Colorado Statutes
§ 32-14-123 — Sale of special obligation bonds
(1)Any special obligation
bonds issued pursuant to this article shall be sold at public or private sale for not
less than the principal amount thereof and accrued interest, or at the option of the
board, below par, at a discount not exceeding seven percent of the principal
amount thereof, but such special obligation bonds shall never be sold at a price
such that the net effective interest rate exceeds the maximum net effective
interest rate authorized.
(2)No discount, except as provided in subsection (1) of this section, or
commission shall be allowed or paid on or for any sale to any purchaser or bidder,
directly or indirectly.
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Legislative History
Source: L. 89: Entire article added, p. 1337, � 1, effective June 2.
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