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<br />(d) A STATEMENT THAT LISTS THE PROJECTED COST OF EACH PROJECT AND THE AMOUNT OF REVENUE <br />BOND PROCEEDS TO BE EXPENDED ON EACH PROJECT AND IDENTIFIES THE SOURCE AND AMOUNT OF ANY MONEYS <br />OTHER THAN BOND PROCEEDS TO BE EXPENDED ON EACH PROJECT. <br />(3) THE GENERAL ASSEMBLY MAY APPROVE BY BILL ANY OR ALL OF THE WATER INFRASTRUCTURE <br />PROJECTS RECOMMENDED BY THE BOARD PURSUANT TO SUBSECTION (2) OF THIS SECTION. THE BOARD SHALL <br />ONLY ISSUE REVENUE BONDS FOR THE PURPOSE OF FINANCING APPROVED PROJECTS. <br />37-60-204. Water infrastructure revenue bouds. (1) SUBJECT TO THE APPROVAL BY THE REGISTERED <br />ELECTORS OF THE STATE VOTING ON THE QUESTION OF THE BALLOT QUESTION SPECIFIED IN SECTION 37-60-203 <br />(I) (a), AND ALL OTHER REQUIREMENTS OF THIS PART 2, THE BOARD, FROM TIME TO TIME, MAY ISSUE <br />VOTER-APPROVED REVENUE BONDS FOR THE PURPOSE OF FINANCING APPROVED WATER INFRASTRUCTURE <br />PROJECTS. <br />(2) (a) THE PRINCIPAL OF AND INTEREST ON BONDS ISSUED BY THE BOARD AND ANY COSTS ASSOCIATED <br />WITH THE ISSUANCE AND ADMINISTRATION OF SUCH BONDS SHALL BE PAYABLE SOLELY FROM: <br />(I) REVENUES AND RECEIPTS DERIVED FROM THE'SALE OF WATER OR POWER OR THE SALE OR LEASE OF <br />RECREATIONAL FACILITIES OR OPPORTUNITIES BY THE BOARD FROM A WATER INFRASTRUCTURE PROJECT WHOSE <br />CONSTRUCTION, DEVELOPMENT, OR IMPROVEMENT WAS FINANCED IN WHOLE OR IN PART BY BONDS AND <br />INTEREST OR INCOME EARNED ON THE DEPOSIT AND INVESTMENT OF SUCH REVENUES AND RECEIPTS; AND <br />(II) THE PROCEEDS OF SUCH BONDS AND ANY INTEREST AND INCOME EARNED ON THE DEPOSIT AND <br />INVESTMENT OF SUCH BOND PROCEEDS. <br />(b) THE OWNERS OR HOLDERS OF BONDS MAY NOT LOOK TO ANY OTHER REVENUES OF THE STATE FOR <br />THE PAYMENT OF THE BONDS. <br />(3) (a) THE BOARD SHALL ISSUE BONDS PURSUANT TO A RESOLUTION ADOPTED BY THE BOARD OR ANY <br />OTHER INSTRUMENT ISSUED BY THE BOARD. <br />(b) As THE BOARD DEEMS APPROPRIATE, THE RESOLUTION OR OTHER INSTRUMENT AUTHORIZING BONDS <br />MAY CONTAIN SUCH PROVISIONS SETTING FORTH THE RIGHTS AND REMEDIES OF THE OWNERS OR HOLDERS OF <br />THE BONDS, MAY CONTAIN SUCH PROVISIONS FOR PROTECTING AND ENFORCING THE RIGHTS AND REMEDIES OF <br />THE OWNERS OR HOLDERS OF THE BONDS AS THE BOARD DEEMS APPROPRIATE, AND MAY CONTAIN SUCH OTHER <br />PROVISIONS THAT THE BOARD DEEMS APPROPRIATE FOR THE SECURITY OF THE OWNERS OR HOLDERS OF THE <br />BONDS. SUCH PROVISIONS MAY INCLUDE, BUT SHALL NOT BE LIMITED TO, PROVISIONS REGARDING LETTERS OF <br />CREDIT, INSURANCE, STANDBY CREDIT AGREEMENTS, OR OTHER FORMS OF CREDIT ENSURING TIMELY PAYMENT <br />OF THE BONDS, INCLUDING THE REDEMPTION PRICE OR THE PURCHASE PRICE, AND PROVISIONS REGARDING THE <br />REIMBURSEMENT OF PROVIDERS OF SUCH CREDIT OUT OF REVENUES AVAILABLE FOR THE PAYMENT OF PRINCIPAL <br />OF AND INTEREST ON THE BONDS FOR ANY AMOUNTS PAID BY SUCH PROVIDERS WITH RESPECT TO SUCH BONDS. <br />(4) BONDS MAY BE ISSUED IN SUCH AGGREGATE PRINCIPAL AMOUNT, MAY BE ISSUED IN ONE OR MORE <br />SERIES, MAY BEAR SUCH DATES, MAY BE IN SUCH DENOMINATION OR DENOMINATIONS, MAY MATURE ON ANY <br />DATE OR DATES, MAY MATURE IN SUCH AMOUNT OR AMOUNTS, MAY BE IN SUCH FORM, MAY BE PAYABLE AT <br />SUCH PLACE OR PLACES, MAYBE SUBJECT TO SUCH TERMS OF REDEMPTION WITH OR WITHOUT A PREMIUM, MAY <br />CONTAIN SUCH PROVISIONS AS THE STATE TREASURER, IN CONSULTATION WITH THE BOARD, DEEMS <br />APPROPRIATE REGARDING INSURANCE TO ENSURE THE TIMELY PAYMENT OF THE BONDS, AND MAY CONTAIN <br />SUCH OTHER PROVISIONS NOT INCONSISTENT WITH THE PROVISIONS OF THIS PART 2 AS THE BOARD MAY <br />DETERMINE. <br />(5) THE RATE OR RATES OF INTEREST BORNE BY THE BONDS MAY BE FIXED, ADJUSTABLE, OR VARIABLE <br />OR ANY COMBINATION THEREOF WITHOUT REGARD TO ANY INTEREST RATE LIMITATION APPEARING IN ANY <br />OTHER LAW OF THIS STATE. IF ANY RATE OR RATES ARE ADJUSTABLE OR VARIABLE, THE STANDARD, INDEX, <br />METHOD, OR FORMULA SHALL BE DETERMINED BY THE STATE TREASURER IN CONSULTATION WITH THE BOARD IN <br />ACCORDANCE WITH SUBSECTION (8) OF THIS SECTION. <br />(6) BONDS MAY BE SOLD AT PUBLIC OR PRIVATE SALE AND MAY BE SOLD AT, ABOVE, OR BELOW THE <br />PRINCIPAL AMOUNTS THEREOF. THE SALE OF BONDS SHALL NOT BE SUBJECT TO THE "PROCUREMENT CODE", <br />ARTICLES 101 TO 112 OF TITLE 24, C.R.S. <br />(7) BONDS SHALL BE SIGNED AND ISSUED UNDER THE SEAL OF THE BOARD IN ACCORDANCE WITH <br />SECTION 37-60-108. PURSUANT TO ARTICLE 55 OF TITLE 11, C.R.S., REQUIRED SIGNATURES MAY BE FACSIMILE <br />SIGNATURES IMPRINTED, ENGRAVED, STAMPED, OR OTHERWISE PLACED ON THE BONDS; EXCEPT THAT, IF ALL OF <br /> <br />45 <br />