Colorado § 32-11-544 Purchase price and interest

Colorado Statutes

§ 32-11-544 — Purchase price and interest

Colorado·Title 32 Special·Art. Urban Drainage and Flood Control Act

(1)Any district securities designated in section 32-11-501 (2) and otherwise issued under this article, as may be provided by the board in a resolution authorizing their issuance and in any indenture or other proceedings pertaining thereto, may be issued at, above, or below par, at a discount not exceeding seven percent of the principal amount of the securities; but they may not be issued at a price such that the net effective interest rate of the issue of securities exceeds the maximum net effective interest rate authorized.

(2)Such district securities shall bear interest at a rate such that the net effective interest rate of the issue of securities does not exceed the maximum net effective interest rate authorized.

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(1) Any district securities
designated in section 32-11-501 (2) and otherwise issued under this article, as may
be provided by the board in a resolution authorizing their issuance and in any
indenture or other proceedings pertaining thereto, may be issued at, above, or
below par, at a discount not exceeding seven percent of the principal amount of the
securities; but they may not be issued at a price such that the net effective interest
rate of the issue of securities exceeds the maximum net effective interest rate
authorized.

(2) Such district securities shall bear interest at a rate such that the net
effective interest rate of the issue of securities does not exceed the maximum net
effective interest rate authorized.

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