§ 24-115-116 — Investments

Colorado § 24-115-116

• Jurisdiction: Colorado
• Title 24: Government
• Art.: Financing of Critical State Needs

Text

(1) Except as otherwise provided in subsection (2)
of this section, proceeds from the issuance of notes may be invested in any manner
in which public moneys generally may be invested as provided by section 24-75-601.1 or any other applicable law.

(2) An issuing authority, in consultation with the state treasurer, may direct a
corporate trustee that holds any proceeds from the issuance of notes or any other
moneys paid to the trustee in connection with the notes or any other moneys
relating to the notes or moneys in the fund to invest or deposit the proceeds or
other moneys in investments or deposits other than those in which public moneys
generally may be invested or deposited pursuant to section 24-75-601.1 or any
other applicable law if the board or the executive director, in consultation with the
state treasurer, determines that the investment or deposit meets the standard
established in section 15-1-304, C.R.S., the income is at least comparable to income
available on investments or deposits of moneys in the state highway supplementary
fund, and the investment will assist the department in the financing of the projects
or purposes for which the notes were issued.

Legislative History

Source: L. 2005: Entire article added, p. 756, � 1, effective June 1.