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<br />BONDS TO THE PAYMENT OF THE BONDS AND ANY COSTS ASSOCIATED WITH THE ISSUANCE AN.
<br />ADMINISTRATION OF THE BONDS. .
<br />(2) ALL PROCEEDS FROM THE ISSUANCE OF BONDS THAT ARE NOT PLEDGED FOR THE PAYMENT OF THE
<br />BONDS AND ANY COSTS ASSOCIATED WITH THE ISSUANCE AND ADMINISTRATION OF THE BONDS, ANY REVENUES
<br />AND RECEIPTS THAT ARE DERIVED FROM THE SALE OF WATER OR POWER BY THE BOARD OR THE SALE OR LEASE
<br />OF RECREATIONAL FACILITIES OR OPPORTUNITIES BY THE BOARD FROM WATER INFRASTRUCTURE PROJECTS
<br />FINANCED BY THE BONDS, AND ANY PAYMENTS MADE OR REVENUES PLEDGED TO THE BOARD BY ANY POLITICAL
<br />SUBDIVISION PURSUANT TO SECTION 37-60-207 SHALL BE CREDITED TO THE WATER INFRASTRUCTURE
<br />DEVELOPMENT FUND, WHICH FUND IS HEREBY CREATED IN THE STATE TREASURY. ALL INTEREST AND INCOME
<br />EARNED ON THE DEPOSIT AND INVESTMENT OF MONEYS IN THE FUND SHALL BE CREDITED TO THE FUND AND
<br />BECOME A PART THEREOF, AND MONEYS REMAINING IN THE FUND AT THE END OF ANY FISCAL YEAR SHALL
<br />REMAIN IN THE FUND AND SHALL NOT REVERT TO THE GENERAL FUND OF THE STATE OR TO ANY OTHER FUND.
<br />ALL MONEYS IN THE FUND SHALL BE CONTINUOUSLY APPROPRIATED TO THE BOARD AND SHALL BE USED TO
<br />FINANCE APPROVED WATER INFRASTRUCTURE PROJECTS, TO PAY ANY UNPLEDGED COSTS OF ISSUING AND
<br />ADMINISTERING BONDS, INCLUDING REIMBURSEMENT OF COSTS INCURRED BY THE TREASURER IN ASSISTING THE
<br />BOARD IN ACCORDANCE WITH THIS PART 2, AND TO PAY ANY OTHER EXPENSE OR CHARGE INCURRED IN
<br />CONNECTION WITH THE ONGOING OPERATION OR MAINTENANCE OF APPROVED WATER INFRASTRUCTURE
<br />PROJECTS.Q.R OTHER ACTIONS OF THE BOARD AUTHORIZED BY THIS PART 2.
<br />(3) PROCEEDS FROM THE ISSUANCE OF BONDS, EARNINGS ON SUCH PROCEEDS, AND REVENUES AND
<br />RECEIPTS DERIVED FROM THE SALE OF WATER OR POWER OR THE SALE OR LEASE OF RECREATIONAL FACILITIES
<br />OR OPPORTUNITIES BY THE BOARD FROM WATER INFRASTRUCTURE PROJECTS FINANCED BY THE BONDS AND
<br />EARNINGS ON SUCH REVENUES AND RECEIPTS SHALL NOT BE INCLUDED IN STATE FISCAL YEAR SPENDING, AS
<br />DEFINED BY SECTION 24-77-102 (17) (a), C.R.s., FOR ANY GIVEN FISCAL YEAR FOR PURPOSES OF SECTION 20 OF
<br />ARTICLE X OF THE STATE CONSTITUTION AND ARTICLE 77 OF TIlLE 24, C.R.S.
<br />37-60-207. Powers of political subdivisions~ (1) A POLITICAL SUBDIVISION, FOR THE PURPOSE oA
<br />AIDING AND COOPERATING IN THE FINANCING, CONSTRUCTION, OPERATION, OR MAINTENANCE OF AN~
<br />APPROVED WATER INFRASTRUCTURE PROJECT, HAS THE POWER:
<br />(a) To SELL, LEASE, LOAN, DONATE, GRANT, CONVEY, ASSIGN, OR OTHERWISE TRANSFER TO THE BOARD
<br />ANY REAL OR PERSONAL PROPERTI OR INTERESTS THEREIN;
<br />(b) To ENTER INTO AGREEMENTS WITH THE BOARD OR ANY OTHER POLITICAL SUBDIVISION OR ENTITY
<br />FOR THE JOINT FINANCING, CONSTRUCTION, OPERATION, OR MAINTENANCE OF ANY APPROVED WATER
<br />INFRASTRUCTURE PROJECT. UPON COMPLIANCE WITH APPLICABLE CONSTITUTIONAL OR CHARTER LIMITATIONS,
<br />THE POLITICAL SUBDIVISION MAY AGREE TO MAKE P A YM:ENTS, WITHOUT LIMITATION AS TO THE AMOUNT EXCEPT
<br />AS SET FORTH IN THE AGREEMENT, FROM REVENUES RECEIVED IN ONE OR MORE FISCAL YEARS TO THE BOARD,
<br />ANY OTHER POLITICAL SUBDIVISION OR ENTITI, OR ANY OTHER PERSON TO DEFRAY THE COSTS OF THE
<br />FINANCING, CONSTRUCTION, OPERATION, OR MAINTENANCE OF ANY APPROVED WATER INFRASTRUCTURE
<br />PROJECT.
<br />(c) TO TRANSFER OR ASSIGN TO THE BOARD ANY CONTRACTS THA T MAY HAVE BEEN AWARDED BY THE
<br />POLITICAL SUBDIVISION FOR CONSTRUCTION, OPERATION, OR MAINTENANCE OF ANY APPROVED WATER
<br />INFRASTRUCTIJRE PROJECT.
<br />(2) TO ASSIST IN THE FINANCING, CONSTRUCTION, OPERATION, OR MAINTENANCE OF AN APPROVED
<br />WATER INFRASTRUCTURE PROJECT, ANY POLITICAL SUBDIVISION MAY, BY CONTRACT, PLEDGE TO THE BOARD
<br />REVENUES FROM ANY LEGALLY AVAILABLE SOURCE.
<br />(3) PURSUANT TO ANY CONTRACT OR AGREEMENT ENTERED INTO AS AUTHORIZED BY THIS SECTION, A
<br />POLITICAL SUBDIVISION MAY OBLIGATE ITSELF TO MAKE PAYMENTS IN AN AMOUNT THAT WILL BE SUFFICIENT TO
<br />ENABLE THE BOARD OR ANY OTHER POLITICAL SUBDIVISION OR ENTITI THAT IS AIDING AND COOPERATING IN
<br />THE FINANCING OF ANY APPROVED WATER INFRASTRUCTURE PROJECT THROUGH THE ISSUANCE OF BONDS OR
<br />OTHER FINANCIAL INSTRUMENTS TO MEET ITS EXPENSES INCURRED IN SUCH FINANCING; THE PRINCIPAL AND
<br />INTEREST PAYMENTS FOR BONDS OR OTHER FINANCIAL INSTRUMENTS ISSUED; ITS REASONABLE RESERVES FO.
<br />DEBT SERVICE, OPERATION AND MAINTENANCE, AND RENEWALS AND REPLACEMENTS; AND THE REQUIREMENT
<br />OF ANY RATE COVENANT WITH RESPECT TO NOTE SERVICE COVERAGE OR DEBT SERVICE COVERAGE CONTAINED
<br />IN ANY RESOLUTION, ORDINANCE, OR OTHER SECURITI INSTRUMENT. A CONTRACT OR AGREEMENT MAY
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