Colorado § 30-11-407 - Short-term loans for new authorities.
Full text of Colorado Colorado Revised Statutes § 30-11-407 — Short-term loans for new authorities., with citation guidance and answers to common questions.
§ 30-11-407. Short-term loans for new authorities.
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.
Source: L. 69: p. 241, § 7. C.R.S. 1963: § 36-27-7.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 30-11-407
What does Colorado Revised Statutes § 30-11-407 cover?
Section 30-11-407 ("Short-term loans for new authorities.") 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 § 30-11-407?
A common citation format is "Colorado Revised Statutes § 30-11-407" (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 § 30-11-407 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.