§ 23-21-522 — Powers of the authority - investments

Colorado § 23-21-522

• Jurisdiction: Colorado
• Title 23: Postsecondary Education
• Art.: University of Colorado -

Text

(1) The authority has the
power:

(a) To invest any funds not required for immediate disbursement in property
or in securities which meet the standard for investments established in section 15-1-304, C.R.S., provided such investment assists the authority in carrying out its public
purposes; and to sell from time to time such securities thus purchased and held;
and to deposit any securities in any trust bank within or without the state. Any funds
deposited in a banking institution or in any depository authorized in section 24-75-603, C.R.S., shall be secured in such manner and subject to such terms and
conditions as the board may determine, with or without payment of any interest on
such deposit, including, without limitation, time deposits evidenced by certificates
of deposit. Any commercial bank incorporated under the laws of this state which
may act as depository of any funds of the authority may issue indemnifying bonds
or may pledge such securities as may be required by the board of directors.

(b) Notwithstanding the provisions of paragraph (a) of this subsection (1), to
contract with the holders of any of its notes or bonds as to the custody, collection,
securing, investment, and payment of any moneys of the authority and of any
moneys held in trust or otherwise for the payment of notes or bonds and to carry
out such contract. Moneys held in trust or otherwise for the payment of notes or
bonds or in any way to secure notes or bonds and deposits of such moneys may be
secured in the same manner as moneys of the authority, and all banks and trust
companies are authorized to give such security for such deposits.

Legislative History

Source: L. 91: Entire part added, p. 576, � 2, effective June 1.