§ 22-42-120 — Place of payment

(1) The board of education of a school district
is authorized to designate the office of the county treasurer of the county in which
the headquarters of such school district is situated as the place of payment or
optional place of payment of the principal of or interest on any bonds issued by any
such school district, or to designate any commercial bank or trust company as the
place of payment or optional place of payment of the principal of or interest on any
bonds issued by any such school district, and the commercial bank or trust
company so designated may be located either within or without this state.

(2) It is the duty of the board of education of said school district to cause
sufficient moneys from said tax levy or refunding escrow account to be placed from
time to time at the place of payment, or optional place of payment, designated on
said bonds in an amount to satisfy the principal and interest obligations of said
bonds as the same may become due and payable from time to time. It is the duty of
the treasurer of said school district to pay, or instruct the third-party custodian
administering the school district's bond redemption fund pursuant to section 22-45-103 (1)(b)(V) to pay, the obligations of said bonds as the same may become due
and payable, upon presentation of the bonds and coupons respectively evidencing
such obligations, from any moneys to the credit of the appropriate account
available for that purpose.

Legislative History

Source: L. 64: R&RE, p. 556, � 1. C.R.S. 1963: � 123-11-21. L. 2003: (2) amended, p. 1296, � 4, effective April 22.