Colorado § 24-115-107 General powers of corporation

Colorado Statutes

§ 24-115-107 — General powers of corporation

Colorado § 24-115-107

Title 24Government

Art.Financing of Critical State Needs

This text of Colorado § 24-115-107 (General powers of corporation) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 24-115-107 (2026).

Text

(1)In addition to any other powers specifically granted to the corporation in this article, the corporation has the following powers:

(a)To have perpetual existence and succession as a body politic and corporate;

(b)To adopt, amend, or repeal bylaws for the regulation of its affairs and the conduct of its business, consistent with the provisions of this article;

(c)To sue and be sued;

(d)To have and to use a seal and to alter the same at its pleasure;

(e)To maintain an office at such place as it may designate;

(f)To borrow no more than two hundred fifty thousand dollars from a private sector financial institution, or from the state, at prevailing interest rates, for the purpose of defraying expenses of the corporation incurred prior to the issuance of any notes pursuant

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(1) In addition to any other
powers specifically granted to the corporation in this article, the corporation has
the following powers:

(a) To have perpetual existence and succession as a body politic and
corporate;

(b) To adopt, amend, or repeal bylaws for the regulation of its affairs and the
conduct of its business, consistent with the provisions of this article;

(c) To sue and be sued;

(d) To have and to use a seal and to alter the same at its pleasure;

(e) To maintain an office at such place as it may designate;

(f) To borrow no more than two hundred fifty thousand dollars from a private
sector financial institution, or from the state, at prevailing interest rates, for the
purpose of defraying expenses of the corporation incurred prior to the issuance of
any notes pursuant to this article. The final repayment date of any borrowing shall
be no later than the last day of the state fiscal year in which the borrowing is
undertaken, and any certificate, trust indenture, or other instrument providing for
the borrowing shall expressly state that the borrowing shall be repaid on or before
that date.

(g) To issue note anticipation notes for the purpose of raising no more than
two hundred fifty thousand dollars to defray expenses of the corporation incurred
prior to the issuance of any notes pursuant to this article. The final maturity date of
any note anticipation notes shall be no later than the last day of the state fiscal
year in which the anticipation notes are issued, and any certificate, trust indenture,
or other instrument providing for the issuance of anticipation notes shall expressly
state that the anticipation notes shall be repaid on or before that date.

(h) To make and execute contracts, including, but not limited to, trust
agreements, trust indentures, note purchase agreements, tax regulatory
agreements, continuing disclosure agreements, ancillary financial facilities, and all
other instruments necessary or convenient for the exercise of its powers and
functions under this article; and

(i) To do all things necessary and convenient to carry out the purposes of this
article. The powers granted to the corporation shall be liberally construed to effect
the purposes of this article. However, the corporation shall not undertake any
enterprise, operations, or business other than the issuance of notes as authorized
by this article.