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<br />(\ , <br /> <br />. <br /> <br />THE FISCAL RESPONSIBILITY ACT <br /> <br />Be It Enacted By the People of the State of Colorado: <br /> <br />Article 48 of title 37, Colorado Revised Statutes, is ainended BY THE ADDITION OF A <br />NEW SECTION to read: <br /> <br />37-48-103.7. Elections - voter approval for obtaining loans. PRIOR TO <br />OBTAINING ANY LOAN, THE BOARD OF DIRECTORS SHALL CALL FOR AN ELECTION <br />TO BE HELD IN THE COUNTIES OF CONEJOS, ALAMOS A, RIO GRANDE, MINERAL <br />AND SAUGUACHE FOR THE PURPOSE OF OBTAINING VOTER APPROVAL OF THE <br />LOAN. A MAJORITY OF THE REGISTERED ELECTORS IN SUCH COUNTIES MUST <br />VOTE IN FAVOR OF THE LOAN BEFORE THE BOARD OF DIRECTORS IS AUTHORIZED <br />. TO OBTAIN SUCH LOAN. <br /> <br />. <br />