LEG00050

• Bill Number: SB03-236
• Year: 2003
• Title: Water Board Revenue Bonds
• Legislation - Doc Type: Other CWCB Related Bills - Passed

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SUCH FACILITIES OR, IN THE DISCRETION OF THE POLITICAL SUBDIVISION
AND SUBJECT TO SATISFACTION OF ANY REQUIREMENTS OF LAW
GOVERNING OR LIMITING THE INCURRENCE OF DEBT BY THE POLITICAL
SUBDIVISION, SHALL CONSTITUTE A GENERAL OBLIGATION OF THE
POLITICAL SUBDIVISION.
(d) CONSISTENT WITH THE PROVISIONS OF SECTION 6 (3) OF
ARTICLE XI OF THE STATE CONSTITUTION, WHERE A CONTRACT OR
AGREEMENT IS ENTERED INTO BY A CITY, COUNTY, CITY AND COUNTY,
TOWN, OR SERVICE AUTHORITY AND IS TO CONSTITUTE A GENERAL
OBLIGATION OF THE CITY, COUNTY, CITY AND COUNTY, TOWN, OR SERVICE
AUTHORITY AND WHERE THE CONTRACT OR AGREEMENT PROVIDES THAT
THE CITY, COUNTY, CITY AND COUNTY, TOWN, OR SERVICE AUTHORITY
SHALL BE REQUIRED TO ACCEPT AND PAY FOR THE OUTPUT, CAPACITY, OR
USE OF THE PROJECT CONTRACTED FOR BY A DEFAULTING POLITICAL
SUBDIVISION, THE CONTRACT OR AGREEMENT SHALL NOT BE ENTERED INTO
UNLESS THE QUESTION OF INCURRING A GENERAL OBLIGATION FOR SUCH
PROJECT HAS BEEN SUBMITTED TO AND APPROVED AT AN ELECTION
CONDUCTED BY THE CITY, COUNTY, CITY AND COUNTY, TOWN, OR SERVICE
AUTHORITY IN ACCORDANCE WITH APPLICABLE ELECTION LAWS.
37-60-208. Bonds - status as legal investments. ALL BANKS,
TRUST COMPANIES, SAVINGS AND LOAN ASSOCIATIONS, INSURANCE
COMPANIES, EXECUTORS, ADMINISTRATORS, GUARDIANS, TRUSTEES, AND
OTHER FIDUCIARIES MAY LEGALLY INVEST ANY MONEYS WITHIN THEIR
CONTROL IN REVENUE BONDS. PUBLIC ENTITIES, AS DEFINED IN SECTION
24-75-601 (1), C.R.S., MAY INVEST PUBLIC FUNDS IN SUCH BONDS ONLY
IF THE BONDS SATISFY THE INVESTMENT REQUIREMENTS ESTABLISHED IN
PART 6 OF ARTICLE 75 OF TITLE 24, C.R.S.

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SB03-236