Colo. Rev. Stat. § 30-11-407
Short-term loans for new authorities
Colorado · Colorado Revised Statutes Title 30 — Government - County · Status: effective
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- Colo. Rev. Stat. § 30-11-407, Short-term loans for new authorities, Colorado, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2310349
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Full text
In order to provide funds for a new authority to operate prior to the receipt of revenues from property taxes, an authority may contract with any person, corporation, association, or company for a short-term loan, not to exceed the amount necessary for such operation, and such loan shall be fully paid within twelve months; but subsequent short-term loans may be made in each budget year in smaller amounts and shall be paid within six months. Such subsequent loans shall be scheduled to liquidate the accumulated debt fully in a period not to exceed ten years after the date of the first loan. Interest paid on such loans shall be exempt from taxation by the state or any political subdivision thereof.