PUB00026

• Year: 1968
• Title: Water Conservation Agencies of The State of Colorado
• CWCB Section: Water Conservation & Drought Planning
• Author: CWCB
• Description: Applicable State statutes and summary information about each water conservation district in the State of Colorado
• Publications - Doc Type: Historical

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39

such bonds as estim~ted by said board of directors shall be
included in and added to the said assessment, but the inter-
est to accrue on account of the issuance of said bonds shall
not be construed as a part of the cost of construction in
determining whether or not the expenses and cost of making
said improvement are or are not equal to or in excess of the
benefits appraised.

(3) As soon as said assessment is levied, the secretary
of the subdistrict, at. the expense thereof, Shall prepare in
duplicate an assessment of the subdistrict. It shall be in
the form of a well-bound book endorsed and named "Construc-
tion Fund Assessment Record of Water Users' Association
No. (or Special Improvement District No. ,
as the case may be) of the Colorado River Water Conservation
District." Said record shall be in the form of similar
records for conservancy districts under the laws of this
state, particularly as provided by section 29-5-4. Said as-
sessments may be paid in the manner provided by section
29-5-5, relating to conservancy districts under the laws of
this state. All proceedings provided in said sections with
respect to conservancy districts shall apply to the assess-
ments, the records thereof, and the manner of payment of
assessments of subdistricts organized under this article.
(l937) .

150-7-17. Improvement district bonds. - (1) The board of
directors of said district may issue as obligations of the
subdistrict, not as an obligation of the Colorado River water
conservation district, improvement district bonds to be paid
out of special assessments made by said board of directors
against all lands in the subdistrict, not exceeding, however,
in the aggregate principal amount of ninety per cent of the
amount of benefits assessed against said lands and unpaid at
the time of issue of said bonds. The bonds shall contain a
recital to the effect that they are issued under and in
accordance with the provisions of this article as special im-
provement district bonds and are to be payable out of special
assessments to be levied against the property in said subdis-
trict as herein provided, and not other wise. Such improve-
ment district bonds shall be signed, "Water Users' Associa-
tion No. (or Special Improvement District No.
as the case may be) of the Colorado River Water Conservation
District, By , President," and countersigned
" . Treasurer. II

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(2) Otherwise said bonds shall be in such denominations

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