Colorado Code
Article 42 - Bonded Indebtedness
§ 22-42-104. Limit of Bonded Indebtedness

(1.2) For bonded indebtedness issued after June 1, 2011, the valuation for assessment of taxable property for the purposes of this section shall be the valuation for assessment of taxable property in the district as it existed on the December 10 prior to the date of issuance of the bonded indebtedness. The county assessor for the board of county commissioners shall report the valuation for assessment of taxable property in the district to the district and the department of education on each December 10.
(1.3) Notwithstanding the provisions of paragraph (a) of subsection (1) of this section and except as provided in subsection (1.4) of this section, the limit on bonded indebtedness of a school district is the greater of the limit determined pursuant to paragraph (b) of subsection (1) of this section or twenty-five percent of the latest valuation for assessment of the taxable property in the district, as certified by the county assessor to the board of county commissioners, for any bonded indebtedness approved at any election held on or after July 1, 1994, but before July 1, 2014, if the commissioner of education or the commissioner's designee certifies that for each of the preceding three fiscal years, or for three consecutive fiscal years that include the fiscal year in which the certification is made, the pupil enrollment or the funded pupil count of the district as of the pupil enrollment count day, whichever is applicable, has increased:

(1.4) For any bonded indebtedness approved at the 2008 general election, the limit on bonded indebtedness of a school district shall be the greater of the limit determined pursuant to subsection (1.3) of this section or thirty percent of the latest valuation for assessment of the taxable property in such district, as certified by the county assessor to the board of county commissioners, if the commissioner of education or the commissioner's designee certifies that for each of the preceding three fiscal years, or for three consecutive fiscal years that include the fiscal year in which the certification is made, the pupil enrollment or the funded pupil count of the district as of the pupil enrollment count day, whichever is applicable, increased:

(1.5) The debt limit provided in subsection (1.3) or (1.6) of this section applies to a district only as long as the conditions of subsection (1.3) or (1.6) of this section are met. In a year in which the conditions of said subsection (1.3) or (1.6) are not met, the debt limit is the limit set forth in subsection (1) of this section; except that the validity of bonded indebtedness incurred in any year in which the debt limit in said subsection (1.3) or (1.6) applies is not affected by a subsequent reduction in the district's debt limit.
(1.6) Notwithstanding the provisions of paragraph (a) of subsection (1) of this section and except as provided in subsection (1.4) of this section, the limit on bonded indebtedness of a school district is the greater of the limit determined pursuant to paragraph (b) of subsection (1) of this section or twenty-five percent of the latest valuation for assessment of the taxable property in the district, as certified by the county assessor to the board of county commissioners, for bonded indebtedness approved at an election held on or after July 1, 2014, if the commissioner of education or the commissioner's designee certifies that:

Source: L. 64: R&RE, p. 548, § 1. C.R.S. 1963: § 123-11-5. L. 70: p. 379, § 6. L. 72: p. 618, § 153. L. 73: p. 1277, § 5. L. 74: Entire section R&RE, p. 359, § 1, effective February 2. L. 83: (1)(a) amended and (3) added, p. 760, § 1, effective May 26; (2) added, p. 750, § 4, effective July 1. L. 88: (2) amended, p. 814, § 18, effective May 24. L. 90: IP(2)(a) amended, p. 1082, § 40, effective May 31. L. 91, 2nd Ex. Sess.: IP(2)(a) amended, p. 30, § 9, effective October 18. L. 92: (2)(a)(I) and (2)(a)(II) amended, p. 552, § 31, effective May 28. L. 94: Entire section amended, p. 805, § 9, effective April 27. L. 95: IP(1) amended and (1.3) and (1.5) added, p. 609, § 8, effective May 22. L. 96: IP(1.3) amended, p. 1796, § 12, effective June 4. L. 98: IP(1.3) and (1.3)(a) amended, p. 963, § 2, effective May 27. L. 2005: IP(1.3) amended, p. 434, § 8, effective April 29. L. 2007: (1.3) amended, p. 311, § 1, effective March 30; IP(1) and IP(1.3) amended and (1.4) added, p. 633, § 1, effective August 3. L. 2011: (1.2) added, (SB 11-230), ch. 305, p. 1467, § 7, effective June 9. L. 2012: IP(1.3) and IP(1.4) amended, (HB 12-1090), ch. 44, p. 153, § 17, effective March 22. L. 2014: IP(1), IP(1.3), and (1.5) amended and (1.6) added, (HB 14-1298), ch. 244, p. 923, § 8, effective May 21.
Editor's note: Amendments to subsection (1.3) by House Bill 07-1049 and House Bill 07-1239 were harmonized.