of interest than above specified, by special agreement between such counties,
towns, and cities issuing the same, and the person to whom such orders or warrants
are issued.

Legislative History

Source: L. 71: R&RE, p. 852, � 1. C.R.S. 1963: � 73-12-104.