Colorado § 22-44-113 - Borrowing from funds.
Full text of Colorado Colorado Revised Statutes § 22-44-113 — Borrowing from funds., with citation guidance and answers to common questions.
§ 22-44-113. Borrowing from funds.
(1) A board of education may borrow unencumbered moneys from any one fund, except the bond redemption fund, for the use of another fund at any time. All moneys borrowed from a fund pursuant to this subsection (1) shall be repaid to said fund when needed to meet the obligations of said fund, and all revenues credited to the borrowing fund shall be used first to repay the loan. Any such loan shall be repaid not later than three months after the beginning of the following budget year. In the event moneys are not forthcoming from designated sources, an amount equal to the outstanding liability shall be expended from the general fund and used to repay the loan. Such amount from the general fund shall be recorded as revenue in the receiving fund.
(2) Borrowing moneys from a fund pursuant to subsection (1) of this section shall be evidenced by a resolution duly adopted by the board of education authorizing such borrowing and shall be recorded in the minutes of the meeting of the board at which adopted. A copy of said resolution shall be filed with the employee or officer who issues checks, warrants, or orders on said school district.
(3) The provisions of this section shall apply to all funds created by law or regulation or by action of a school district.
Source: L. 64: p. 624, § 13. C.R.S. 1963: § 123-32-13. L. 81: (1) amended, p. 1073, § 1, effective July 1. L. 2003: (1) amended and (3) added, p. 1285, § 5, effective July 1.
Frequently Asked Questions About Colorado § 22-44-113
What does Colorado Revised Statutes § 22-44-113 cover?
Section 22-44-113 ("Borrowing from funds.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 22-44-113?
A common citation format is "Colorado Revised Statutes § 22-44-113" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 22-44-113 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.