§ 37-43-147 — Sale of bonds

Colorado § 37-43-147

• Jurisdiction: Colorado
• Title 37: Water and
• Art.: Irrigation Districts of 1905 and 1921

Text

In case of the sale of said refunding bonds or any
portion thereof for cash, the same procedure shall be followed as in case of the sale
of an original issue of bonds; but, if no bid of par or better is received at public sale,
said bonds may be sold at private sale. No bond shall be sold for less than ninety-five percent of the par value thereof. The money realized from said sale shall be
used only for the purpose of paying the indebtedness for which said refunding
bonds were issued. Any part or all of said issue of refunding bonds may be
exchanged for the indebtedness to be refunded; but the par value of the refunding
bonds exchanged shall not exceed the par value of the indebtedness refunded
thereby. All indebtedness so discharged, either by payment or exchange, shall
immediately be canceled by the county treasurer of the county in which the office
of the district is located.

Legislative History

Source: L. 35: p. 674, � 4. CSA: C. 90, � 524. CRS 53: � 149-3-46. C.R.S. 1963: � 150-3-46.