§ 23-71-501 — Definitions

As used in this part 5, unless the context otherwise
requires:

(1) Board of trustees means the governing body authorized by law to
administer the affairs of any local college district.

(2) District means a local college district organized and existing pursuant
to law.

(2.5) Eligible elector means an elector who has complied with the
registration provisions of article 2 of title 1, C.R.S., and who resides within the local
college district calling the election.

(3) Net effective interest rate of a proposed issue of bonds means the net
interest cost of the issue divided by the sum of the products derived by multiplying
the principal amount of such issue maturing on each maturity date by the number of
years from the date of said proposed bonds to their respective maturities. In all
cases, the net effective interest rate shall be computed without regard to any
option of redemption prior to the designated maturity dates of the bonds.

(4) Net interest cost of a proposed issue of bonds means the total amount
of interest to accrue on said bonds from their date to their respective maturities,
plus the amount of any discount below par or less the amount of any premium
above par at which said bonds are being or have been sold. In all cases the net
interest cost shall be computed without regard to any option of redemption prior to
the designated maturity dates of the bonds.

(5) and (6) (Deleted by amendment, L. 92, p. 860, � 72, effective January 1,
1993.)

Legislative History

Source: L. 75: Entire article added, p. 767, � 1, effective July 1. L. 86: (1) amended, p. 860, � 41, effective July 1. L. 92: (2.5) added and (5) and (6) amended, p. 860, � 72, effective January 1, 1993.