§ 31-21-204 — Vote of electors required - procedures

(1) When such governing
body deems it expedient to issue refunding bonds under the provisions of this part
2 and either the net interest cost or the net effective interest rate of the proposed
issue of refunding bonds exceeds the net interest cost or the net effective interest
rate, respectively, of the issue of bonds to be refunded, the governing body, by
ordinance or resolution, shall submit the question of issuing said refunding bonds at
a special election called and held for that purpose or at a regular election of the
officers of such municipality; but bonds issued under this part 2 for the purpose of
refunding bonds which were originally issued to supply water to such municipality
shall not require such approval of the registered electors. An election held under
this section shall be held in the manner provided for the authorization of an original
bonded indebtedness in section 31-15-302 (1)(d).

(2) At any election held under the provisions of this part 2, the question of
authorizing the refunding of all or any part of the then outstanding bonded
indebtedness of the municipality may be submitted as one question for
determination whether such bonds are of the same or of different issues.

(3) The election shall be conducted as nearly as possible in conformity with
the provisions of the Colorado Municipal Election Code of 1965.

(4) The election notice shall specify, in addition to the time and places for
holding said election, the qualifications for persons to vote on such question, the
amount and date of the bonds to be refunded, the amount of refunding bonds
proposed to be issued, and the maximum net effective interest rate at which they
may be issued.

(5) At such election the ballots or voting machine tabs shall contain the
words For the Refunding Bonds and Against the Refunding Bonds.

Legislative History

Source: L. 75: Entire title R&RE, p. 1136, � 1, effective July 1.