LEG00101

• Bill Number: SB04-232
• Year: 2004
• Title: Concerning the creation of a front range water conservation district
• Legislation - Doc Type: Other CWCB Related Bills - Killed

1 TREASURY, INCLUDING SUCH MONEY AS MAY BE IN ANY SINKING OR

2 ESCROW FUND ESTABLISHED FOR THE PURPOSE OF PROVIDING FOR THE

3 PAYMENT OF THE PRINCIPAL OF OR INTEREST ON ANY CONTRACT OR

4 BONDED OR OTHER INDEBTEDNESS, OR FOR ANY OTHER PURPOSE, NOT

5 REQUIRED FOR THE IMMEDIATE NECESSITIES OF THE DISTRICT IN ANY

6 LEGAL INVESTMENT OR DEPOSITORY AUTHORIZED BY PART 6 OF ARTICLE

7 75 OF TITLE 24, C.R.S., AND SUCH INVESTMENT MAY BE MADE BY DIRECT

8 PURCHASE OF ANY ISSUE OF SUCH LEGAL INVESTMENT OR PART THEREOF

9 AT THE ORIGINAL SALE OF THE SAME ORBY THE SUBSEQUENT PURCHASE OF

10 SUCH LEGAL INVESTMENT. ANY LEGAL INVESTMENT THUS MADE AND HELD

11 MAY BE SOLD FROM TIME TO TIME AND THE PROCEEDS REINVESTED IN ANY

12 SUCH LEGAL INVESTMENT. SALES OF ANY SUCH LEGAL INVESTMENT THUS

13 PURCHASED AND HELD SHALL BE MADE SO THAT THE PROCEEDS MAY BE

14 APPLIED TO THE PURPOSES FOR WHICH THE MONEY WITH WHICH THE LEGAL

15 INVESTMENTS WERE ORIGINALLY PURCHASED WAS PLACED IN THE

16 TREASURY OF THE DISTRICT . THE FUNCTIONS AND DUTIES AUTHORIZED BY

17 THIS PARAGRAPH (i) SHALL BE PERFORMED UNDER SUCH RULES AS SHALL

18 BE PRESCRIBED BY THE BOARD. THE BOARD MAY APPOINl:, BY WJl,IUEN

19 RESOLUTION, ONE OR MORE PERSONS TO ACT AS CUSTODIANS OF THE

20 MONEY OF THE DISTRICT. SUCH PERSONS SHALL GIVE SURETY BONDS IN

21 SUCH AMOUNTS AND FORM AND FOR SUCH PURPOSES AS THE BOARD

22 REQUIRES.

23 (j) To BORROW FUNDS AND TO ISSUE GENERAL OBLIGATION OR

24 REVENUE BONDS FOR THE CONSTRUCTION, ACQUISITION, IMPROVEMENT,

25 AND REPAIR OF WORKS, FACILITIES, AND WATER RIGHTS NECESSARY TO

26 THE PURPOSES OF THE DISTRICT. BONDS MAY BE ISSUED IN THE NAME OF

27 THE DISTRICT OR ANY ENTERPRISE CREATED BY THE BOARD.

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SB04-232