Colorado Statutes
§ 32-11-627 — Special obligations
(1)Assessment debentures and assessment
bonds issued under this article shall constitute special obligations of the urban
district and shall not be a debt of the district. The district shall not be liable on such
securities except as otherwise expressly provided in this article, nor shall the urban
district thereby pledge its full faith and credit for their payment. Such securities
(other than debentures funded with bond proceeds) shall not be payable out of any
funds other than the special assessments (including installments thereof, interest
thereon, and any penalties) and other funds and moneys pledged as additional
security for the payment thereof, as authorized in this article.
(2)Each assessment debenture and assessment bond issued under this
article shall recite in subst
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Legislative History
Source: L. 69: p. 796, � 140. C.R.S. 1963: � 89-21-140.
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