When approved at an election held pursuant to section 22-42-102, the board of education, from time to time, as the proceeds thereof shall be needed
for the purposes specified in the notice of said bond election, shall issue bonds
of the district in denominations of one thousand dollars or any multiple of one thousand
dollars, in its discretion, bearing interest at a rate such that the annual and total
repayment costs do not exceed the limits set forth in the notice of the bond election
and payable at such time determined in the discretion of the board, which bonds shall
mature serially, commencing not later than five years and extending not more than
twenty-five years after the date thereof. Principal and interest thereon shall be payable at such place as shall be determined
by said board and designated in said bonds. Said bonds shall be made callable for redemption, commencing no later than eleven
years after their date, in such manner, with or without premium, as may be determined
by the board. Interest on bonds issued on or after July 1, 1973, pursuant to this article shall
be exempt from Colorado income tax.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Response sent, thank you
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.