Colorado § 32-15-119 Sale of special obligation bonds

Colorado Statutes

§ 32-15-119 — Sale of special obligation bonds

Colorado·Title 32 Special·Art. Metropolitan Football Stadium District Act

(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.

Free access — add to your briefcase to read the full text and ask questions with AI

(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.

Colorado § 32-15-119 (Sale of special obligation bonds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.