§ 11-54-103 — Refunding public securities

Any public securities issued by the
state, or any public body thereof, may be refunded, without an election, by the state
or public body issuing them, or any successor thereof, in the name of the state or
public body issuing the public securities being refunded, but subject to provisions
concerning their payment and to any other contractual limitations in the
proceedings authorizing their issuance or otherwise appertaining thereto, pursuant
to an ordinance to be adopted by the governing body of the issuer in the manner
provided by law for the issuance of the public securities being refunded, to refund,
pay, and discharge all or any part of such outstanding public securities, including
any interest thereon in arrears or about to become due, or for the purpose of
reducing interest costs or effecting other economies, or of modifying or eliminating
restrictive contractual limitations appertaining to the issuance of additional public
securities, or to any project appertaining thereto or any combination thereof.

Legislative History

Source: L. 63: p. 888, � 3. C.R.S. 1963: � 125-8-3.