§ 32-11-536 — Recitals in securities

Colorado § 32-11-536

• Jurisdiction: Colorado
• Title 32: Special
• Art.: Urban Drainage and Flood Control Act

Text

(1) The district securities issued under this
article, designated in section 32-11-501 (2), and constituting special obligations
shall recite in substance that the securities and the interest thereon are payable
solely from the net revenues pledged to the payment thereof.

(2) District securities issued under this article and constituting general
obligations shall pledge the full faith and credit of the district for their payment,
shall so state, and shall state that they are payable from taxes.

(3) General obligation district securities, the payment of which is additionally
secured by a pledge of revenues, shall recite in substance, in addition to the
statements required by subsection (2) of this section, that the payment of the
securities and the interest thereon is additionally secured by a pledge of the net
revenues or the gross revenues, as the case may be, designated in the securities.

Legislative History

Source: L. 69: p. 774, � 78. C.R.S. 1963: � 89-21-78.