§ 32-11-558 — Issuance of interim debentures

(1) Notwithstanding any
limitation or other provision in this article, whenever the issuance of general
obligation bonds by a district for any project has been approved at an election held
in accordance with this article, the district is authorized to borrow money without
any other election in anticipation of the receipt of the proceeds of taxes, the
proceeds of the bonds, the proceeds of pledged revenues, or any other moneys of
the district, or any combination thereof, and to issue general obligation interim
debentures to evidence the amount so borrowed.

(2) The district also is authorized to borrow money without any election in
anticipation of the proceeds of revenue bonds of the district and of its pledged
revenues, or any combination thereof, but excluding the proceeds of any taxes, and
to issue special obligation interim debentures to evidence the amount so borrowed.

Legislative History

Source: L. 69: p. 780, � 100. C.R.S. 1963: � 89-21-100. L. 70: p. 301, � 126.