§ 30-26-105 — Form of bonds - redemption fund

Colorado § 30-26-105

• Jurisdiction: Colorado
• Title 30: Government
• Art.: Bonds

Text

The board of county
commissioners is authorized to prescribe the form of such bonds, and the coupons
thereto, and to provide for the half-yearly interest accruing on such bonds actually
issued and delivered; they shall levy annually a sufficient tax to fully discharge
such interest; and, for the ultimate redemption of such bonds, they shall levy
annually, after nine years from the date of such issuance, such tax upon all the
taxable property in their county as shall create a yearly fund equal to ten percent of
the whole amount of such bonds issued, which fund shall be called the redemption
fund. All taxes for interest on and for the redemption of such bonds shall be paid in
cash only and shall be kept by the county treasurer as a special fund to be used in
payment of interest on and for the redemption of such bonds only; and such taxes
shall be levied and collected as other taxes.

Legislative History

Source: L. 1881: p. 87, � 3. G.S. � 678. R.S. 08: � 1388. C.L. � 8849. CSA: C. 45, � 201. CRS 53: � 36-4-3. C.R.S. 1963: � 36-4-3.