§ 32-11-533 — Election to authorize debt

Colorado § 32-11-533

• Jurisdiction: Colorado
• Title 32: Special
• Art.: Urban Drainage and Flood Control Act

Text

Subject to the provisions of sections
32-11-564 and 32-11-566, no indebtedness shall be incurred by the issuance of
district securities or by any contract by which the district agrees to repay as
general obligations of the district to the federal government or to any public body
over a term not limited to the then current fiscal year any project costs advanced
thereby under any contract for the acquisition of the project or any interest therein,
advanced by the issuance of securities of such a public body to defray any cost of
the project or of facilities thereby acquired and becoming a part of the district's
facilities, or otherwise advanced, unless a proposal of issuing the district's general
obligation bonds, including the maximum net effective interest rate at which such
issue of bonds may be issued, or of incurring an indebtedness by the district by
making such a contract is submitted and approved at an election held for that
purpose in accordance with part 4 of this article and with all laws amendatory
thereof and supplemental thereto.

Legislative History

Source: L. 69: p. 773, � 75. C.R.S. 1963: � 89-21-75. L. 70: p. 301, � 124.