§ 24-75-601 — Definitions

Colorado § 24-75-601

• Jurisdiction: Colorado
• Title 24: Government
• Art.: State Funds

Text

As used in this part 6, unless the context otherwise
requires:

(1) Public entity means the state of Colorado; any institution, agency,
instrumentality, authority, county, municipality, city and county, district, or other
political subdivision of the state, including any school district and institution of
higher education; any institution, department, agency, instrumentality, or authority
of any of the foregoing, including any county or municipal housing authority; any
local government investment pool organized pursuant to part 7 of this article; any
public entity insurance pool organized pursuant to state law; and any other entity,
organization, or corporation formed by intergovernmental agreement or other
contract between or among any of the foregoing.

(2) Public funds means any funds in the custody, possession, or control of a
public entity; any funds over which a public entity has investment control; any funds
over which a public entity would have investment control but for the entity's
delegation of that control to another person; and any funds over which another
person exercises investment control on behalf of or for the benefit of a public
entity. Public funds includes, but is not limited to, proceeds of the sale of
securities of a public entity and proceeds of certificates of participation or other
securities evidencing rights in payments to be made by a public entity under a
lease, financed purchase of an asset agreement, certificate of participation
agreement, or other similar arrangement, regardless of whether such proceeds are
held by the public entity, a third-party trustee, or any other person. Public funds
shall not include funds invested by the public employees' retirement association
created in article 51 of this title 24 or any other funds invested for employee
retirement or pensions. Public funds shall also not include trusts managed on
behalf of the board of education of a school district coterminous with a city and
county for the benefit of a retiree's health insurance and teacher compensation.

(2.5) (Deleted by amendment, L. 2006, p. 551, � 2, effective August 7, 2006.)

(3) Security means any bill, note, bond, bankers' acceptance, commercial
paper, repurchase agreement, reverse repurchase agreement, securities lending
agreement, guaranteed investment contract, guaranteed interest contract, annuity
contract, funding agreement, certificate of indebtedness or other evidence of
indebtedness, or interest in any of the foregoing. No foregoing instrument shall be
convertible to equity or represent any equity interest. All foregoing instruments
shall be denominated in the currency of the United States.

(4) Nationally recognized statistical rating organizations or NRSROs
means credit rating agencies that are registered with the U.S. securities and
exchange commission's office of credit ratings.

(5) Negotiable certificate of deposit means an unsecured,
noncollateralized obligation of a bank to pay the holder of a negotiable certificate
of deposit specified principal, plus interest, upon a particular maturity. A negotiable
certificate of deposit is a security subject to federal securities law and can be
uniquely identified by a security identifier issued by the committee on uniform
securities identification procedures.

Legislative History

Source: L. 37: p. 799, �� 1, 2. CSA: C. 176, � 126(1). CRS 53: � 83-1-1. C.R.S. 1963: � 83-1-1. L. 65: p. 848, � 1. L. 69: p. 688, � 1. L. 71: p. 948, � 1. L. 75: (3) amended, p. 392, � 6, effective July 14. L. 83: (1.5) added, p. 1007, � 1, effective April 28. L. 89: Entire section R&RE, p. 1101, � 1, effective July 1. L. 2000: (2.5) added, p. 182, � 1, effective August 2. L. 2006: Entire section amended, p. 551, � 2, effective August 7. L. 2019: (4) and (5) added, (HB 19-1179), ch. 279, p. 2620, � 1, effective August 2. L. 2021: (2) amended, (HB 21-1316), ch. 325, p. 2032, � 44, effective July 1.