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 RECITE IN SUBSTANCE THAT THE SECURITY AND THE INTEREST ON THE

2 SECURITY ARE PAY ABLE SOLELY FROM THE REVENUES OR OTHER MONEYS

3 PLEDGED TOTHEP A YMENT THEREOF. SECURITIES SPECIFICALL YPLEDGING

4 THE FULL FAITH AND CREDIT OF THE DISTRICT FOR THEIR PAYMENT SHALL

5 so STATE.

6 (8) THE PAYMENT OF SECURITIES SHALL NOT BE SECURED BY AN

7 ENCUMBRANCE, MORTGAGE, OR OTHER PLEDGE OF PROPERTY OF THE

8 DISTRICT, EXCEPT FOR REVENUES, INCOME, TAX PROCEEDS, AND OTHER

9 MONEYS PLEDGED FOR THE PAYMENT OF SECURITIES. No PROPERTY OF

10 THE DISTRICT, SUBJECT TO THE EXCEPTION OF THIS SUBSECTION (8), SHALL

11 BE LIABLE TO BE FORFEITED OR TAKEN IN PAYMENT OF THE SECURITIES.

12 37-49-602. Incontestable statement in securities. ANy

13 RESOLUTION AUTHORIZING, OR OTHER INSTRUMENT APPERT AININGTO, ANY

14 SECURITIES UNDER THIS ARTICLE MAY PROVIDE THAT EACH SECURITY

15 AUTHORIZED IN THE RESOLUTION SHALL STATE THAT IT IS ISSUED UNDER

16 AUTHORITY OF THIS ARTICLE. SUCH STATEMENT SHALL CONCLUSIVELY

17 IMP ART FULL COMPLIANCE WITH ALL OF THE PROVISIONS OF THIS ARTICLE,

18 AND ALL SECURITIES ISSUED_~ONIAIr-[lI'!.G_S).J.c:H_RECITALSHALLBE

19 INCONTESTABLE FOR ANY CAUSE WHATSOEVER AFTER THEIR DELIVERY

20 FOR VALUE.

21 37-49-603. Security details. (1) ANY SECURITIES IN THIS

22 ARTICLE AUTHORIZED TO BE ISSUED SHALL BEAR SUCH DATE; BE IN SUCH

23 DENOMINATION; MATURE AT SUCH TIME, BUT IN NO EVENT EXCEEDING

24 FORTY YEARS AFTER THEIR DATE; AND BEAR INTEREST AT A FIXED OR

25 VARIABLE RATE SUCH THAT THE NET EFFECTIVE INTEREST RATE OF THE

26 ISSUE OF SECURITIES DOES NOT EXCEED THE MAXIMUM NET EFFECTIVE

27 INTEREST RATE AUTHORIZED, WHICH INTERESTMA Y BE EVIDENCED BY ONE

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SB04-232