Colorado § 22-5-106.5 Short-term loans

Colorado Statutes

§ 22-5-106.5 — Short-term loans

Colorado § 22-5-106.5

Title 22Education

Art.Boards of Cooperative

This text of Colorado § 22-5-106.5 (Short-term loans) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 22-5-106.5 (2026).

Text

A board of cooperative services may, upon
approval of its members, negotiate or contract with any person, corporation,
association, or company for a loan not to exceed the difference between the
anticipated revenues for the current fiscal year for the budget of the board of
cooperative services and the amount credited to date to said budget in order to pay
current obligations. Such loan shall be liquidated within six months thereafter from
moneys subsequently credited to said budget. The total principal, interest, and fees
to be paid on such loan shall not exceed the total amount of the authorized budget
for the same length of time.

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A board of cooperative services may, upon
approval of its members, negotiate or contract with any person, corporation,
association, or company for a loan not to exceed the difference between the
anticipated revenues for the current fiscal year for the budget of the board of
cooperative services and the amount credited to date to said budget in order to pay
current obligations. Such loan shall be liquidated within six months thereafter from
moneys subsequently credited to said budget. The total principal, interest, and fees
to be paid on such loan shall not exceed the total amount of the authorized budget
for the same length of time.