Colorado § 22-30-125 - Election on assuming the existing bonded indebtedness.

§ 22-30-125. Election on assuming the existing bonded indebtedness.

(1) The committee may submit the issue of assuming the bonded indebtedness of any school district, or of any portion thereof, existing at the time of inclusion in the proposed new school district or proposed to be included in a detachment and annexation to the eligible electors of such new or annexing school district. If the committee so decides, the question shall be submitted at the special school district organization election.

(2) (a) The election shall be held pursuant to the provisions of section 22-30-104. The outstanding bonded indebtedness incurred by more than one school district, or the proportionate shares thereof, may be assumed simultaneously by a new school district under the provisions of this section through the submission of a single ballot, but voting on separate amounts or alternative voting on one ballot shall be prohibited.

(b) If one or more whole school districts have been included in a new school district, the ballot shall contain a statement of the amount or amounts of outstanding bonded indebtedness proposed to be assumed by the new school district.

(c) If only a portion of the territory of an old school district has been included in a new school district, the ballot shall contain a statement of the proportionate share of the outstanding bonded indebtedness incurred by said old school district to be assumed by the new school district as set forth in the plan of organization.

(d) If printed ballots are used, the ballot shall be printed or typewritten and shall contain the words "official ballot", below which shall be set forth the amount of outstanding bonded indebtedness to be assumed, or that a proportional share of such amount is proposed to be assumed, as the case may be, by the new or annexing school district, the name and number of each old school district that incurred said bonded indebtedness, and, if the ballot contains more than one amount to be assumed, the total of such amounts.

(3) If a majority of the eligible electors voting on the proposed question vote for the assumption of the bonded indebtedness, the public officials shall perform the duties set forth in sections 22-42-117 to 22-42-121 that are necessary to assure that the assumed bonded indebtedness is paid in the manner provided by law for the paying of any bonded indebtedness that the new or annexing school district contracts.

Source: L. 92: Entire article R&RE, p. 511, § 1, effective June 1. L. 94: (2)(c) amended, p. 1278, § 3, effective May 22. L. 96: (1), (2)(d), and (3) amended, p. 59, § 15, effective July 1.

Editor's note: This section is similar to former § 22-30-137 as it existed prior to 1992.

ANNOTATION

For previous submission of issue by board of education, see Hawkins v. Cline, 161 Colo. 141, 420 P.2d 400 (1966) (decided under repealed § 123-25-44, C.R.S. 1963).