All anticipation warrants issued under the provisions of this part 3 shall bear interest at a rate not exceeding a net effective interest rate to be established by the official legislative body of the governmental agency prior to the sale or issuance of such warrants. All warrants shall be executed in such a manner and be payable serially in annual installments beginning not later than two years and extending not more than twenty years from the date thereof and at such place as the governmental agency determines.
Source: L. 55: p. 260, � 5. CRS 53: � 36-20-5. L. 57: p. 315, � 1. C.R.S. 1963: � 36-19-5. L. 69: p. 233, � 1. L. 70: p. 147, � 1. L. 91: Entire section amended, p. 744, � 9, effective April 4.
30-20-306. Revenue and sinking fund - pledge of general income prohibited. The official legislative body of any governmental agency is authorized to set aside a special sinking fund in the office of the treasurer of the governmental agency for the payment of anticipation warrants authorized by and issued under the provisions of this part 3 and for the payment of interest due on such warrants; except that the general income of the governmental agency shall not be pledged for the payment of the principal of the warrants and interest thereon. The treasurer of the governmental agency shall deposit in said sinking fund all rents, royalties, fees, rates, and charges derived from or rendered by the project.
Source: L. 55: p. 260, � 6. CRS 53: � 36-20-6. L. 57: p. 316, � 1. C.R.S. 1963: � 36-19-6. L. 91: Entire section amended, p. 744, � 10, effective April 4.