§ 32-12-121 — Anticipation warrants

The board may defray any costs of the rail
district by the issuance of notes or warrants to evidence the amount due therefor, in
anticipation of taxes or revenues or both. Interest on such notes or warrants shall
be governed by the provisions of section 5-12-104, C.R.S. Notes and warrants may
mature at such time not exceeding one year from their date of issuance as the
board may determine. If such notes or warrants are not paid during the fiscal year in
which they are issued, the board shall, at the end of its fiscal year, budget the
amount necessary to pay in full the amount of notes and warrants outstanding and
due during the next fiscal year.

Legislative History

Source: L. 82: Entire article added, p. 515, � 1, effective April 23.