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 THAT MAY BE UNLAWFUL OR IN VIOLATION OF THE RIGHTS OF THE HOLDER

2 OF ANY SECURITY.

3 (2) IF ARESOLUTION OF THE DISTRICT AUTHORIZING OR PROVIDING

4 FOR THE ISSUANCE OF THE SECURITIES OF ANY SERIES OR ANY RELEVANT

5 PROCEEDINGS CONTAINS APROVISION AUTHORIZED BY SECTlON37-49-606

6 (1) (r) AND PROVIDES IN SUBSTANCE THAT ANY TRUSTEE APPOINTED

7 PURSUANT TO SAID SECTION SHALL HAVE THE POWERS PROVIDED BY THAT

8 SECTION, THEN SUCH TRUSTEE, WHETHER OR NOT ALL OF THE BONDS OF

9 SUCH SERIES HAVE BEEN DECLARED DUE AND PAYABLE, SHALL BE

10 ENTITLED AS OF RIGHT TO THE APPOINTMENT OF A RECEIVER OF THE

11 WORKS OR FACILITIES, AND SUCH RECEIVER MAY ENTER UPON AND TAKE

12 POSSESSION OF THE WORKS OR FACILITIES AND, SUBJECT TO ANY PLEDGE

13 OR CONTRACT WITH THE HOLDERS OF SUCH SECURITIES, SHALL TAKE

14 POSSESSION OF ALL MONEYS AND OTHER PROPERTY DERIVED FROM OR

15 APPLICABLE TO THE ACQUISITION, OPERATION, MAINTENANCE, OR

16 IMPROVEMENT OF THE WORKS OR FACILITIES AND PROCEED WITH SUCH

17 ACQUISITION, OPERATION, MAINTENANCE, OR IMPROVEMENT THAT THE

18 DISTRICT IS UNDER ANY OBLlGAUQN.TO.D_O,.AND.OP-ERAIE,.MAINTAIN,

19 EQUIP, AND IMPROVE THE WORKS OR FACILITIES, AND FIX, CHARGE,

20 COLLECT, ENFORCE, AND RECEIVE THE SERVICE CHARGES AND ALL

21 SYSTEMS REVENUES THAT LATER ARISE, SUBJECT TO ANY PLEDGE OF THE

22 SERVICE CHARGES AND ALL SYSTEMS REVENUES OR RELEVANT CONTRACT

23 WITH THE HOLDERS OF SUCH SECURITIES, AND PERFORM THE PUBLIC

24 DUTIES AND CARRY OUT THE CONTRACTS AND OBLIGATIONS OF THE

25 DISTRICT IN THE SAME MANNER AS THE DISTRICT ITSELF MIGHT DO AND

26 UNDER THE DIRECTION OF THE COURT.

27 (3) NEITHER THE MEMBERS OF THE BOARD OF DIRECTORS OF THE

-47-

SB04-232