§ 11-59-102 — Legislative declaration

Colorado § 11-59-102

• Jurisdiction: Colorado
• Title 11: Financial
• Art.: Colorado Municipal Bond

Text

(1) The general assembly finds that:

(a) The financial reputation and integrity of all local governments and
political subdivisions are a matter of statewide concern;

(b) There is a growing concern statewide with special districts and municipal
and county improvement districts that are either insolvent or threatened with
insolvency and the attendant impairment of viability and of the ability to provide
public services; and

(c) The credit reputation of political subdivisions of the state of Colorado is
of vital interest to citizens of the state.

(2) The general assembly determines that it is necessary to empower the
securities commissioner to regulate and monitor the issuance of municipal bonds of
political subdivisions and to develop information and recommendations for
appropriate action for the general assembly in connection therewith.

(3) The general assembly declares that the annual disclosure of financial
and credit information for public securities will benefit both issuers and investors
by expanding and stabilizing the market for public securities and thereby improving
the marketability of such securities.

(4) Therefore, the general assembly declares that it is in the best interests of
this state and its citizens that safeguards and full disclosure be made in connection
with the issuance of bonds of special districts and municipal and county
improvement districts and that this article is necessary to protect the continued
provision of public services and the credit of political subdivisions. This article is
remedial in nature and is to be broadly construed to effectuate its purposes.

Legislative History

Source: L. 91: Entire article added, p. 2404, � 1, effective January 1, 1992.