§ 23-31-117 — Borrowing funds

Colorado § 23-31-117

• Jurisdiction: Colorado
• Title 23: Postsecondary Education
• Art.: Colorado State University

Text

(1) For the purposes described in section 23-31-112, the board of governors of the Colorado state university system is authorized to:

(a) Enter into contracts with any person, corporation, or state or federal
government agency for the advancement of money for such purposes and providing
for the repayment of such advances with interest from the Colorado state university
research building revolving fund; and

(b) Issue bonds as provided in this section.

(2) (a) Any bonds issued pursuant to this section shall mature at such time or
times, shall bear or accrue interest at such rate or rates, and shall otherwise be sold
and issued in such manner and on such terms as provided by the board of governors
of the Colorado state university system.

(b) Such bonds shall be payable exclusively from, and shall be secured by a
pledge of, the Colorado state university research building revolving fund created in
section 23-31-112.

(c) The authority contained in this section to issue bonds shall be in addition
to the authority granted to the board of governors of the Colorado state university
system to issue anticipation warrants pursuant to section 23-31-113; except that
nothing in this section shall be construed to authorize the issuance of bonds if by
such issuance the obligation of any contract entered into with respect to any
outstanding anticipation warrants would thereby be impaired.

(d) Any bonds issued pursuant to this section shall be exempt from taxation
for state, county, school district, special district, municipal, or other purposes in the
state of Colorado.

(e) Bonds issued pursuant to the provisions of this section shall not
constitute a debt or an indebtedness of the state within the meaning of any
applicable provision of the state constitution or state statutes.

Legislative History

Source: L. 2007: Entire article amended with relocations, p. 528, � 2, effective August 3; (2)(e) amended, p. 67, � 2, effective August 3.