§ 11-59-108 — Registration of bonds

Colorado § 11-59-108

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

Text

(1) An issuance of bonds may be
registered by a district under this article.

(2) An application for registration of bonds under this section shall contain
full and fair disclosure of all material facts respecting the bonds offered, including
the following information, shall state the title of the bonds and the number and
amount being registered under this article, and shall be accompanied by the
following documents:

(a) The most recent district audit report;

(b) Engineering and architectural reports which describe the cost and
location of improvements in the district;

(c) Copies of intergovernmental agreements, construction contracts, and
competitive bids which disclose the material elements of any proposed project to
be financed by the proceeds of the offering, if available;

(d) Copies of signed agreements, if available, with persons building or
developing improvements in the district which are to be owned, managed, leased, or
sold by such persons;

(e) Copies of agreements, if any, with the owners of major parcels of vacant
or undeveloped land in the district which disclose development fees or other
payments to be made to support the proposed bonds while the district is being
developed in accordance with the service plan;

(f) Recently audited financial statements of persons building or developing
improvements in the district for contracts in excess of fifty thousand dollars;

(g) In a special district, copies of the service plan and any amendments
thereto and copies of all reports required by law to be filed with the county or
counties wherein the special district is located and, where appropriate, evidence of
compliance with any other requirement of law imposed on special districts issuing
bonds; and

(h) Such additional information as the securities commissioner requires by
rule or order and as is required for full and fair disclosure respecting the bonds
offered.

(3) A registration application under this section becomes effective when the
securities commissioner so orders, if the application is not subject to a stop order
under section 11-59-109. In the case of an order of effectiveness, the securities
commissioner shall include in such order a list of the documents reviewed in
connection with the application for registration.

(4) The date of filing shall be the date that the application for registration or
an amendment to the application is received by the securities commissioner.

(5) Districts are subject to the open meetings law under part 4 of article 6 of
title 24, C.R.S., and the open records law under article 72 of title 24, C.R.S.

Legislative History

Source: L. 91: Entire article added, p. 2412, � 1, effective January 1, 1992. L. 95: (5) amended, p. 1093, � 5, effective May 31.