§ 31-15-301 — Definitions

Colorado § 31-15-301

• Jurisdiction: Colorado
• Title 31: Government
• Art.: Exercise of Municipal Powers

Text

As used in this part 3, unless the context otherwise
requires:

(1) Net effective interest rate of a proposed issue of bonds means the net
interest cost of said 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.

(2) Net interest cost of a proposed issue of bonds means the total amount
of interest to accrue on said bonds from their date of issuance 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 effective interest rate and net interest cost shall be computed without regard
to any option of redemption prior to the designated maturity dates of the bonds.

Legislative History

Source: L. 75: Entire title R&RE, p. 1105, � 1, effective July 1.