In order to facilitate the preliminary work, the board of directors may borrow money at a net effective interest rate as determined by the board and, as evidence of the debt so contracted, may issue and sell or may issue to contractors or others negotiable evidences of debt, in this article called "warrants", and may pledge, after it has been levied, the preliminary assessment of not exceeding five mills for the repayment thereof, or may pledge the revenue from any service charge or user fee to be levied by the subdistrict. If any warrant so issued by the board of directors is presented for payment and is not paid for want of funds in the treasury, that fact, with the date of presentation, shall be endorsed on the back of such warrant, which shall thereafter draw interest at the rate specified in the endorsement, not exceeding the net effective interest rate as when issued, until such time as there is money on hand sufficient to pay the amount of said warrant with interest.
Source: L. 75: Entire section added, p. 1383, § 7, effective July 18. L. 2007: Entire section amended, p. 1277, § 12, effective May 25.
Structure Colorado Code
Title 37 - Water and Irrigation
Article 48 - Rio Grande Water Conservation District
§ 37-48-101. Legislative Declaration
§ 37-48-102. Creation and Name of District
§ 37-48-103. Board of Directors
§ 37-48-105. Powers of District
§ 37-48-106. Principal Office - Meetings
§ 37-48-107. Assessment and Levy by Board
§ 37-48-108. Creation of Subdistricts
§ 37-48-109. Compensation of Directors
§ 37-48-110. Limitations on Power to Levy and Contract
§ 37-48-111. Investment of Surplus Funds
§ 37-48-113. Court Confirmation
§ 37-48-115. Notice and Hearing on Petition
§ 37-48-116. Election Resolution
§ 37-48-117. Conduct of Election
§ 37-48-118. Notice of Election
§ 37-48-120. Election Supplies
§ 37-48-122. Expenses of Election - Appropriation
§ 37-48-123. Procedure for Establishment of Subdistricts
§ 37-48-124. Time and Place of Hearing on Petition
§ 37-48-125. Filing of Protest - Procedure - Decree - Fee
§ 37-48-126. Official Plan for Subdistrict
§ 37-48-127. Execution of Plans
§ 37-48-129. Surveys and Examinations
§ 37-48-130. Cooperation With United States or Other Agencies
§ 37-48-131. Access to Lands - Penalty
§ 37-48-131. Access to Lands - Penalty
§ 37-48-132. Removal of Structures
§ 37-48-133. Passing Equipment Through Bridge or Grade
§ 37-48-134. Functions and Duties of Board of Managers
§ 37-48-135. Retention of Personnel
§ 37-48-136. Appointment of Appraisers
§ 37-48-138. Report of Appraisers - Special Improvement Bonds
§ 37-48-139. Notice of Hearing on Appraisals
§ 37-48-140. Hearing on Appraisals
§ 37-48-141. Decree on Appraisals
§ 37-48-143. Validation of Irregular Proceedings
§ 37-48-144. Compensation of Appraisers
§ 37-48-146. Power to Borrow Money for the Preliminary Fund
§ 37-48-147. Directors Bound by Financing Plan
§ 37-48-148. Special Assessments - Procedure in Making
§ 37-48-149. Special Improvement Bonds
§ 37-48-150. Manner of Collection - Tax Sale - Certificate of Purchase - Tax Deed
§ 37-48-151. Collection by Civil Action
§ 37-48-152. Special Improvement Assessments Constitute Perpetual Lien
§ 37-48-153. Directors to Remedy Defects - Special Improvement Assessments - Special Assessments
§ 37-48-154. Records of Assessments, Service Charges, or User Fees as Evidence
§ 37-48-155. Defects in Notice Perfected
§ 37-48-156. Contracts of Subdistricts
§ 37-48-157. Issuance of General Obligation Bonds - Revenue Bonds
§ 37-48-158. Board to Certify Tax Assessments
§ 37-48-160. Subdistrict Budget
§ 37-48-175. Election to Authorize Debt
§ 37-48-176. Definition of Elector
§ 37-48-178. Election Resolution
§ 37-48-179. Conduct of Election
§ 37-48-180. Notice of Election
§ 37-48-182. Election Supplies
§ 37-48-184. Debt Election Contests
§ 37-48-185. Covenants and Other Provisions in Bonds
§ 37-48-186. Liens on Pledged Revenues
§ 37-48-187. Rights - Powers of Holders of Bonds - Trustees
§ 37-48-188. Investments and Securities
§ 37-48-189. Rents and Charges
§ 37-48-190. Miscellaneous Powers
§ 37-48-191. Cooperative Powers
§ 37-48-192. Joint Action Entity