Colorado § 29-4-724 Refunding bonds

Colorado Statutes

§ 29-4-724 — Refunding bonds

Colorado·Title 29 Government·Art. Housing

(1)The board may provide for the issuance of refunding obligations of the authority for the purpose of refunding any obligations then outstanding that have been issued under this part 7 or issued by other public entities, including the payment of any redemption premium thereon and any interest accrued or to accrue to the date of redemption of such obligations, and for any corporate purpose of the authority.

(2)Refunding obligations issued as provided in subsection (1) of this section may be sold or exchanged for outstanding obligations being refunded, and, if sold, the proceeds thereof may be applied, in addition to any other authorized purposes, to the purchase, redemption, or payment of such outstanding obligations. Pending the application of the proceeds of any such refundin

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(1) The board may provide for the issuance of
refunding obligations of the authority for the purpose of refunding any obligations
then outstanding that have been issued under this part 7 or issued by other public
entities, including the payment of any redemption premium thereon and any
interest accrued or to accrue to the date of redemption of such obligations, and for
any corporate purpose of the authority.

(2) Refunding obligations issued as provided in subsection (1) of this section
may be sold or exchanged for outstanding obligations being refunded, and, if sold,
the proceeds thereof may be applied, in addition to any other authorized purposes,
to the purchase, redemption, or payment of such outstanding obligations. Pending
the application of the proceeds of any such refunding obligations, with any other
available funds, to the payment of the principal, the accrued interest, and any
redemption premium on the obligations being refunded and, if so provided or
permitted in the resolution authorizing the issuance of such refunding obligations
or in the trust agreement securing the same, to the payment of any interest on such
refunding obligations and any expenses in connection with such refunding, such
proceeds may be invested in securities meeting the investment requirements
established by the authority, which shall mature or which shall be subject to
redemption by the holders thereof, at the option of such holders, not later than the
respective dates when the proceeds, together with the interest accruing thereon,
will be required for the purposes intended.

Colorado § 29-4-724 (Refunding bonds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 73: p. 814, � 1. C.R.S. 1963: � 69-11-19. L. 75: Entire section R&RE, p. 981, � 13, effective April 9. L. 89: (2) amended, p. 1113, � 21, effective July 1. L. 2007: Entire section amended, p. 710, � 12, effective May 3.