Colorado Code § 37-41-129

Limit of indebtedness - emergency
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The board of directors or other officers
of the district shall have no power to incur any debt or liability whatever, either by issuing bonds
or otherwise, in excess of the express provisions of this article, nor shall they add to the
expenditure of any one fiscal year anything over and above the amount provided for in the
annual appropriation resolution relating to that year, and any debt or liability incurred in excess
of these provisions shall be and remain absolutely void; except that said expenditures may be
increased in emergency cases if the same are authorized in writing by a number of district
electors equal to one-half the number who voted at the last annual district election.

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