reglab/statecodes huggingface dataset:
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 20 - TAXATION AND FINANCE (§§ 31-20-101 — 31-20-407) › Part 1 - TAXATION AND ASSESSMENT COLLECTION (§§ 31-20-101 — 31-20-107) › Section 31-20-105 - Municipality may certify delinquent charges

Any municipality, in addition to the means provided by law, if by ordinance it so elects, may cause any or all delinquent charges, assessments, or taxes made or levied to be certified to the treasurer of the county and be collected and paid over by the treasurer of the county in the same manner as taxes are authorized to be by this title.
L. 75: Entire title R&RE, p. 1127, § 1, effective July 1.
This section is similar to former § 31-20-105 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 20 - TAXATION AND FINANCE (§§ 31-20-101 — 31-20-407) › Part 1 - TAXATION AND ASSESSMENT COLLECTION (§§ 31-20-101 — 31-20-107) › Section 31-20-107 - Municipality to pay share of county expenses

The governing body of said municipality shall make in each year such allowance to be paid out of the general fund to the county as shall be a reasonable and just compensation for the extra labor imposed by this part 1 and shall also make an allowance, to be paid out of the general fund to the county in which said municipality is located, for the municipality's proportion of the expense of advertising the sale of lands for delinquent taxes in each year, the amount to be certified to the governing body by the county clerk and recorder of the proper county.
L. 75: Entire title R&RE, p. 1128, § 1, effective July 1.
This section is similar to former § 31-20-107 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 20 - TAXATION AND FINANCE (§§ 31-20-101 — 31-20-407) › Part 2 - FINANCE - GENERAL (§§ 31-20-201 — 31-20-202) › Section 31-20-201 - Fiscal procedures - budgeting - appropriations

The provisions of part 1 of article
1
of title
29
, C.R.S., shall govern fiscal procedures, budgeting, and appropriations of towns and cities organized under this title.
L. 75: Entire title R&RE, p. 1129, § 1, effective July 1.
This section is similar to former § 31-20-201 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 20 - TAXATION AND FINANCE (§§ 31-20-101 — 31-20-407) › Part 2 - FINANCE - GENERAL (§§ 31-20-201 — 31-20-202) › Section 31-20-202 - Publication - penalty

(1)
It is the duty of the governing body of each city and town, except cities over ten thousand population, those operating under special charters, and those which have determined by election pursuant to subsection (1.5) of this section not to publish, to publish such of their proceedings as relate to the payment of bills, stating for what the same are allowed, the name of the person to whom allowed, and to whom paid. They shall also publish a statement concerning all contracts awarded and rebates allowed.
(1.5)
Any city or town subject to this section may determine at a regular or special election not to publish their proceedings relating to payment of bills and statements concerning their contracts. However, no city or town shall call a special election for the sole purpose of determining whether the city or town shall publish their proceedings relating to payment of bills and statements concerning their contracts. Any city or town whose citizens elect not to publish may provide an alternative for distribution of the information.
(2)
Such publication shall be made within twenty days after the adjournment of each regular or special meeting in a newspaper of general circulation published in the city or town where such meeting is held. If there is no reliable newspaper published within said city or town, said publication shall be made in some newspaper of general circulation nearest to said city or town within the county and the clerk shall furnish copy of such proceedings for publication.
(3)
Any mayor, member of the governing body, or clerk who fails or refuses to make such publication shall be subject to a fine of not less than twenty-five dollars nor more than three hundred dollars and the costs of the suit for each offense; except that these penalties do not apply to the officials of any city or town which has elected pursuant to subsection (1.5) of this section not to make such publication.
L. 75: Entire title R&RE, p. 1129, § 1, effective July 1. L. 92: (1) and (3) amended and (1.5) added, p. 1054, § 4, effective 1/1/1993.
This section is similar to former §§ 31-20-202 to 31-20-204 as they existed prior to 1975.
For duty of towns and cities to have an annual audit, see part 6 of article 1 of title 29 .
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 20 - TAXATION AND FINANCE (§§ 31-20-101 — 31-20-407) › Part 3 - FINANCE - TREASURER (§§ 31-20-301 — 31-20-307) › Section 31-20-301 - Bond of treasurer - waiver - duties

(1)
The treasurer shall give a bond to the city or town in its corporate name with good and sufficient sureties, to be approved by vote of the governing body in such sum as it requires, conditioned on the faithful performance of his duties as treasurer of such city or town so long as he shall serve as such treasurer and requiring that, when he vacates such office, he will turn over and deliver to his successor all moneys, books, papers, property, or things belonging to such city or town and remaining in his charge as such treasurer. The governing body of the city or town may waive the requirement of a bond.
(2)
The treasurer shall:
(a)
Receive all moneys belonging to the city or town and shall keep his books and accounts in such manner as may be prescribed by ordinance. Such books and accounts shall always be subject to the inspection of any member of the governing body.
(b)
Keep a separate account of each fund or appropriation and the debits and credits belonging thereto;
(c)
Give every person paying money into the treasury a receipt therefor specifying the date of payment and upon what account paid, and he shall also file statements of such receipts with the city or town clerk on the date of his monthly report;
(d)
Render an account to the governing body or such officer as may be designated by ordinance, at the end of each month and more often if required, showing the state of the treasury at the date of such account and the balance of money in the treasury. He shall also accompany such accounts with a statement of all moneys received into the treasury and on what account during the preceding month, together with all warrants redeemed and paid by him. Said warrants, with any vouchers held by the treasurer, shall be delivered to the clerk and filed with his account in the clerk's office upon every day of such statement. He shall return all warrants paid by him stamped or marked "paid". He shall keep a register of all warrants redeemed and paid, which shall describe such warrants and show the date, amount, number, the fund from which paid, and the name of the person to whom and when paid.
L. 75: Entire title R&RE, p. 1129, § 1, effective July 1. L. 89: (1) amended, p. 1293, § 17, effective April 6.
This section is similar to former §§ 31-20-301 to 31-20-305 as they existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 20 - TAXATION AND FINANCE (§§ 31-20-101 — 31-20-407) › Part 3 - FINANCE - TREASURER (§§ 31-20-301 — 31-20-307) › Section 31-20-302 - Penalty for using municipal funds

The treasurer is expressly prohibited from using, either directly or indirectly, the municipal money or warrants in his custody and keeping them for his own use or benefit or that of any other person. Any violation of this provision shall subject him to immediate removal from office by the governing body which is authorized to declare said office vacant, in which case his successor shall be appointed and shall hold office for the remainder of the unexpired term of such officer so removed.
L. 75: Entire title R&RE, p. 1130, § 1, effective July 1.
This section is similar to former § 31-20-306 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 20 - TAXATION AND FINANCE (§§ 31-20-101 — 31-20-407) › Part 3 - FINANCE - TREASURER (§§ 31-20-301 — 31-20-307) › Section 31-20-304 - Reports - annual account - publication

The treasurer shall report to the governing body, as often as required, a full and detailed account of all receipts and expenditures of the city or town as shown by his books up to the time of said report. Annually, by March 1 after the close of the fiscal year, he shall make out and file with the clerk a full and detailed account of all such receipts and expenditures and of all his transactions as such treasurer during the preceding fiscal year and shall show in such account the state of the treasury at the close of the fiscal year, which account the clerk shall immediately cause to be published in a newspaper printed in such city or town if there is one and, if not, by posting the same in a public place in the clerk's office.
L. 75: Entire title R&RE, p. 1131, § 1, effective July 1.
This section is similar to former § 31-20-308 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 20 - TAXATION AND FINANCE (§§ 31-20-101 — 31-20-407) › Part 3 - FINANCE - TREASURER (§§ 31-20-301 — 31-20-307) › Section 31-20-305 - Collector to keep warrants - books - pay over weekly - receipt

It is the duty of the collector, if anyone except the treasurer is specially appointed, or the person acting in that capacity to preserve all warrants returned into his hands, and he shall keep such books and his accounts in such manner as the governing body prescribes. Such warrants, books, and all papers pertaining to his office at all times shall be open to the inspection of and subject to the examination of the mayor, any member of the governing body, or any committee thereof. He shall pay over to the treasurer weekly, and more often if required by the governing body, all moneys collected by him, taking such treasurer's receipt therefor, which receipt he shall immediately file with the clerk. The clerk, at the time of filing or on demand, shall give such collector a copy of any such receipt so filed.
L. 75: Entire title R&RE, p. 1131, § 1, effective July 1.
This section is similar to former § 31-20-309 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 20 - TAXATION AND FINANCE (§§ 31-20-101 — 31-20-407) › Part 3 - FINANCE - TREASURER (§§ 31-20-301 — 31-20-307) › Section 31-20-306 - Collector to report - annual statement - publication

The collector shall make a written report to the governing body, or any officer designated by it, of all moneys collected by him, the account whereon collected, or of any other matter connected with his office when required by the governing body or by any ordinance of the town or city. He shall also annually, by March 1 after the close of the fiscal year, file with the clerk a statement of all moneys collected by him during the year, the particular warrant, special assessment, or account on which collected, the balance of moneys uncollected on all warrants in his hands, and the balance remaining uncollected at the time of the return on all warrants which he returned during the preceding fiscal year to the clerk. The clerk shall publish or post the same as required to be done by section
31-20-304
in regard to the annual report of the treasurer.
L. 75: Entire title R&RE, p. 1132, § 1, effective July 1.
This section is similar to former § 31-20-310 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 20 - TAXATION AND FINANCE (§§ 31-20-101 — 31-20-407) › Part 3 - FINANCE - TREASURER (§§ 31-20-301 — 31-20-307) › Section 31-20-307 - Keeping moneys - inspection of books - paying over

The collector is expressly prohibited from keeping the moneys of the city or town in his hands or in the hands of any person for his use beyond the time prescribed for the payment of the same to the treasurer. Any violation of this provision will subject him to immediate removal from office. All the city or town collector's papers, books, warrants, and vouchers may be examined at any time by the mayor, clerk, or any member of the governing body. The collector shall pay over every two weeks, or more often if the governing body so directs, all money collected by him from any persons or associations to the treasurer taking his receipt therefor in duplicate, one of which receipts he shall at once file in the office of the clerk.
L. 75: Entire title R&RE, p. 1132, § 1, effective July 1.
This section is similar to former § 31-20-311 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 20 - TAXATION AND FINANCE (§§ 31-20-101 — 31-20-407) › Part 4 - FINANCE - WARRANTS (§§ 31-20-401 — 31-20-407) › Section 31-20-401 - Warrants signed - countersigned - fund

All warrants drawn upon the treasurer shall be signed by the mayor and countersigned by the clerk and shall state the particular fund or appropriation to which the same is chargeable and the person to whom payable. No money shall be drawn except as provided in this part 4; except that the governing body of a municipality may provide for the disbursement of money by check in lieu of by warrant.
L. 75: Entire title R&RE, p. 1132, § 1, effective July 1. L. 79: Entire section amended, p. 1187, § 1, effective May 18.
This section is similar to former § 31-20-401 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 20 - TAXATION AND FINANCE (§§ 31-20-101 — 31-20-407) › Part 4 - FINANCE - WARRANTS (§§ 31-20-401 — 31-20-407) › Section 31-20-402 - Funds - how used

All moneys received on any special assessment shall be held by the treasurer as a special fund to be applied to the payment of the improvement for which the assessment was made. Said money shall be used for no purpose whatever other than to reimburse the city or town for money expended for such improvement. All moneys received for account of the general fund shall be held by the treasurer in the general fund and shall be used for no purpose other than that for which they were appropriated, collected, or received except to reimburse any special fund to which the general fund may be indebted.
L. 75: Entire title R&RE, p. 1132, § 1, effective July 1.
This section is similar to former § 31-20-402 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 20 - TAXATION AND FINANCE (§§ 31-20-101 — 31-20-407) › Part 4 - FINANCE - WARRANTS (§§ 31-20-401 — 31-20-407) › Section 31-20-403 - Warrant endorsed when no funds - new warrant

When a city or town warrant is received by the treasurer or collector and there is no money in the treasury to pay the same, he is directed to endorse on it the amount for which it was received and the date thereof, and from that date the warrant is to be regarded as canceled and cannot be reissued; but when the warrant amounts to more than is to be paid by the person presenting it, the treasurer or collector shall give him a certificate of the balance due him, which certificate, on presentation to the board authorized to audit claims for the city or town, entitles the holder to receive a new warrant for the amount specified therein.
L. 75: Entire title R&RE, p. 1133, § 1, effective July 1.
This section is similar to former § 31-20-403 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 20 - TAXATION AND FINANCE (§§ 31-20-101 — 31-20-407) › Part 4 - FINANCE - WARRANTS (§§ 31-20-401 — 31-20-407) › Section 31-20-404 - Registry of orders - contents - inspection

Every treasurer of any city or town shall keep in his office a book, to be called the registry of city or town orders, in which shall be entered, at the date of the presentation thereof and without any interval or blank line between any such entry and the one preceding it, every city or town order, warrant, or other certificate of such town or city indebtedness presented to such town or city treasurer at any time for payment, whether the same is paid at the time of presentation or not, the number and date of such order, warrant, or certificate, the amount, the date of presentation, the name of the person presenting the same, and the particular fund, if any, upon which the order is drawn. Every such registry of city or town orders shall be open at all reasonable hours to the inspection and examination of any person desiring to inspect or examine the same.
L. 75: Entire title R&RE, p. 1133, § 1, effective July 1.
This section is similar to former § 31-20-404 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 20 - TAXATION AND FINANCE (§§ 31-20-101 — 31-20-407) › Part 4 - FINANCE - WARRANTS (§§ 31-20-401 — 31-20-407) › Section 31-20-405 - Order warrants paid

Every fund in the hands of any treasurer of any such city or town of this state for disbursement shall be paid out in the order in which the orders drawn thereon, payable out of the same, are presented for payment.
L. 75: Entire title R&RE, p. 1133, § 1, effective July 1.
This section is similar to former § 31-20-405 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 20 - TAXATION AND FINANCE (§§ 31-20-101 — 31-20-407) › Part 4 - FINANCE - WARRANTS (§§ 31-20-401 — 31-20-407) › Section 31-20-406 - Redemption of warrants

When the treasurer of any city or town has any city or town funds on hand in cash to the amount of five hundred dollars or over, it is his duty to immediately apply all such funds to the redemption of an equal amount of such outstanding city or town warrants, certificates, or orders, with the interest due thereon, as may be entitled to a preference as to payment according to the order of time in which they were previously presented to the treasurer of such city or town, as evidenced by the registry of the orders of such city or town kept in his office as provided by law. For this purpose, he shall cause to be advertised for thirty days in some newspaper published in or nearest such city or town a notice that he will redeem such certain city or town orders, certificates, or warrants with interest due thereon, stating their number and amounts on presentation at the treasury of such city or town, and that, at the expiration of thirty days from the date of such notice, such orders, certificates, or warrants shall cease to bear interest.
L. 75: Entire title R&RE, p. 1133, § 1, effective July 1.
This section is similar to former § 31-20-406 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 20 - TAXATION AND FINANCE (§§ 31-20-101 — 31-20-407) › Part 4 - FINANCE - WARRANTS (§§ 31-20-401 — 31-20-407) › Section 31-20-407 - Neglect in keeping register or paying - penalty

Any city or town treasurer, or city or town treasurer's deputy, who fails or neglects to keep such registry or who fails or neglects to register any warrant or certificate of indebtedness of such city or town as is entitled to registry or neglects or refuses to pay such warrants or certificates in order of payments, there being then money in the treasury applicable to the payment thereof or from which the same ought to be paid, commits a class 2 misdemeanor.
Amended by 2021 Ch. 462, § 542, eff. 3/1/2022.
L. 75: Entire title R&RE, p. 1133, § 1, effective July 1. L. 2021: Entire section amended, (SB 21-271), ch. 3256, p. 3256, § 542, effective 3/1/2022.
(1) This section is similar to former § 31-20-407 as it existed prior to 1975.
(2) Section 803(2) of chapter 462 (SB 21-271), Session Laws of Colorado 2021, provides that the act changing this section applies to offenses committed on or after March 1, 2022.
2021 Ch. 462, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 21 - BONDS (§§ 31-21-101 — 31-21-407) › Part 1 - FUNDING - FLOATING DEBT (§§ 31-21-101 — 31-21-107) › Section 31-21-101 - Definitions

As used in this part 1, unless the context otherwise requires:
(1)
"Floating indebtedness" means all obligations of the municipality to pay money, of whatever kind or character, except indebtedness evidenced by outstanding negotiable interest-bearing bonds of the municipality.
L. 75: Entire title R&RE, p. 1134, § 1, effective July 1.
This section is similar to former § 31-21-101 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 21 - BONDS (§§ 31-21-101 — 31-21-407) › Part 1 - FUNDING - FLOATING DEBT (§§ 31-21-101 — 31-21-107) › Section 31-21-102 - Funding bonds - determination of indebtedness

The governing body of any municipality may issue negotiable coupon bonds, to be denominated funding bonds, for the purpose of funding any of the legal floating indebtedness of such municipality existing at any time. The specific indebtedness to be funded and the amount of such funding bonds to be issued under the provisions of this part 1 shall first be determined by such governing body and a certificate of such determination shall be made and entered in the records of the municipality prior to the issuance of said funding bonds. Nothing in this part 1 shall be construed to repeal or amend any law limiting the indebtedness of municipalities.
L. 75: Entire title R&RE, p. 1134, § 1, effective July 1.
This section is similar to former § 31-21-102 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 21 - BONDS (§§ 31-21-101 — 31-21-407) › Part 1 - FUNDING - FLOATING DEBT (§§ 31-21-101 — 31-21-107) › Section 31-21-103 - Bond election - judgments

(1)
Whenever such governing body deems it expedient to issue funding bonds under the provisions of this part 1, it shall direct, by ordinance, that the question be submitted at a regular election in the manner provided for authorization of other bonded indebtedness in section
31-15-302(1)(d)
. At any election held under the provisions of this part 1, the question of authorizing the funding of all or any part of the floating indebtedness of the city or town may be submitted as one question for determination, irrespective of the form or date of such indebtedness. The election shall be conducted as nearly as possible in conformity with the provisions of the "Colorado Municipal Election Code of 1965". The election notice shall specify, in addition to the time and places for holding said election, the qualifications for persons to vote on such question, the amount of the indebtedness to be funded, and the amount of funding bonds proposed to be issued and the rate of interest they shall bear. At such election the ballots or voting machine tabs shall contain the words "For the Funding Bonds" and "Against the Funding Bonds".
(2)
No election shall be necessary to authorize the governing body to issue bonds for the purpose of funding indebtedness in the form of a valid subsisting judgment against the municipality.
L. 75: Entire title R&RE, p. 1134, § 1, effective July 1.
This section is similar to former § 31-21-103 as it existed prior to 1975.
For "Colorado Municipal Election Code of 1965", see article 10 of this title.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 21 - BONDS (§§ 31-21-101 — 31-21-407) › Part 1 - FUNDING - FLOATING DEBT (§§ 31-21-101 — 31-21-107) › Section 31-21-104 - Ordinance - form and maturity of bonds

(1)
If the governing body determines to issue funding bonds for the purpose of paying and discharging any valid and subsisting judgment against the municipality or if, upon canvassing the vote cast at any election held under the provisions of this part 1, it is determined by the governing body that a majority of the votes cast upon the question submitted are for funding, the governing body shall make such determination a part of the official records of the municipality, and the governing body shall immediately thereafter adopt and make a law of the municipality an ordinance which shall not be subject to the referendum provisions of any law providing for the issue of said funding bonds in accordance with the provisions of this part 1. Such ordinance shall fix the date of said funding bonds, shall designate the denominations thereof, the rate of interest, the maturity date which shall not be more than twenty-five years from the date of said funding bonds, the place of payment, within or without the state of Colorado, of both principal and interest, and shall prescribe the form of said funding bonds.
(2)
Such funding bonds shall be negotiable in form, shall recite the title of the act under which they are issued, and shall be executed in the name of the municipality, signed by the mayor, countersigned by the treasurer, with the seal of the municipality affixed thereto, and attested by the clerk. The interest accruing on such funding bonds shall be evidenced by interest coupons attached bearing the engraved facsimile signature of the treasurer of the municipality. When so executed, such coupons shall be the binding obligations of the municipality according to their import. In the adoption of said ordinance providing for the issue of such funding bonds, the governing body shall make the principal of the debt payable in substantially equal annual installments during the period, not exceeding twenty-five years, within which the debt is to be discharged. The date of the maturity of the first installment of the debt shall not be more than five years from the date of said funding bonds.
L. 75: Entire title R&RE, p. 1134, § 1, effective July 1.
This section is similar to former § 31-21-104 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 21 - BONDS (§§ 31-21-101 — 31-21-407) › Part 1 - FUNDING - FLOATING DEBT (§§ 31-21-101 — 31-21-107) › Section 31-21-105 - Disposition of bonds

All such funding bonds may be exchanged, dollar for dollar, in satisfaction of the indebtedness to be funded, or they may be sold at not less than their par value, as directed by the governing body, and the proceeds thereof shall be applied only to the purpose for which such funding bonds were issued.
L. 75: Entire title R&RE, p. 1135, § 1, effective July 1.
This section is similar to former § 31-21-105 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 21 - BONDS (§§ 31-21-101 — 31-21-407) › Part 1 - FUNDING - FLOATING DEBT (§§ 31-21-101 — 31-21-107) › Section 31-21-106 - Taxes for interest and redemption

The interest accruing on such funding bonds issued pursuant to the provisions of this part 1 prior to the time when tax levies are available therefor shall be paid out of the general revenues of the municipality. For the purpose of reimbursing such general revenues and for the payment of subsequently accruing interest, the governing body issuing such funding bonds or the proper tax assessing and collecting officers upon whom shall devolve the duty of levying and collecting municipal taxes shall levy annually a sufficient tax upon all of the taxable property in the municipality fully to discharge such interest. For the ultimate redemption of such funding bonds, there shall be levied annually such a tax upon all the taxable property in such municipality as will create a fund sufficient to discharge each annual installment of such funding bonds at the maturity thereof, which fund shall be called the redemption fund. All taxes for interest on and for the redemption of such bonds shall be paid in cash only and shall be kept by the municipal treasurer as a special fund to be used only in payment of the interest upon and for the redemption of such bonds. Such tax shall be levied and collected as other municipal taxes are levied and collected. The tax provisions for the ultimate redemption of such bonds shall be set forth in the ordinance authorizing their issue and shall set forth the years in which such taxes shall be levied for the creation of said redemption fund.
L. 75: Entire title R&RE, p. 1135, § 1, effective July 1.
This section is similar to former § 31-21-106 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 21 - BONDS (§§ 31-21-101 — 31-21-407) › Part 1 - FUNDING - FLOATING DEBT (§§ 31-21-101 — 31-21-107) › Section 31-21-107 - Ordinance irrepealable

Any ordinance authorizing an issue of funding bonds under the provisions of this part 1 and providing for the levy of taxes for the payment of the interest upon the principal of such funding bonds shall not be altered or repealed until the indebtedness thereby authorized has been fully paid.
L. 75: Entire title R&RE, p. 1135, § 1, effective July 1.
This section is similar to former § 31-21-107 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 21 - BONDS (§§ 31-21-101 — 31-21-407) › Part 2 - REFUNDING BONDED INDEBTEDNESS (§§ 31-21-201 — 31-21-213) › Section 31-21-201 - Definitions

As used in this part 2, unless the context otherwise requires:
(1)
"Net effective interest rate" of a proposed issue of refunding bonds means the net interest cost of said refunding issue divided by the sum of the products derived by multiplying the principal amount of such refunding issue maturing on each maturity date by the number of years from the date of said proposed refunding bonds to their respective maturities. The "net effective interest rate" of an outstanding issue of bonds to be refunded means the net interest cost of said issue to be refunded divided by the sum of the products derived by multiplying the principal amounts of such issue to be refunded maturing on each maturity date by the number of years from the date of the proposed refunding bonds to the respective maturities of the bonds to be refunded. 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.
(2)
"Net interest cost" of a proposed issue of refunding bonds means the total amount of interest to accrue on said refunding bonds from their date to their respective maturities less the amount of any premium above par at which said refunding bonds are being or have been sold. "Net interest cost" of an outstanding issue of bonds to be refunded means the total amount of interest which would accrue on said outstanding bonds from the date of the proposed refunding bonds to the respective maturity dates of said outstanding bonds to be refunded. 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.
(3)
Repealed.
L. 75: Entire title R&RE, p. 1136, § 1, effective July 1; (3) added, p. 1274, § 1, effective April 9. L. 89: (3) repealed, p. 1135, § 85, effective July 1.
This section is similar to former § 31-21-201 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 21 - BONDS (§§ 31-21-101 — 31-21-407) › Part 2 - REFUNDING BONDED INDEBTEDNESS (§§ 31-21-201 — 31-21-213) › Section 31-21-202 - Refunding bonds - amount

The governing body of any municipality may issue negotiable coupon bonds, to be denominated refunding bonds, for the purpose of refunding any of the bonded indebtedness of such municipality, whether due or not or which is payable at the option of such municipality, by consent of the bondholders, or by any lawful means. The amount of the refunding bonds to be issued under the provisions of this part 2 shall first be determined by the governing body, and a certificate of such determination shall be made and entered in and upon the records of the municipality prior to the issuance of said refunding bonds.
L. 75: Entire title R&RE, p. 1136, § 1, effective July 1.
This section is similar to former § 31-21-202 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 21 - BONDS (§§ 31-21-101 — 31-21-407) › Part 2 - REFUNDING BONDED INDEBTEDNESS (§§ 31-21-201 — 31-21-213) › Section 31-21-203 - Vote of electors not required

Whenever such governing body deems it expedient to issue refunding bonds under the provisions of this part 2 and the net interest cost and the net effective interest rate of the proposed issue of refunding bonds does not exceed the net interest cost and net effective interest rate of the issue of bonds to be refunded, such refunding bonds may be issued without the submission of the question of issuing such refunding bonds to a vote of the registered electors of such municipality. The issuance of bonds under this part 2 for the purpose of refunding bonds which were originally issued to supply water to such municipality shall not require approval of such electors.
L. 75: Entire title R&RE, p. 1136, § 1, effective July 1.
This section is similar to former § 31-21-203 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 21 - BONDS (§§ 31-21-101 — 31-21-407) › Part 2 - REFUNDING BONDED INDEBTEDNESS (§§ 31-21-201 — 31-21-213) › Section 31-21-204 - Vote of electors required - procedures

(1)
When such governing body deems it expedient to issue refunding bonds under the provisions of this part 2 and either the net interest cost or the net effective interest rate of the proposed issue of refunding bonds exceeds the net interest cost or the net effective interest rate, respectively, of the issue of bonds to be refunded, the governing body, by ordinance or resolution, shall submit the question of issuing said refunding bonds at a special election called and held for that purpose or at a regular election of the officers of such municipality; but bonds issued under this part 2 for the purpose of refunding bonds which were originally issued to supply water to such municipality shall not require such approval of the registered electors. An election held under this section shall be held in the manner provided for the authorization of an original bonded indebtedness in section
31-15-302(1)(d)
.
(2)
At any election held under the provisions of this part 2, the question of authorizing the refunding of all or any part of the then outstanding bonded indebtedness of the municipality may be submitted as one question for determination whether such bonds are of the same or of different issues.
(3)
The election shall be conducted as nearly as possible in conformity with the provisions of the "Colorado Municipal Election Code of 1965".
(4)
The election notice shall specify, in addition to the time and places for holding said election, the qualifications for persons to vote on such question, the amount and date of the bonds to be refunded, the amount of refunding bonds proposed to be issued, and the maximum net effective interest rate at which they may be issued.
(5)
At such election the ballots or voting machine tabs shall contain the words "For the Refunding Bonds" and "Against the Refunding Bonds".
L. 75: Entire title R&RE, p. 1136, § 1, effective July 1.
This section is similar to former § 31-21-204 as it existed prior to 1975.
For "Colorado Municipal Election Code of 1965", see article 10 of this title.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 21 - BONDS (§§ 31-21-101 — 31-21-407) › Part 2 - REFUNDING BONDED INDEBTEDNESS (§§ 31-21-201 — 31-21-213) › Section 31-21-206 - Exchange - sale - proceeds - amounts

Such refunding bonds may be exchanged dollar for dollar for the bonds to be refunded, or they may be sold at, above, or below their par value at a price such that the net effective interest rate of the issue of refunding bonds does not exceed the maximum net effective interest rate authorized. Such refunding bonds shall be in a principal amount not exceeding the principal amount of the bonds to be refunded, as directed by the governing body, and the proceeds thereof shall be applied only to the purpose for which such refunding bonds were issued. The principal amount of said refunding bonds may be the same or less than the principal amount of the bonds to be refunded if due, adequate, and sufficient provision has been made for the payment, or redemption, and retirement of said bonds to be refunded and the payment of the interest accrued thereon in accordance with this part 2.
L. 75: Entire title R&RE, p. 1138, § 1, effective July 1.
This section is similar to former § 31-21-206 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 21 - BONDS (§§ 31-21-101 — 31-21-407) › Part 2 - REFUNDING BONDED INDEBTEDNESS (§§ 31-21-201 — 31-21-213) › Section 31-21-207 - Tax for payment of refunding bonds

The interest accruing on such refunding bonds issued pursuant to the provisions of this part 2 prior to the time when the proceeds of tax levies are available therefor shall be paid out of the general revenues or any other revenues of the municipality available therefor. For the purpose of reimbursing such general revenues or other revenues and for the payment of subsequently accruing interest, the governing body issuing such refunding bonds shall certify and the board of county commissioners of the county in which the city or town is located shall levy, annually, a sufficient tax upon all the taxable property in the municipality fully to discharge such interest. For the ultimate payment or redemption of such refunding bonds, there shall be certified and levied annually such a tax upon all the taxable property in such municipality as will create a fund sufficient to pay or redeem and discharge such refunding bonds at or prior to their respective maturities. In the event the bonds to be redeemed and the interest thereon accruing would have been paid from taxes levied upon only part of the taxable property in the municipality, the taxes levied for payment or redemption of the refunding bonds and the interest accruing thereon shall be levied in the same manner and upon only the same taxable property as would have been levied for payment of the bonds to be refunded if no refunding of said bonds had been made and accomplished. As collected, all taxes levied for payment of interest on and for the payment or redemption of the principal of such bonds shall be kept by the treasurer of the municipality in a special fund to be used only in the payment of the interest upon and for the payment or redemption of the principal of such bonds. Such tax shall be levied and collected in the same manner as other municipal taxes are levied and collected. The ordinance authorizing the issuance of said bonds shall set forth the years in which such taxes shall be levied for the creation of said fund.
L. 75: Entire title R&RE, p. 1138, § 1, effective July 1.
This section is similar to former § 31-21-207 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 21 - BONDS (§§ 31-21-101 — 31-21-407) › Part 2 - REFUNDING BONDED INDEBTEDNESS (§§ 31-21-201 — 31-21-213) › Section 31-21-208 - Ordinance not to be altered

Any ordinance authorizing an issue of refunding bonds under the provisions of this part 2 and providing for the levy of taxes for the payment of the interest upon and the principal of such refunding bonds shall not be altered or repealed until the indebtedness thereby authorized has been fully paid.
L. 75: Entire title R&RE, p. 1139, § 1, effective July 1.
This section is similar to former § 31-21-208 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 21 - BONDS (§§ 31-21-101 — 31-21-407) › Part 2 - REFUNDING BONDED INDEBTEDNESS (§§ 31-21-201 — 31-21-213) › Section 31-21-209 - Consolidated city or town - refunding indebtedness of constituent portions - bonds

When any city or town consolidates with another city or town under the laws of the state of Colorado and has incurred a bonded indebtedness prior to such consolidation, such bonded indebtedness may be refunded by the consolidated city or town under the provisions of this part 2, as is provided for the refunding of other bonds in the same manner as it would have been the duty or within the power of the city council or board of trustees of the city or town which contracted such indebtedness to do had no such consolidation taken place. All the provisions of this part 2, including elections authorizing issuance of such refunding bonds, shall apply only within the former limits of the city or town which contracted such indebtedness. All refunding bonds so issued shall state in substance that they, together with interest thereon, are payable only by levies upon property situated within such limits as the same existed prior to such consolidation, unless the terms of consolidation shall provide that such refunding shall apply within the entire limits of the consolidated city or town.
L. 75: Entire title R&RE, p. 1139, § 1, effective July 1.
This section is similar to former § 31-21-209 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 21 - BONDS (§§ 31-21-101 — 31-21-407) › Part 2 - REFUNDING BONDED INDEBTEDNESS (§§ 31-21-201 — 31-21-213) › Section 31-21-210 - Combined issues - procedures

Any refunding bonds may be issued to refund one or more issues of outstanding bonds of a municipality, but no two or more issues of outstanding bonds may be refunded by a single issue of refunding bonds unless the taxable property upon which tax levies are being made for payment of each such outstanding issue of bonds is identical to the taxable property on which such levies are being made for the payment of all other outstanding bonds proposed to be refunded by such single issue of refunding bonds. In the event that two or more issues of outstanding bonds of a municipality are to be refunded by the issuance of a single issue of refunding bonds as provided in this section, the net interest cost and net effective interest rate on the bonds to be refunded shall be computed as if all of said bonds had originally been combined as a single issue aggregating the total of the smaller issues, and the results of this computation shall be compared with the net interest cost and net effective interest rate on the whole of the single refunding issue for purposes of determining the necessity of submitting the question of issuing such refunding bonds to a vote of the registered electors of the municipality.
L. 75: Entire title R&RE, p. 1139, § 1, effective July 1.
This section is similar to former § 31-21-210 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 21 - BONDS (§§ 31-21-101 — 31-21-407) › Part 2 - REFUNDING BONDED INDEBTEDNESS (§§ 31-21-201 — 31-21-213) › Section 31-21-212 - Registration of refunding bonds

Whenever any municipality issues refunding bonds under the provisions of this part 2, the governing body shall direct that the clerk of said municipality, as a part of said clerk's duties, register said bonds in a book to be kept by him for that purpose, and, when so registered, the legality thereof shall not be open to contest by such municipality, or by any other person or corporation in behalf of such municipality for any reason whatever. It is the duty of the clerk to register said bonds, noting the principal amount, the date of issuance and maturity, and the rate of interest of said bonds.
L. 75: Entire title R&RE, p. 1141, § 1, effective July 1.
This section is similar to former § 31-21-212 as it existed prior to 1975.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 21 - BONDS (§§ 31-21-101 — 31-21-407) › Part 2 - REFUNDING BONDED INDEBTEDNESS (§§ 31-21-201 — 31-21-213) › Section 31-21-213 - Redemption of refunding bonds prior to maturity - procedures

(1)
If any bonds of a municipality, either bonds issued for refunding purposes or bonds issued for other purposes as set forth in section
31-15-302(1)(d)
, are made redeemable prior to their respective maturities and the governing body determines that any part of such bonds should be called for redemption according to their terms, it is the duty of the clerk of such municipality, as soon as the governing body has authorized the redemption, to cause notice to be given of such action.
(2)
Such notice shall be given by publication at least once in a newspaper customarily used by said municipality for legal notices at least thirty days prior to the date on which said bonds are to be redeemed and paid. Such notice shall contain the date and place on which said bonds shall be redeemed and paid, shall describe the bonds by their legal designation, date, number, and amount, and shall state that after the date so fixed for redemption and payment the interest on said bonds shall cease.
(3)
After the date so fixed for redemption and payment, the bonds so called for redemption and payment shall cease to draw interest.
L. 75: Entire title R&RE, p. 1141, § 1, effective July 1.
This section is similar to former § 31-21-213 as it existed prior to 1975.