The board may defray any costs of the rail district by the issuance of notes or warrants to evidence the amount due therefor, in anticipation of taxes or revenues or both. Interest on such notes or warrants shall be governed by the provisions of section 5-12-104, C.R.S. Notes and warrants may mature at such time not exceeding one year from their date of issuance as the board may determine. If such notes or warrants are not paid during the fiscal year in which they are issued, the board shall, at the end of its fiscal year, budget the amount necessary to pay in full the amount of notes and warrants outstanding and due during the next fiscal year.
Source: L. 82: Entire article added, p. 515, § 1, effective April 23.
Structure Colorado Code
Article 12 - Rail District Act
§ 32-12-102. Legislative Declaration
§ 32-12-104. Territorial Requirements for Rail Districts
§ 32-12-105. Petition for Formation
§ 32-12-106. Court Appoints Organizational Commission and Election Committee
§ 32-12-107. Rail District Organizational Commission
§ 32-12-108. Election for Formation - Acquisitions - Services - Mill Levy Limit - Board
§ 32-12-109. Board of Directors
§ 32-12-111. Powers to Be Exercised Without Franchise - Condition
§ 32-12-113. Revenues of Rail District - Collection
§ 32-12-114. Levy and Collection of Taxes
§ 32-12-115. Power to Issue Revenue Bonds - Terms
§ 32-12-116. Power to Incur Indebtedness - Interest - Maturity - Denominations
§ 32-12-117. Debt Question Submitted to Eligible Electors - Resolution
§ 32-12-118. Effect - Subsequent Elections
§ 32-12-119. Correction of Faulty Notices
§ 32-12-121. Anticipation Warrants
§ 32-12-122. Inclusion of Additional Territory in Existing Rail District - Procedures
§ 32-12-123. Grant of Operating Privileges and Use of Railroad and Facilities
§ 32-12-124. Arrangements for Operating and Providing Railroad Service
§ 32-12-125. Public Purpose and Necessity for Acquisitions