Colorado § 37-47-120 - Improvement district bonds.
Full text of Colorado Colorado Revised Statutes § 37-47-120 — Improvement district bonds., with citation guidance and answers to common questions.
§ 37-47-120. Improvement district bonds.
(1) The board of directors of said district may issue as obligations of the subdistrict, not as an obligation of the southwestern water conservation district, improvement district bonds to be paid out of special assessments made by said board of directors against all lands in the subdistrict, not exceeding in the aggregate amount of ninety percent of the amount of benefits assessed against said lands and unpaid at the time of issue of said bonds. Such bonds shall contain a recital to the effect that they are issued under and in accordance with the provisions of this article as special improvement district bonds and are payable out of special assessments to be levied against the property in said subdistrict and not otherwise.
(2) Said improvement district bonds shall be signed, "Water Users' Association No. .... or Special Improvement District No. ...., of the Southwestern Water Conservation District, By .............., President", and countersigned ".............., Treasurer". Otherwise said bonds shall be in such denominations and become due at such dates, with interest at such rate, payable either annually or semiannually, but not exceeding the rate of six percent per annum, and contain such other provisions as may be fixed by the board of directors, if said provisions are not inconsistent with the terms of this article. Except as otherwise expressly modified in this article, the law relating to the form and issuance of bonds of conservancy districts under the laws of this state, particularly section 37-5-106, shall apply and govern officers of the district in the issuance and sale of said bonds, and other provisions of said law with respect to the levy of assessments for the payment of said bonds with interest, and particularly section 37-5-110, shall likewise be applicable to the bonds of a subdistrict organized under this article.
Source: L. 41: p. 881, § 17. CSA: C. 173B, § 72. CRS 53: § 149-9-17. C.R.S. 1963: § 150-8-17.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 37-47-120
What does Colorado Revised Statutes § 37-47-120 cover?
Section 37-47-120 ("Improvement district bonds.") 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 § 37-47-120?
A common citation format is "Colorado Revised Statutes § 37-47-120" (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 § 37-47-120 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.