§ 31-35-403 — Authorization of facilities and bonds

Colorado § 31-35-403

• Jurisdiction: Colorado
• Title 31: Government
• Art.: Water and Sewage

Text

(1) The acquisition,
construction, reconstruction, lease, improvement, betterment, or extension of any
water facilities or sewerage facilities or both and the issuance, in anticipation of the
collection of revenues of such facilities, of bonds to provide funds to pay the cost
thereof may be authorized under this part 4 by action of the governing body of the
municipality taken at a regular or special meeting by a vote of a majority of the
members of the governing body.

(2) The governing body, in determining such cost, may include all costs and
estimated costs of the issuance of said bonds; all engineering, inspection, fiscal,
and legal expenses; interest which it is estimated will accrue during the
construction or other acquisition period and for a period of not exceeding one year
thereafter on money borrowed or which it is estimated will be borrowed pursuant to
this part 4; any discount on the sale of the bonds; costs of financial, professional,
and other estimates and advice; contingencies; any administrative, operating, and
other expenses of the municipality prior to and during such acquisition period and
for a period of not exceeding one year thereafter, as may be determined by the
governing body; all such other expenses as may be necessary or incident to the
financing, acquisition, improvement, equipment, and completion of any water or
sewerage facilities, joint water and sewer system, or part thereof, and the placing
of the same in operation; such provision or reserves for working capital, operation,
maintenance, or replacement expenses or for payment or security of principal of or
interest on any bonds during or after such an acquisition or improvement and
equipment as the governing body may determine; and also reimbursements to the
federal government or any agency, instrumentality, or corporation thereof of any
moneys theretofore expended for or in connection with any such water or sewerage
facilities or both.

Legislative History

Source: L. 75: Entire title R&RE, p. 1253, � 1, effective July 1.