Colorado § 29-3-119 No county or municipal operation

Colorado Statutes

§ 29-3-119 — No county or municipal operation

Colorado·Title 29 Government·Art. County and Municipality

(1)When all principal of, interest on, and any prior redemption premium due in connection with the bonds issued for a project leased to a user have been paid in full and in the event the option to purchase or option to renew the lease, if any, contained in the lease has not been exercised as to all of the property contained in the project, the lease shall terminate and the county or municipality shall sell such remaining property or devote the same to county or municipal purposes other than manufacturing, commercial, or industrial.

(2)Any such sale which is not made pursuant to the exercise of an option to purchase by the user of a project shall be conducted in the same manner as is then provided by law governing the issuer's sale of surplus property.

Free access — add to your briefcase to read the full text and ask questions with AI

(1) When all principal of,
interest on, and any prior redemption premium due in connection with the bonds
issued for a project leased to a user have been paid in full and in the event the
option to purchase or option to renew the lease, if any, contained in the lease has
not been exercised as to all of the property contained in the project, the lease shall
terminate and the county or municipality shall sell such remaining property or
devote the same to county or municipal purposes other than manufacturing,
commercial, or industrial.

(2) Any such sale which is not made pursuant to the exercise of an option to
purchase by the user of a project shall be conducted in the same manner as is then
provided by law governing the issuer's sale of surplus property.

Colorado § 29-3-119 (No county or municipal operation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.