(1) All assessment bonds issued under this article shall be issued by the treasurer upon estimates of the engineer, or if bonds are issued after the levy of assessments, in an aggregate principal amount not exceeding the aggregate amount of unpaid assessments pledged for the payment of the bonds, and upon order of the board by resolution.
(2) The bonds shall mature in no event after that date which is one year after the last assessment installment payment date.
Source: L. 69: p. 795, § 138. C.R.S. 1963: § 89-21-138.