Colorado § 36-5-112 - Terms of sale.

§ 36-5-112. Terms of sale.

On all sales of state lands, the terms of payment shall be as follows: Not less than twenty-five percent of the purchase price shall be paid in cash at the time of the sale, and the balance shall be made payable upon an amortization plan based on interest at not less than four percent per annum and providing for the payment of semiannual installments sufficient in amount to extinguish such balance at the end of thirty-three years from date of sale; but, in cases where the total improvements on the land sold are in excess of forty percent of the total value of the land, the state board of land commissioners may, in its discretion, reduce the amount which shall be paid in cash at the time of the sale to ten percent of the purchase price. The purchaser shall have the privilege, on any installment date, of paying on his original obligation, in addition to the installment then due, the sum necessary to reduce the original obligation by one hundred dollars or any multiple thereof, but in such event, except when any such additional payment is sufficient to discharge the purchaser's entire debt, the balance remaining due from the purchaser shall remain amortized for the remainder of said thirty-three-year period on the same interest basis, with adjusted semiannual installments. Any certificates of purchase outstanding on lands sold on or before May 2, 1929, may, when the state board of land commissioners deems it advisable, and upon application of the holder thereof, be converted to certificates of purchase on the amortization plan. The board shall have the right to charge such fees under this article as it may deem reasonable.

Source: L. 29: p. 520, § 1. CSA: C. 134, § 112. CRS 53: § 112-5-12. L. 55: p. 685, § 1. C.R.S. 1963: § 112-5-12.

ARTICLE 6

Purchase by Veterans

36-6-101 and 36-6-102. (Repealed)

Source: L. 96: Entire article repealed, p. 564, § 26, effective April 24.

Editor's note: This article was numbered as article 2 of chapter 112, C.R.S. 1963. For amendments to this article prior to its repeal in 1996, consult the Colorado statutory research explanatory note and the table itemizing the replacement volumes and supplements to the original volume of C.R.S. 1973 beginning on page vii in the front of this volume.

Forestry

ARTICLE 7

Forestry

PART 1

STATE BOARD OF LAND COMMISSIONERS

36-7-100.3. Definitions.

36-7-101. Tree defined.

36-7-102. Trees not to be cut.

36-7-103. Disposition of timber on state lands.

36-7-104. Rules regulating sale.

36-7-105. Protection from fire.

36-7-106. Bond of person cutting trees.

36-7-107. District attorneys to prosecute.

PART 2

COLORADO STATE FOREST

36-7-201. Colorado state forest created - penalty.

36-7-202. Board to designate state forests.

PART 3

ROADLESS AREAS REVIEW TASK FORCE

36-7-301 to

36-7-304. (Repealed)

PART 4

WILDFIRE RISK REDUCTION GRANT PROGRAM

36-7-401 to

36-7-406. (Repealed)

PART 1

STATE BOARD OF LAND COMMISSIONERS