§ 37-45-139 — Contracts - submission to electors

(1) Whenever the board
incorporated under this article, by resolution adopted by a majority of the said
board, determines that the interests of said district and the public interest or
necessity demand the acquisition, construction, or completion of any source of
water supply, waterworks, or other improvements or facilities or the making of any
contract with the United States or other persons or corporations to carry out the
objects or purposes of said district, wherein the annual obligation created will
require a greater annual expenditure than the annual income and revenue that the
district is estimated to permit, said board shall order the submission of the
proposition of incurring such obligation or bonded or other indebtedness for the
purposes set forth in said resolution to the electors of the district at an election
held for that purpose pursuant to the provisions of this section and section 37-45-142; except that no such election shall be required when the evidence of
indebtedness evidencing the obligation created expressly states that it is payable
solely from revenues derived from payments made with respect to contracts which
are entered into pursuant to this article.

(2) Any election held for the purpose of submitting any proposition of
incurring such obligation or indebtedness may be held separately or may be
consolidated or held concurrently with any other election authorized by law at
which such qualified electors of the district are entitled to vote.

(3) The declaration of public interest or necessity required in this section and
the provisions for the holding of such election may be included within one and the
same resolution, which resolution, in addition to such declaration of public interest
or necessity, shall recite the objects and purposes for which the indebtedness is
proposed to be incurred, the estimated cost of the works or improvements, as the
case may be, the amount of principal of the indebtedness to be incurred therefor,
and the maximum net effective rate of interest to be paid on such indebtedness.
Such resolution shall also fix the date upon which such election shall be held and
the manner of holding the same and the method of voting for or against the
incurring of the proposed indebtedness. Such resolution shall also fix the
compensation to be paid the officers of the election and shall designate the
precincts and polling places and shall appoint for each polling place, from each
precinct from the electors thereof, the officers of such election, which officers shall
consist of three judges, one of whom shall act as clerk, who shall constitute a board
of election for each polling place.

(4) The description of precincts may be made by reference to any order of
the board of county commissioners of the county in which the district or any part
thereof is situated or by reference to any previous order or resolution of the board
or by detailed description of such precincts. Precincts established by the boards of
the various counties may be consolidated for special elections held under this
article. In the event any such election is called to be held concurrently with any
other election or is consolidated therewith, the resolution calling the election under
this article need not designate precincts or polling places or the names of officers
of election but shall contain reference to the act or order calling such other
election and fixing the precincts and polling places and appointing election officers
therefrom.

Legislative History

Source: L. 37: p. 1352, � 32. CSA: C. 173B, � 46. CRS 53: � 149-6-34. C.R.S. 1963: � 150-5-34. L. 70: p. 438, � 4. L. 81: (1) amended, p. 1759, � 1, effective May 22.