(1) Any interim debentures may mature at such time not exceeding a period of time equal to the estimated time needed to effect the purpose for which they are issued or for which the bonds are authorized to be issued, but not exceeding three years from the date or respective dates of the interim debentures, as the board may determine.
The proceeds of interim debentures shall be used to defray the cost of the project.
Any notes or warrants or both may be funded with the proceeds of interim debentures, as well as bonds.
Except as otherwise provided in sections 32-11-558 to 32-11-563, interim debenturesshall be issued as provided in this article for district securities in sections 32-11-502 to 32-11557 and 32-11-803 to 32-11-808.
Source: L. 69: p. 781, § 102. C.R.S. 1963: § 89-21-102.