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<br />CONTAIN SUCH OTHER TERMS AND CONDITIONS AS A POLITICAL SUBDIVISION MAY DETERMINE, INCLUDING BUT
<br />NOT LIMITED TO PROVISIONS WHEREBY THE POLITICAL SUBDIVISION IS OBLIGATED TO PAY FOR THE OUTPUT,
<br />CAPACITY, OR USE OF AN APPROVED WATER INFRASTRUCTURE PROJECT IRRESPECTIVE OF WHETHER SUCH
<br />OUTPUT, CAPACITY, OR USE IS PRODUCED OR DELIVERED TO THE POLITICAL SUBDIVISION OR WHETIrER ANY
<br />PROJECT CONTEMPLATED BY ANY SUCH AGREEMENT IS COMPLETED, OPERABLE, OR OPERATING,' AND
<br />NOTWITHSTANDING SUSPENSION, INTERRUPTION, INTERFERENCE, REDUCTION, OR CURTAILMENT OF THE OUTPUT,
<br />USE, OR SERVICE OF THE PROJECT. SUBJECT TO LOCAL CHARTER AND STATE CONSTITUTIONAL LIMITATIONS, A
<br />CONTRACT OR AGREEMENT MAY ALSO PROVIDE THAT IF ONE OR MORE OF TIrE POLITICAL SUBDIVISIONS
<br />DEFAULTS IN THE PAYMENT OF ITS OBLIGATIONS UNDER THE CON1RACT OR AGREEMENT, THE REMAINING
<br />POLITICAL SUBDIVISIONS THAT ALSO HAVE SIMILAR CON1RACTS OR AGREEMENTS WITH RESPECT TO TIrE SAME
<br />PROJECT SHALL BE REQUIRED TO ACCEPT AND PAY FOR, AND SHALL BE ENTITLED PROPORTIONATELY TO USE OR
<br />OTIrERWISE DISPOSE OF, THE OUTPUT, CAPACITY, OR USE OF TIrE PROJECT THAT IS THE SUBJECT OF THE
<br />CONTRACT OR AGREEMENT ENTERED INTO BY THE DEFAULTING POLITICAL SUBDIVISION. THE OBLIGATIONS OF A
<br />POLITICAL SUBDIVISION UNDER A CONTRACT OR AGREEMENT SHALL EITHER CONSTITUTE SPECIAL OBLIGATIONS
<br />OF THE POLITICAL SUBDIVISION, PAYABLE SOLELY FROM THE REVENUES AND OTIrER MONEYS DERIVED BY THE
<br />POLITICAL. SUBDIVISION FROM TIrE PROJECT, AND SHALL BE TREATED AS EXPENSES OF OPERATING SUCH
<br />FACILITIES OR, IN THE DISCRETION OF THE POLITICAL SUBDIVISION AND SUBJECT TO SATISFACTION OF ANY
<br />REQUIREMENTS OF LAW GOVERNING OR LIMITING THE INCURRENCE OF DEBT BY TIrE POLITICAL SUBDIVISION,
<br />SHALL CONSTITUTE A GENERAL OBLIGATION OF TIrE POLITICAL SUBDIVISION. CONSISTENT WITH THE
<br />PROVISIONS OF SECTION 6 (3) OF ARTICLE XI OF THE STATE CONSTITUTION, WHERE A CONTRACT OR AGREEMENT
<br />.IS ENTERED INTO BY A CITY, COUNTY, CITY AND COUNTY, TOWN, OR SERVICE AUTHORITY AND IS TO CONSTITUTE
<br />A GENERAL OBLIGATION OF THE CITY, COUNTY, CITY AND COUNTY, TOWN, OR SERVICE AUTHORITY AND WHERE
<br />THE CONTRACT OR AGREEMENT PROVIDES THAT THE CITY, COUNTY, CITY AND COUNTY, TOWN, OR SERVICE
<br />AUTHORITY SHALL BE REQUIRED TO ACCEPT AND PAY FOR THE OUTPUT, CAPACITY, OR USE OF THE PROJECT
<br />CONTRACTED FOR BY A DEFAULTING POLITICAL SUBDIVISION, THE CON1RACT OR AGREEMENT SHALL NbT BE
<br />ENTERED INTO UNLESS THE QUESTION OF INCURRING A GENERAL OBLIGATION FOR SUCH PROJECT HAS BEEN
<br />SUBMITTED TO AND APPROVED AT AN ELECTION CONDUCTED BY THE CITY, COUNTY, CITY AND COUNTY, TOWN,
<br />OR SERVICE AUTIrORITY IN ACCORDANCE WITIr APPLICABLE ELECTION LAWS.
<br />37-60-208. Bonds legal investments. ALL BANKS, TRUST COMPANIES, SAVINGS AND LOAN
<br />ASSOCIATIONS, INSURANCE COMPANIES, EXECUTORS, ADMINISTRATORS, GUARDIANS, TRUSTEES, AND OTIrER
<br />FIDUCIARIES MA Y LEGALLY INVEST ANY MONEYS WITHIN THEIR CONTROL IN REVENUE BONDS. PUBLIC ENTITIES,
<br />AS DEFINED IN SECTION 24-75-601 (1), C.R.S., MAY INVEST PUBLIC FUNDS IN SUCH BONDS ONLY IF TIrE BONDS
<br />SATISFY THE INVESTMENT REQUIREMENTS ESTABLISHED IN PART 6 OF ARTICLE 75 OF TITLE 24, c.R.S.
<br />37-60-209. Exemption from taxation. EXCEPT AS OTHERWISE PROVIDED IN THIS SECTION, THE INCOME
<br />FROM REVENUE BONDS IS EXEMPT FROM ALL TAXATION AND ASSESSMENTS IN THE STATE. IN TIrE CERTIFICATE,
<br />INDENTURE OF TRUST, OR OTHER INSTRUMENT AUTHORIZING THE ISSUANCE OF SUCH BONDS, THE BOARD MAY
<br />WAIVE THE EXEMPTION FROM FEDERAL OR STATE INCOME TAXATION FOR INTEREST ON TIrE BONDS.
<br />37-60-210. No action maintainable. AN ACTION OR PROCEEDING AT LAW OR IN EQUITY TO REVIEW
<br />ANY ACTS OR PROCEEDINGS OR TO QUESTION TIrE VALIDITY OR ENJOIN THE PERFORMANCE OF ANY ACT OR
<br />PROCEEDINGS OR THE ISSUANCE OF ANY REVENUE BONDS OR FOR ANY OTIrER RELIEF AGAINST OR FROM ANY
<br />ACTS OR PROCEEDINGS DONE UNDER TIrIS PART 2, WHETIrER BASED UPON IRREGULARITIES OR JURISDICTIONAL
<br />DEFECTS, SHALL NOT BE MAINTAINED UNLESS COMMENCED WITHIN TIrIRTY DAYS AFTER THE PERFORMANCE OF
<br />TIrE ACT OR PROCEEDINGS OR TIrE EFFECTIVE DATE THEREOF, WHICHEVER OCCURS FIRST, AND IS THEREAFTER
<br />PERPETUALLY BARRED.
<br />37-60-211. Annual reports. (1) IF TIrE BOARD ISSUES REVENUE BONDS, TIrEN NO LATER THAN
<br />FEBRUARY 15 OF THE FIRST CALENDAR YEAR FOLLOWING THE CALENDAR YEAR IN WHICH TIrE BOARD FIRST
<br />ISSUES BONDS, AND NO LATER THAN FEBRUARY 15 OF EACH YEAR THEREAFTER, TIrE BOARD SHALL SUBMIT A
<br />REPORT TO THE MEMBERS OF TIrE JOINT BUDGET COMMITTEE OF THE GENERAL ASSEMBLY, THE MEMBERS OF THE
<br />LEGISLATIVE AUDIT COMMITTEE OF THE GENERAL ASSEMBLY, THE CHAIR OF THE AGRICULTURE, LIVESTOCK,
<br />AND NATURAL RESOURCES COMMITTEE OF THE HOUSE OF REPRESENTATIVES, AND TIrE CHAIR OF THE
<br />AGRICULTURE AND NATURAL RESOURCES COMMITTEE OF TIrE SENATE THAT INCLUDES, AT A MINIMUM, TIrE
<br />FOLLOWING INFORMATION:
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