§ 29-3-108 — Terms of proceedings and instruments

Colorado § 29-3-108

• Jurisdiction: Colorado
• Title 29: Government
• Art.: County and Municipality

Text

(1) The proceedings
under which the bonds are authorized to be issued and any mortgage or trust
indenture given to secure the same may contain any provisions customarily
contained in instruments securing bonds and constituting a covenant with the
bondholders, including, but not limited to:

(a) Provisions respecting custody of the proceeds from the sale of the bonds,
including their investment and reinvestment until used to defray the cost of the
project;

(b) Provisions respecting the fixing and collection of revenues from the
project;

(c) The terms to be incorporated in the financing agreement and any
mortgage or trust indenture for the project, including without limitation provision
for subleasing;

(d) The maintenance and insurance of the project;

(e) The creation of funds and accounts into which any bond proceeds,
revenues, and income may be deposited or credited;

(f) Limitation on the purpose to which the proceeds of any bonds then or
thereafter to be issued may be applied;

(g) Limitation on the issuance of additional bonds, the terms upon which
additional bonds are issued and secured, the refunding of bonds, and the
replacement of bonds;

(h) The procedure, if any, by which the terms of any contract with
bondholders may be amended or abrogated;

(i) Vesting in a trustee such properties, rights, powers, and duties in trust as
the county or municipality determines and limiting the rights, duties, and powers of
such trustees;

(j) The rights and remedies available in case of a default to the bondholders
or to any trustee under the financing agreement, a mortgage, or a trust indenture
for the project.

Legislative History

Source: L. 67: p. 673, � 8. C.R.S. 1963: � 36-24-8. L. 73: p. 478, � 8.