Colorado § 37-31-147 Majority vote bonds issued - form of bonds and coupons

Colorado Statutes

§ 37-31-147 — Majority vote bonds issued - form of bonds and coupons

Colorado·Title 37 Water and·Art. Grand Valley Drainage District

If the
majority of the votes cast is Bonds - Yes, the board of directors shall issue
negotiable coupon bonds of the district. Bonds shall bear interest at a rate or rates
such that the net effective interest rate of the issue of bonds does not exceed the
maximum net effective interest rate authorized, payable semiannually, and shall be
due and payable serially, either annually or semiannually, commencing not later
than three years and extending not more than twenty years from date. The form
and terms of said bonds, including provisions for their payment and redemption,
shall be determined by the board. If the board so determines, such bonds may be
redeemable prior to maturity upon payment of a premium, not exceeding three
percent of the principal thereof. Said bonds shall be exec

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If the
majority of the votes cast is Bonds - Yes, the board of directors shall issue
negotiable coupon bonds of the district. Bonds shall bear interest at a rate or rates
such that the net effective interest rate of the issue of bonds does not exceed the
maximum net effective interest rate authorized, payable semiannually, and shall be
due and payable serially, either annually or semiannually, commencing not later
than three years and extending not more than twenty years from date. The form
and terms of said bonds, including provisions for their payment and redemption,
shall be determined by the board. If the board so determines, such bonds may be
redeemable prior to maturity upon payment of a premium, not exceeding three
percent of the principal thereof. Said bonds shall be executed in the name of and on
behalf of the district and signed by the president with the seal of the district affixed
thereto and attested by the secretary. Said bonds shall be in such denominations as
the board shall determine, and the bonds and coupons thereto attached shall be
payable to bearer. Interest coupons shall bear the original or facsimile signature of
the president.

Colorado § 37-31-147 (Majority vote bonds issued - form of bonds and coupons) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 23: p. 300, � 48. CSA: C. 57, � 74. CRS 53: � 47-12-48. C.R.S. 1963: � 47-12-48. L. 98: Entire section amended, p. 122, � 4, effective March 24.