§ 34-51-119 — Bonds - sales - interest and lien

Colorado § 34-51-119

• Jurisdiction: Colorado
• Title 34: Mineral
• Art.: Mine Drainage Districts

Text

The board has power to raise
money necessary to carry out the system of drainage adopted, and to otherwise
accomplish the objects and purposes of this article, by the issue and sale of bonds,
bearing interest not to exceed eight percent per annum, payable at the office of the
county treasurer, in even sums of not less than five hundred dollars, and such bonds
shall be a lien upon all property within the boundaries of the district made taxable
under this article. The board may sell bonds from time to time in such quantities as
may be necessary to carry out the objects and purposes of this article. Before
making any sale the board shall, at a meeting, by resolution declare its intention to
sell and shall cause such resolution to be entered in the minutes and notice of the
sale to be given by publication thereof at least twenty days in a daily newspaper
published in the city of Denver, and in any other newspaper, at its discretion. The
notice shall state that sealed proposals will be received by the board at its office,
for the purchase of the bonds, till the day and hour named in the resolution. At the
time appointed the board shall open the proposals and award the purchase of the
bonds to the highest responsible bidder and may reject all bids; but said board in no
event shall sell any of said bonds for less than ninety-five percent of the face value
thereof.

Legislative History

Source: L. 11: p. 513, � 21. C.L. � 3343. CSA: C. 110, � 236. CRS 53: � 92-28-21. C.R.S. 1963: � 92-28-21.