Colorado § 11-57-205 Delegation of authority

Colorado Statutes

§ 11-57-205 — Delegation of authority

Colorado·Title 11 Financial·Art. Public Securities

(1)The issuing authority of a public entity may, in the act of issuance, at any time, delegate to any member of the issuing authority, chief executive officer, or chief financial officer of the public entity the authority to sign a contract for the purchase of the securities or to accept a binding bid for the securities. Such delegation shall be effective for one year after adoption of the act of issuance or such shorter period as specified in the act of issuance. In addition to any determinations that may be delegated in accordance with other provisions of state law, the following determinations may be delegated to such member or officer without any requirement that the issuing authority approve such determinations:

(a)The rate of interest on the securities;

(b)The condition

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(1) The issuing authority of a public
entity may, in the act of issuance, at any time, delegate to any member of the
issuing authority, chief executive officer, or chief financial officer of the public
entity the authority to sign a contract for the purchase of the securities or to accept
a binding bid for the securities. Such delegation shall be effective for one year after
adoption of the act of issuance or such shorter period as specified in the act of
issuance. In addition to any determinations that may be delegated in accordance
with other provisions of state law, the following determinations may be delegated
to such member or officer without any requirement that the issuing authority
approve such determinations:

(a) The rate of interest on the securities;

(b) The conditions on which and the prices at which the securities may be
redeemed before maturity;

(c) The existence and amount of any capitalized interest or reserve funds;

(d) The price at which the securities will be sold;

(e) The principal amount and denominations of the securities;

(f) The amount of principal maturing in any particular year;

(g) The dates on which principal and interest shall be paid;

(h) The securities to be refunded, if any; and

(i) Whether the securities will be secured by an assurance of payment as
described in section 11-57-207 (2) and the terms of any agreement with the third
party providing the assurance of payment.

(2) All terms of the securities other than the matters described in subsection
(1) of this section shall be approved by the issuing authority of the public entity
before the securities are delivered.

Colorado § 11-57-205 (Delegation of authority) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 2000: Entire part added, p. 135, � 1, effective August 2. L. 2004: (1)(h) and (1)(i) added, p. 949, � 2, effective May 21. L. 2008: IP(1) amended, p. 626, � 1, effective August 5.