2020 Colorado Revised Statutes
Title 37 - Water And Irrigation
Article 26. Refunding Bonds
Section 37-26-109. District to file verified return - decree.
(1) After the expiration of ninety days from the date of the first publication of said notice, said district shall file in the proceeding in said district court its verified return of its acts under the order of the court theretofore made, attaching thereto affidavits of the printers or publishers of said newspapers of the publication of said notice in three newspapers.
Thereupon said court shall forthwith hear said cause and shall enter a decree of courtadjudging that all owners and holders of said bonds, or interest coupons to be retired or refunded by said plan and proceeding of the district, who have not within ninety days after the date of the first publication of said notice filed in said court their written dissent and objections to the proceedings have consented that their said bonds or interest coupons be retired or refunded under the proposed plan. In the decree the court shall direct the officers of said district to deposit with the Colorado water conservation board, as trustee for the persons entitled thereto, the pro rata part of the cash or refunding bonds which, under said settlement, belongs to the holders of said bonds, claims for interest, or interest coupons whose consent was so obtained by said court proceedings.
Said decree shall further provide that, upon the payment of said money or bonds orinterest coupons to the Colorado water conservation board as trustee, said bonds or interest coupons so held by said holders shall be deemed paid and no longer an obligation of said district and that, upon the surrender to the Colorado water conservation board of said bonds, together with the unpaid interest coupons belonging to same, the Colorado water conservation board shall pay on demand to said holders their pro rata part of the moneys or bonds so deposited with it as trustee and shall mark said bonds canceled and deliver same to the drainage district.
Source: L. 33: p. 457, § 7. CSA: C. 57, § 103. CRS 53: § 47-7-9. C.R.S. 1963: § 477-9. L. 91: (2) and (3) amended, p. 892, § 22, effective June 5.
