|
opposite the words expressing the voter's choice. Bonds shall not be construed to be authorized,
<br /> and none shall be issued, except upon an affirmative vote of the majority of the total voting
<br /> strength of the district.
<br /> (2) If bonds are authorized, the board of directors shall immediately cause the same to be
<br /> issued. They shall be in denominations of not less than one hundred dollars and not more than
<br /> one thousand dollars and shall be in the total amount and in such series and dates of maturities
<br /> and bear interest as authorized by vote of the landowners. All bonds so issued shall be numbered
<br /> consecutively beginning with the number one, shall become due in the order of their serial
<br /> numbers, shall bear interest payable semiannually evidenced by coupons attached thereto bearing
<br /> the same number as the bonds to which they are attached, and shall be registered with the county
<br /> treasurer of the county wherein is situated the office of such irrigation district, and it is the duty
<br /> of the county treasurer to keep a list of such bonds, serially, with the names and addresses of the
<br /> owners thereof, as furnished him from time to time. Such bonds may contain a provision for
<br /> redemption upon call, serially, as provided in this article, shall be in such form as prescribed by
<br /> the board of directors, and shall be signed by the president of the district, attested by the
<br /> secretary thereof, and countersigned by the district treasurer. Such bonds may be issued and the
<br /> proceeds of their sale used for the payment of the first two years' interest thereon and for any of
<br /> the several purposes of this article, except for maintenance, operation, or salaries.
<br /> (3) If a contract is proposed to be made with the United States, the question to be submitted
<br /> to the voters at such special election is whether a contract shall be entered into with the United
<br /> States. The notice of election shall state the maximum amount of money payable to the United
<br /> States for construction purposes, exclusive of penalties and interest, and the water rights and
<br /> other property, if any, to be conveyed to the United States. The ballots for such election shall
<br /> contain the words "Contract with the United States, Yes" and "Contract with the United States,
<br /> No", or words equivalent thereto.
<br /> Source: L. 21: p. 534, § 18. C.L. § 2074. L. 27: p. 455, § 1. CSA: C. 90, § 449. CRS 53: §
<br /> 149-2-18. C.R.S. 1963: § 150-2-18. L. 91: (1)amended, p. 894, § 25, effective June 5.
<br /> Am.Jur.2d. See 45 Am.Jur.2d,Irrigation, § 67.
<br /> C.J.S. See 94 C.J.S., Waters, §323.
<br /> Applied in Lapham v. Phillips, 81 Colo.449,255 P. 1100(1927).
<br /> 37-42-119. Registered bonds. (Repealed)
<br /> Source: L. 21: p. 536, § 19. C.L. § 2075. CSA: C. 90, § 450. CRS 53: § 149-2-19. C.R.S. 1963: §
<br /> 150-2-19. L. 89: (1) amended, p. 1132, § 74, effective July 1. L. 91: Entire section repealed, p. 886, §
<br /> 11, effective June 5.
<br /> 37-42-120. Additional bonds. If, after the issuance and sale of a series of bonds under this
<br /> article, it becomes necessary to authorize an additional issue or series of bonds, the same may be
<br /> authorized and sold in like manner and in accordance with the provisions of this article as to a
<br /> first issue of bonds but shall be subject to said first issue.
<br /> Source: L. 21: p. 537, § 20. C.L. § 2076. CSA: C. 90, § 451. CRS 53: § 149-2-20. C.R.S. 1963:
<br /> § 150-2-20. L. 91: Entire section amended, p. 894, § 26, effective June 5.
<br /> C.J.S. See 94 C.J.S., Waters, § 325.
<br /> 37-42-121. Sale of bonds - notice. The board of directors may sell bonds so authorized and
<br /> issued from time to time as may be necessary for district purposes, having first by resolution
<br /> declared its intention to do so and having appointed a day and hour therefor. Notice of such sale
<br /> shall be given by publishing the same for twenty days in a daily newspaper published in the city
<br /> of Denver, Colorado, and in such other newspapers as the board may designate. The notice shall
<br /> state the time and place at which sealed bids shall be received to purchase such bonds as shall be
<br /> offered, and sale shall be made to the highest responsible bidder; except that the board may reject
<br /> all offers and refuse to sell in case no responsible bid is received for ninety-five cents or more on
<br /> the dollar.
<br />
|