§ 29-3-114 — Financing of project

Prior to the issuance of any bonds authorized
by this article, the county or municipality shall enter into a financing agreement
with respect to the project with a user providing for payment to the county or
municipality of such revenues as, upon the basis of such determinations and
findings, will be sufficient to pay the principal of and interest on the bonds issued to
finance the project, to build up and maintain any reserves deemed advisable by the
governing body in connection therewith, and to pay the costs of maintaining the
project in good repair and keeping it properly insured, unless the financing
agreement obligates the user to pay for the maintenance of and insurance on the
project.

Legislative History

Source: L. 67: p. 675, � 14. C.R.S. 1963: � 36-24-14. L. 73: p. 480, � 12.