Colorado Code § 31-21-301

Power to issue bonds - purpose. Subject to the provisions of this part 3, any
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municipality has the power to issue its negotiable coupon bonds for the purpose of paying any
special assessment bonds or obligations which it may issue, together with interest thereon, when
it appears that there is not or will not be sufficient money for the payment of the same at
maturity in the particular fund out of which payment should be made.

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