(1) General obligation bonds shall mature within not exceeding forty years from their date or respective dates and commencing not later than the third year thereafter, in such manner as the board may determine.
(2) Special obligation bonds (other than assessment bonds) shall mature within not exceeding fifty years from their date or respective dates.
Source: L. 69: p. 776, § 93. C.R.S. 1963: § 89-21-93.