§ 25-8.5-112 — Power to issue bonds

Colorado § 25-8.5-112

• Jurisdiction: Colorado
• Title 25: Public
• Art.: Cherry Creek Basin Water Quality Authority

Text

To carry out the purposes of this article,
the board is authorized to issue revenue or assessment bonds of the authority.
Bonds shall bear interest at a rate such that the net effective interest rate of the
issue of bonds does not exceed the maximum interest rate set forth in the
resolution adopted by the board authorizing the issuance of the bonds, payable
semiannually, and shall be due and payable serially, either annually or
semiannually, commencing not later than three years after date of issuance. The
form and terms of said bonds, including provisions for their payment and
redemption, shall be determined by the board. If the board so determines, such
bonds may be redeemable prior to maturity upon payment of a premium not
exceeding three percent of the principal thereof. Said bonds shall be executed in
the name and on behalf of the authority, signed by the chairman of the board with
the seal of the authority affixed thereto, and attested by the secretary of the board.
Said bonds shall be in such denominations as the board shall determine, and the
bonds and coupons shall bear the original or facsimile signature of the chairman of
the board.

Legislative History

Source: L. 88: Entire article added, p. 1036, � 1, effective April 28.