reglab/statecodes huggingface dataset:
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 2 - LOCAL DISTRICT COLLEGES - STATE SYSTEM (§§ 23-71-201 — 23-71-208) › Section 23-71-202 - Joining state system - state support

(1)
Any local college district organized or authorized to be organized under the provisions of this article may apply to the board to become a part of the state system as provided in this part 2; but this subsection (1) shall not apply to any local college district organized on or after December 31, 1967, pursuant to title 22, C.R.S. 1973, or to this title unless the board has approved the district prior to its organization. The application shall include a plan of dissolution and report of finances as required by section
23-71-203
and shall be considered by the board and the Colorado commission on higher education as provided in section
23-71-204
.
(2)
In advance of entering the state system, local college districts shall receive annually such state support for the education of Colorado resident students as is appropriated for operating purposes.
(3)
Any local college district organized or authorized to be organized after July 1, 1967, which is not a part of the state system shall not be eligible to receive any state funds for capital construction purposes unless the board has approved the district prior to its organization.
(4)
After the entry of any local college district into the state system, no general property taxes shall be levied for the operational expenses of the local college district; except that a tax levy shall be continued for the purposes of payment of any general obligation of the district, whether bonded indebtedness or otherwise, owed by the district and not assumed by the state.
L. 75: Entire article added, p. 760, § 1, effective July 1.
The reference in subsection (1) to "any junior college district organized on or after December 31, 1967, pursuant to title 22, C.R.S. 1973" is to any junior college organized pursuant to article
70
of title
22
prior to its repeal on July 1, 1975.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 2 - LOCAL DISTRICT COLLEGES - STATE SYSTEM (§§ 23-71-201 — 23-71-208) › Section 23-71-205 - Withdrawal from state system

Any community college may withdraw from the state system and establish a local college district pursuant to procedures established by the Colorado commission on higher education. The procedures shall provide for a vote by the eligible electors of the area proposed to be incorporated into a local college district. The Colorado commission on higher education shall provide for the transfer of college property and liabilities to the district in the event of such a withdrawal and establishment.
L. 85: Entire section added, p. 767, § 20, effective July 1. L. 92: Entire section amended, p. 860, § 71, effective 1/1/1993.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 2 - LOCAL DISTRICT COLLEGES - STATE SYSTEM (§§ 23-71-201 — 23-71-208) › Section 23-71-208 - Colorado Northwestern community college - disposal of assets

Any aircraft or other equipment used by the Colorado Northwestern community college in its aviation-related programs may be disposed of by the state board for community colleges and occupational education, created in section
23-60-104
, by sale, trade, or other method of disposal. Any proceeds from the disposal of such aircraft shall be the property of the state board for community colleges and occupational education for the use and benefit of Colorado Northwestern community college. The disposal of such aircraft or equipment shall be exempt from section
17-24-106.6
, C.R.S., relating to surplus state property and any rules promulgated thereunder.
L. 2006: Entire section added, p. 163, § 2, effective March 31.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 3 - DIRECT GRANTS TO LOCAL COLLEGE DISTRICTS (§§ 23-71-301 — 23-71-304) › Section 23-71-301 - Direct grants to local college districts - occupational courses

(1)
Colorado mountain college and Aims community college shall each annually receive a direct grant, from funds appropriated for this purpose, in an amount specified annually by the general assembly pursuant to section
23-18-304
.
(2) and (3)
Repealed.
(4)
(a)
If a school district or group of school districts is annexed into an existing local college district pursuant to section
23-71-128
, for at least five years after the date of the annexation, the commission shall annually consider recommending that the local college district's direct grant, after applying any adjustments set forth in section
23-18-304(3)
, be increased as provided in section
23-18-304(3)(b)
to recognize increases in resident enrollment resulting from the annexation process.
(b)
Prior to recommending an increase to a local college district's direct grant pursuant to subsection (4)(a) of this section, the Colorado commission on higher education shall consult with the governing board of the affected local college district.
Amended by 2019 Ch. 80,§ 2, eff. 8/2/2019.
L. 75: Entire article added, p. 762, § 1, effective July 1; entire section amended, p. 789, § 1, effective July 28. L. 77: (1) amended, p. 280, § 28, effective June 29. L. 78: (1) and (2) amended, p. 388, § 1, effective May 5. L. 81: (3) amended, p. 1124, § 1, effective May 18. L. 87: (1)(b) amended and (2) and (3) repealed, p. 840, §§ 2, 4, effective June 16. L. 94: (1) amended, p. 486, § 1, effective March 31. L. 2014: (1)(a) amended, (HB 14-1319), ch. 612, p. 612, § 7, effective May 9. L. 2015: (1) amended, (HB 15-1224), ch. 268, p. 268, § 3, effective April 10. L. 2019: (4) added, (HB 19-1153), ch. 288, p. 288, § 2, effective August 2.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 3 - DIRECT GRANTS TO LOCAL COLLEGE DISTRICTS (§§ 23-71-301 — 23-71-304) › Section 23-71-302 - Distribution of grants

(1)
The board shall annually certify to the state treasurer the amount of the direct grants to be paid to Colorado mountain college, Aims community college, and the area technical colleges, as specified by the general assembly and appropriated pursuant to section
23-18-304
for the applicable fiscal year. Each institution or area technical college may use the direct grants for current operating costs or for capital construction.
(2)
Repealed.
L. 75: Entire article added, p. 752, § 1, effective July 1. L. 81: (1) amended, p. 1125, § 1, effective July 1. L. 2015: (1) amended and (2) repealed, (HB 15-1224), ch. 94, p. 268, § 4, effective April 10. L. 2016: (1) amended, (HB 16-1082), ch. 58, p. 151, § 36, effective August 10.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 3 - DIRECT GRANTS TO LOCAL COLLEGE DISTRICTS (§§ 23-71-301 — 23-71-304) › Section 23-71-303 - Distributions to area technical colleges

(1)
Any area technical college operating or organized and operating as such during the entire school year may be reimbursed by the state in an amount specified annually by the general assembly pursuant to section
23-18-304
. Such reimbursement must not exceed the total direct cost of the vocational program per FTE.
(2)
Distributions made under this section shall be only for students with a declared objective in approved occupational courses and shall not include students enrolled with avocational objectives.
L. 75: Entire article added, p. 763, § 1, effective July 1. L. 77: (1) amended, p. 1128, § 1, effective July 1. L. 80: (1) amended, p. 574, § 1, effective July 1. L. 87: (1) amended, p. 840, § 3, effective June 16. L. 94: (1) amended, p. 487, § 2, effective March 31. L. 2014: (1) amended, (HB 14-1319), ch. 169, p. 612, § 8, effective May 9. L. 2016: (1) amended, (HB 16-1082), ch. 58, p. 151, § 37, effective August 10.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 4 - TAX LEVIES AND REVENUES (§§ 23-71-401 — 23-71-407) › Section 23-71-401 - Definitions

As used in this part 4, unless the context otherwise requires:
(1)
"Board of trustees" means the local college district board of trustees authorized by law to administer the affairs of any district.
(2)
"District" means a local college district organized and existing pursuant to law.
L. 75: Entire article added, p. 764, § 1, effective July 1. L. 86: (1) amended, p. 857, § 34, effective July 1.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 4 - TAX LEVIES AND REVENUES (§§ 23-71-401 — 23-71-407) › Section 23-71-403 - Change in needed tax revenues - unlawful

A board of trustees or a board of county commissioners shall not modify the amount certified pursuant to section
23-71-402
as needed for any fiscal year, nor shall said board of county commissioners be charged with any discretion in determining or reviewing the amounts so certified other than to ascertain if said amounts are within the limitations as prescribed by law.
L. 75: Entire article added, p. 765, § 1, effective July 1. L. 86: Entire section amended, p. 858, § 36, effective July 1.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 4 - TAX LEVIES AND REVENUES (§§ 23-71-401 — 23-71-407) › Section 23-71-404 - County treasurer - accounts - warrants

(1)
It is the duty of the county treasurer to keep separate accounts by funds and subsidiary accounts for the bond redemption fund of each district in his county, and said funds and accounts shall be subject to the warrants of said district. The tax revenues shall be credited to the proper fund and account, together with any penalty interest collected thereon.
(2)
If only a portion of a district is situate within the territorial limits of said county and the headquarters of said district are not located therein, the county treasurer shall transfer, at the end of each month, all moneys which have accrued to the credit of said district to the county treasurer of the county wherein the headquarters of said district is located. No warrant shall be drawn by a district situate in more than one county against its moneys except against those moneys in the custody of the county treasurer of the county wherein the district headquarters is located.
(3)
If a district warrant is presented to the county treasurer of a district situate in his county and there are no moneys or insufficient moneys to the credit of said district in the proper fund or account thereof to pay such warrant, it is the duty of said county treasurer to register such warrants in the order of presentment and endorse each such warrant "no funds". Registered warrants shall draw interest from the date of such registration and endorsement at the rate and in the manner as registered county warrants. The county treasurer shall keep a list of all warrants so registered and endorsed and furnish a copy of said list to the treasurer of said district. The county treasurer shall pay both the principal and interest of said warrants, in the order of registration, when there are sufficient moneys to the credit of the district fund or account upon which any such warrant was drawn. It is his duty to cause to be published in a newspaper with general distribution in said district for five days a notice that certain district warrants, describing said warrants by numbers and amounts, will be paid upon presentation at the expiration of said five-day notice, at which time said warrants shall cease to bear interest.
(4)
It is unlawful for a district to issue warrants in excess of the amount budgeted or appropriated to or the anticipated revenues for any fund, whichever is less, for said district's fiscal year whether or not the board of trustees of said district has elected to withdraw its moneys from the custody of the county treasurer.
(5)
It is the duty of the county treasurer to cancel all paid district warrants with a proper canceling stamp and indicate the date of payment thereof.
L. 75: Entire article added, p. 765, § 1, effective July 1. L. 84: (1) amended, p. 1002, § 2, effective March 16. L. 86: (4) amended, p. 859, § 37, effective July 1.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 4 - TAX LEVIES AND REVENUES (§§ 23-71-401 — 23-71-407) › Section 23-71-405 - Depositories

(1)
When the board of trustees of a district has elected to have all moneys belonging to the district paid over to the treasurer of said board, the treasurer shall deposit, or cause to be deposited, all such moneys in such depositories as shall be designated by such board.
(2)
Each designated depository shall be required to give a surety bond in an amount equal to at least one hundred ten percent of the amount on deposit to the credit of the district at any time, with sureties approved by the board of trustees of the district and conditioned for the payment of all moneys on deposit to the credit of the district, upon demand of the treasurer thereof through presentation of checks, warrants, or orders. In lieu of such surety bond, the board of trustees may accept obligations of the United States or the state of Colorado or general obligation bonds of any district located within the state in an amount equal to said surety bond, and such securities shall be placed with and held in trust by some bank, other than the depository, within the state or with the Denver branch of the federal reserve bank of Kansas City, Missouri, contingent upon the issuance of a joint custody receipt subject to the joint order of the depository and the treasurer of said board and conditioned to secure and guarantee payment of all moneys on deposit to the credit of said district, upon demand of the district through presentation of a warrant or order.
(3)
Any moneys belonging to a district which are temporarily not needed in the conduct of its operations may be invested or deposited by the board of trustees of such district pursuant to the provisions of sections
24-75-601
to
24-75-603
, C.R.S.
(4)
Notwithstanding the provisions of this section, the board of trustees of any district may provide for the establishment, operation, and maintenance of refunding escrow agreements and accounts and may provide for payment of principal and interest on the outstanding bonds of such district by paying agents, pursuant to the provisions of parts 5 and 6 of this article.
L. 75: Entire article added, p. 756, § 1, effective July 1. L. 86: Entire section amended, p. 859, § 38, effective July 1.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 4 - TAX LEVIES AND REVENUES (§§ 23-71-401 — 23-71-407) › Section 23-71-406 - Registered warrants by treasurer of the board of trustees

If a board of trustees has elected to withdraw all district moneys from the temporary custody of the county treasurer and there are no moneys or insufficient moneys to the credit of the proper fund of said district on deposit with a depository to pay any warrant or order drawn against said fund, the treasurer of said board of trustees shall register said warrant in the same manner as otherwise prescribed for a county treasurer under the provisions of section
23-71-404
. Registered warrants shall draw interest from the date of such registration and endorsement at the rate and in the same manner as warrants registered by the county treasurer. The treasurer of said board of trustees shall perform all duties required of the county treasurer under section
23-71-404(3)
in the registration and payment of district warrants registered by said treasurer of the board of trustees, including publication for notice of payment thereof.
L. 75: Entire article added, p. 766, § 1, effective July 1. L. 86: Entire section amended, p. 859, § 39, effective July 1.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 4 - TAX LEVIES AND REVENUES (§§ 23-71-401 — 23-71-407) › Section 23-71-407 - Short-term loans

The board of trustees of any district may negotiate or contract with any person, corporation, association, or company for a loan not to exceed the difference between the anticipated revenues for the current fiscal year for the general fund and the amount credited to date to said general fund in order to eliminate the necessity of issuing registered warrants upon said general fund. Such loan shall be liquidated within six months thereafter from moneys subsequently credited to said general fund. The total rate of interest, including fees to be paid on such loan, shall not exceed seventy-five percent of the discount rate set by the federal reserve board for the tenth federal reserve district establishing the rate of interest which federal reserve banks shall charge member banks when such member banks borrow money from a federal reserve bank.
L. 75: Entire article added, p. 766, § 1, effective July 1. L. 80: Entire section amended, p. 556, § 2, effective April 13. L. 86: Entire section amended, p. 860, § 40, effective July 1.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-501 - Definitions

As used in this part 5, unless the context otherwise requires:
(1)
"Board of trustees" means the governing body authorized by law to administer the affairs of any local college district.
(2)
"District" means a local college district organized and existing pursuant to law.
(2.5)
"Eligible elector" means an elector who has complied with the registration provisions of article
2
of title
1
, C.R.S., and who resides within the local college district calling the election.
(3)
"Net effective interest rate" of a proposed issue of bonds means the net interest cost of the issue divided by the sum of the products derived by multiplying the principal amount of such issue maturing on each maturity date by the number of years from the date of said proposed bonds to their respective maturities. In all cases, the net effective interest rate shall be computed without regard to any option of redemption prior to the designated maturity dates of the bonds.
(4)
"Net interest cost" of a proposed issue of bonds means the total amount of interest to accrue on said bonds from their date to their respective maturities, plus the amount of any discount below par or less the amount of any premium above par at which said bonds are being or have been sold. In all cases the net interest cost shall be computed without regard to any option of redemption prior to the designated maturity dates of the bonds.
(5) and (6)
(Deleted by amendment, L. 92, p. 860, § 72, effective January 1, 1993.)
L. 75: Entire article added, p. 767, § 1, effective July 1. L. 86: (1) amended, p. 860, § 41, effective July 1. L. 92: (2.5) added and (5) and (6) amended, p. 860, § 72, effective 1/1/1993.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-503 - Limitations on elections

The question of contracting bonded indebtedness may be submitted or resubmitted after the same or any other such question has previously been rejected at an election held pursuant to this part 5; but no such question shall be submitted or resubmitted at any election held less than one hundred twenty days after a previous submission of such question, and the board of trustees of a district shall not submit any question of contracting bonded indebtedness at more than two elections within any twelve-month period. The provisions of this section shall not apply to elections on assumption of existing bonded indebtedness held pursuant to law.
L. 75: Entire article added, p. 768, § 1, effective July 1. L. 86: Entire section amended, p. 861, § 43, effective July 1.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-504 - Limit of bonded indebtedness

(1)
Each district shall have a limit of bonded indebtedness of twenty percent of the latest valuation for assessment of the taxable property in such district as certified by the assessor to the board of county commissioners. The indebtedness of the former districts or parts of districts, constituting any new district, shall not be considered in fixing the limit of such twenty percent; but, if any district assumes the bonded indebtedness of any other district, or a proportionate share thereof, existing at the time of inclusion in the assuming district, pursuant to law, such bonded indebtedness shall be included in the twenty percent limitation.
(2)
The permission to incur additional bonded indebtedness, granted by the property tax administrator in the department of local affairs, and any district bonds issued pursuant thereto on or after May 10, 1972, are hereby validated. This subsection (2) shall not be construed to grant authority to incur bonded indebtedness in excess of said twenty percent limitation.
L. 75: Entire article added, p. 769, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-505 - [Repealed]

L. 75: Entire article added, p. 769, § 1, effective July 1. L. 86: Entire section amended, p. 861, § 44, effective July 1. L. 92: Entire section repealed, p. 862, § 74, effective 1/1/1993.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-506 - [Repealed]

L. 75: Entire article added, p. 769, § 1, effective July 1. L. 86: Entire section amended, p. 862, § 45, effective July 1. L. 92: Entire section repealed, p. 862, § 75, effective 1/1/1993.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-507 - [Repealed]

L. 75: Entire article added, p. 769, § 1, effective July 1. L. 92: Entire section amended, p. 862, § 76, effective 1/1/1993. L. 93: Entire section repealed, p. 1438, § 131, effective July 1.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-508 - [Repealed]

L. 75: Entire article added, p. 769, § 1, effective July 1. L. 86: Entire section amended, p. 862, § 46, effective July 1. L. 92: Entire section repealed, p. 862, § 77, effective 1/1/1993.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-509 - [Repealed]

L. 75: Entire article added, p. 770, § 1, effective July 1. L. 86: Entire section amended, p. 863, § 47, effective July 1. L. 92: Entire section repealed, p. 863, § 78, effective 1/1/1993.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-510 - [Repealed]

L. 75: Entire article added p. 770, § 1, effective July 1. L. 80: (4) amended, p. 410, § 12, effective 1/1/1981. L. 86: (1) and (3) amended, p. 863, § 48, effective July 1. L. 92: Entire section repealed, p. 863, § 79, effective 1/1/1993.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-511 - [Repealed]

L. 75: Entire article added, p. 771, § 1, effective July 1. L. 86: (1) amended, p. 863, § 49, effective July 1. L. 92: Entire section repealed, p. 864, § 80, effective 1/1/1993.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-512 - [Repealed]

L. 75: Entire article added, p. 771, § 1, effective July 1. L. 80: Entire section amended, p. 410, § 13, effective 1/1/1981. L. 92: Entire section repealed, p. 864, § 81, effective 1/1/1993.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-513 - [Repealed]

L. 75: Entire article added, p. 771, § 1, effective July 1. L. 86: Entire section amended, p. 863, § 50, effective July 1. L. 92: Entire section repealed, p. 865, § 82, effective 1/1/1993.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-514 - Board of trustees may issue bonds - exemption from Colorado income tax

When approved at an election held pursuant to section
23-71-502
, the board of trustees, from time to time, as the proceeds thereof are 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 net effective interest rate of the bond issue does not exceed the maximum net effective interest rate specified in the notice of said bond election, payable at such time, determined in the discretion of the board of trustees, which bonds shall mature serially, commencing not later than five years and extending not more than twenty-five years from the date thereof. Principal and interest thereon shall be payable at such place as shall be determined by said board of trustees and designated in said bonds. Said bonds shall be made callable for redemption commencing no later than eleven years from their date in such manner, with or without premium, as may be determined by the board of trustees. Interest on local college district bonds issued on or after July 1, 1973, shall be exempt from Colorado income tax.
L. 75: Entire article added, p. 772, § 1, effective July 1. L. 86: Entire section amended, p. 863, § 51, effective July 1.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-515 - Form of bonds

The bonds issued under the provisions of this part 5 shall be numbered consecutively, beginning with number one. The board of trustees of the district is authorized to prescribe the form of such bonds. Said bonds shall recite that they are issued pursuant to this part 5, and said bonds shall be signed by the president of the board of trustees, bear an impression of the seal of the district, and be attested by signature of the secretary. Coupons, if any, evidencing the interest thereon shall bear the signature of the president of the board of trustees, which may be affixed by him in person, or it may be an engraved or lithographed facsimile thereof. At the discretion of the board of trustees, any bonds may be issued with privileges for registration of such bonds for payment as to principal, interest, or both. In the execution of bonds authorized pursuant to this part 5, the board of trustees may provide for the use of facsimile signatures and facsimile seals in the manner set forth in article
55
of title
11
, C.R.S.
L. 75: Entire article added, p. 772, § 1, effective July 1. L. 86: Entire section amended, p. 864, § 52, effective July 1.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-516 - Sale at less than par - discount

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.
L. 75: Entire article added, p. 772, § 1, effective July 1. L. 86: Entire section amended, p. 864, § 53, effective July 1.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-517 - Board of trustees to certify needed revenues

(1)
If the board of trustees has issued any of said bonds at the time of certifying to the board of county commissioners a statement showing the amount necessary to raise from the taxable property of said district for the general fund as required by law, it shall also certify to said board of county commissioners the amount needed for its bond redemption fund to pay all installments of principal and interest of said bonds, which, according to their terms, have already become due and payable or shall become due and payable during the next ensuing fiscal year, or both, together with such additional amount, if any, as, in the judgment of the board of trustees, is desirable to raise from the taxable property of said district for the purpose of redeeming, during the said ensuing fiscal year, any of said bonds which are redeemable but not due.
(2)
The board of trustees has the authority to include in each amount certified for said bond redemption fund an amount to create a reserve for the redemption of bonds in future years prior to their maturities or for purchasing at a discount and cancellation any bond on which the interest is being paid from the current district debt service mill levy; but said reserve shall be restricted to the subsidiary account in the bond redemption fund for which said tax levy was made. A total of not more than one mill on the then current valuation for assessment may be carried in the reserve at any one time to be available for prior redemption purposes.
L. 75: Entire article added, p. 772, § 1, effective July 1. L. 86: Entire section amended, p. 864, § 54, effective July 1.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-518 - Tax levy to pay principal and interest

(1)
If any district has issued bonds under the provisions of this part 5, it is the duty of the board of county commissioners of the county in which said district is situated, at the time of levying other district taxes, to levy a tax on all the taxable property of said district at a rate sufficient to produce such amount as has been certified by the board of trustees of said district for the purpose of paying bonds not yet due, as provided in section
23-71-517
.
(2)
Except when said district has sufficient moneys or securities in a refunding escrow account to satisfy the bonded indebtedness obligations which will be due and payable during said district's next ensuing fiscal year, if the board of trustees fails to certify such an amount to the board of county commissioners as required by section
23-71-517
, the board of county commissioners, nevertheless, shall levy upon the appropriate taxable property of said district a tax in addition to the taxes levied for other purposes in an amount sufficient to pay all installments of principal and interest of said bonds that shall become due during the next ensuing fiscal year or, if said bonds do not become due and payable in series at different times, in an amount sufficient to pay all installments of interest then to become due and the aforesaid portion of principal.
(3)
The amount certified pursuant to section
23-71-517
and the rate of the tax levy required by this section shall be sufficient to cover any deficiency which may occur by reason of delinquent payment of taxes.
(4)
The county treasurer shall not collect any fee on the moneys received by virtue of a tax levied pursuant to this section or by virtue of his office having been designated as the place of payment or optional place of payment for bonds issued under this part 5 or under part 6 of this article, nor shall he collect any fee on any moneys received from any other source to pay bonds or interest thereon.
L. 75: Entire article added, p. 773, § 1, effective July 1. L. 86: (1) and (2) amended, p. 865, § 55, effective July 1.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-520 - Place of payment

(1)
The board of trustees is authorized to designate the office of the county treasurer of the county in which the headquarters of such district is situated as the place of payment or optional place of payment of the principal of or interest on any bonds issued by any such district or to designate any commercial bank or trust company as the place of payment or optional place of payment of the principal of or interest on any bonds issued by any such district, and the commercial bank or trust company so designated may be located either within or without this state.
(2)
It is the duty of the board of trustees to cause sufficient moneys from said tax levy or refunding escrow account to be placed from time to time at the place of payment, or optional place of payment, designated on said bonds in an amount to satisfy the principal and interest obligations of said bonds as the same may become due and payable from time to time. It is the duty of the treasurer of said board to pay or cause to be paid the obligations of said bonds as the same may become due and payable, upon presentation of the bonds and coupons respectively evidencing such obligations, from any moneys to the credit of the appropriate account available for that purpose.
L. 75: Entire article added, p. 774, § 1, effective July 1. L. 86: Entire section amended, p. 866, § 57, effective July 1.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-521 - Registration of bonds

When any district issues bonds under the provisions of this part 5, the board of trustees may make and enter in its record a request that the county clerk and recorder of the county wherein the headquarters of such district is situated register the bonds in a book to be kept by him for that purpose. When so registered, the legality thereof shall not be open to contest by such district, or any person whomsoever, for any reason whatever. A certified copy of the order of the board of trustees, so made and entered of record, shall be furnished to the said county clerk and recorder by the said board, and, thereupon, it shall be his duty to register said bonds, noting the name of the district and the amount, the date of issuance and maturity, and the rate of interest of said bonds. He shall receive a fee of twenty-five dollars for registering each such issue.
L. 75: Entire article added, p. 774, § 1, effective July 1. L. 86: Entire section amended, p. 867, § 58, effective July 1.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-522 - Changes in boundaries - liability

(1)
Nothing in this part 5 or in any other provision of law shall release the taxable property within a district which incurred bonded indebtedness from liability for its proportionate share of the outstanding obligations thereof.
(2)
The taxable property located within the territory of a district which is dissolved shall be liable for its proportionate share of the bonded indebtedness incurred by the district.
(3)
The taxable property of a district which is detached and annexed shall be liable for its proportionate share of the bonded indebtedness previously incurred by the annexing district.
L. 75: Entire article added, p. 775, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-523 - Validation

All outstanding bonds and all acts and proceedings had or taken, or purportedly had or taken, prior to July 1, 1964, by or on behalf of any district under law or under color of law preliminary to and in the authorization, execution, sale, issuance, and payment of all such bonds are validated, ratified, approved, and confirmed, notwithstanding any lack of power or authority or otherwise, other than constitutional, and notwithstanding any defects and irregularities, other than constitutional, in such bonds, acts, and proceedings and in such authorization, execution, sale, issuance, and payment, including, without limiting the generality of the foregoing, such acts and proceedings appertaining to bonds, all or any part of which have not been issued nor purportedly issued.
L. 75: Entire article added, p. 775, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-524 - Prior obligations not impaired

Nothing in this part 5 shall impair the obligations of any bonds, or the refunding thereof, issued by a school district prior to July 1, 1964, or otherwise invalidate any such bond or the obligations or refunding thereof.
L. 75: Entire article added, p. 775, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-525 - Public disclosure of terms of sale

(1)
When bonds are sold, the board of trustees of the district selling the same shall cause to be prepared and filed with the state board for community colleges and occupational education, within ten days after said sale, a report setting forth a description of the bond issue, the applicable interest rate, including the net effective interest rate, any other terms of the sale, and any applicable statistical, comparative bond market data, ratings, and indices relative to prevailing market conditions prior to and at the time of said sale and explaining the reasons why it was necessary, if it was, that the bonds be sold at a negotiated sale instead of by public competitive bidding. The state board for community colleges and occupational education may request additional information from the district or from the purchaser of the bonds regarding terms of the sale.
(2)
One or more copies of said report shall be retained on file at the administrative headquarters of the district.
L. 75: Entire article added, p. 775, § 1, effective July 1. L. 86: (1) amended, p. 867, § 59, effective July 1.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-526 - Validation

All elections and all acts and proceedings had or taken, or purportedly had or taken, prior to June 2, 1971, by or on behalf of any district, under law or under color of law, preliminary to and in the holding and canvass of all elections are validated, ratified, approved, and confirmed, notwithstanding any lack of power, authority, or otherwise and notwithstanding any defects or irregularities in such elections, acts, and proceedings.
L. 75: Entire article added, p. 775, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › EDUCATIONAL CENTERS AND LOCAL DISTRICT COLLEGES (§§ 23-70-101 — 23-73-101) › Article 71 - LOCAL DISTRICT COLLEGES (§§ 23-71-101 — 23-71-713) › Part 5 - BONDED INDEBTEDNESS (§§ 23-71-501 — 23-71-527) › Section 23-71-527 - Validation - effect - limitations

(1)
All bonds issued and other contracts, leases, or agreements executed by districts, all district bond elections held and carried, and all acts and proceedings had or taken prior to July 1, 1973, by or on behalf of such districts, preliminary to and in the authorization, execution, sale, and issuance of all bonds, the authorization and execution of all other contracts, leases, or agreements, and the exercise of other powers in section
23-71-504
are hereby validated, ratified, approved, and confirmed, notwithstanding any defects and irregularities, other than constitutional, in such bonds, acts, and proceedings, in such authorization, execution, sale, and issuance, and in such exercise of powers; and such bonds and other contracts, leases, or agreements are and shall be binding, legal, valid, and enforceable obligations of the district to which they appertain in accordance with their terms and their authorization proceedings.
(2)
This section shall operate to supply such legislative authority as may be necessary to accomplish the validations provided and authorized in this section but shall be limited to validations consistent with all provisions of applicable law in effect at the time of such action or other matter. This article shall not operate to validate any action or other matter the legality of which is being contested or inquired into in any legal proceedings pending and undetermined prior to July 1, 1973, nor to validate any action or other matter which has been determined in any legal proceedings prior to July 1, 1973, to be illegal, void, or ineffective.
L. 75: Entire article added, p. 776, § 1, effective July 1.