2020 Colorado Revised Statutes
Title 29 - Government - Local
Article 3. County and Municipality Development Revenue Bond Act
Section 29-3-105. Bonds to be special obligations.
(1) All bonds issued by a county or municipality under the authority of this article shall be special, limited obligations of the county or municipality. Except as provided in section 29-3-116, the principal of and interest on such bonds shall be payable, subject to the mortgage provisions in this article, solely out of the revenues derived from the financing, refinancing, sale, or leasing of the project with respect to which the bonds are issued.
(2) The bonds and interest coupons, if any, appurtenant thereto shall never constitute the debt or indebtedness of the county or municipality within the meaning of any provision or limitation of the state constitution, statutes, or home rule charter, and shall not constitute nor give rise to a pecuniary liability of the county or municipality or a charge against its general credit or taxing powers. Such limitation shall be plainly stated on the face of each bond.
Source: L. 67: p. 672, § 5. C.R.S. 1963: § 36-24-5. L. 73: p. 478, § 5. L. 77: (1) amended, p. 1410, § 6, effective June 20.
