If it is found to be in the best interest of the district, the board of trustees may issue such bonds and accept therefor less than their face value; but such bonds shall be sold at a price such that the net effective interest rate for the issue of bonds does not exceed the maximum net effective interest rate approved by the voters in the election authorizing such bonds.
Source: L. 75: Entire article added, p. 772, § 1, effective July 1. L. 86: Entire section amended, p. 864, § 53, effective July 1.
Structure Colorado Code
Title 23 - Postsecondary Education
Article 71 - Local District Colleges
§ 23-71-502. Bonded Indebtedness - Elections
§ 23-71-503. Limitations on Elections
§ 23-71-504. Limit of Bonded Indebtedness
§ 23-71-514. Board of Trustees May Issue Bonds - Exemption From Colorado Income Tax
§ 23-71-516. Sale at Less Than Par - Discount
§ 23-71-517. Board of Trustees to Certify Needed Revenues
§ 23-71-518. Tax Levy to Pay Principal and Interest
§ 23-71-519. Bond Fund - Payment and Redemption
§ 23-71-521. Registration of Bonds
§ 23-71-522. Changes in Boundaries - Liability
§ 23-71-524. Prior Obligations Not Impaired