Colorado Code § 24-32-1713

Effect of mortgage credit certificate election or issuance of bonds
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without allocation. Any issuing authority which issues bonds or makes a mortgage credit
certificate election prior to the receipt by the issuing authority of a related allocation, or in
excess of the allocation, or after the relinquishment of the allocation, or in respect of which a
form 8038 or a mortgage credit certificate election form is not filed within the prescribed time
period shall not have an allocation of the state ceiling pursuant to this part 17.

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