§ 32-7-120 — Power to issue revenue bonds - terms

To carry out the purposes
of this article, the board is authorized to issue negotiable coupon bonds payable
solely from the revenues derived, or to be derived, from the facility or combined
facilities of the service authority. The terms, conditions, and details of said bonds,
the procedures related thereto, and the refunding thereof shall be substantially the
same as those provided in part 4 of article 35 of title 31, C.R.S., relating to water
and sewer revenue bonds; except that the purposes for which the same may be
issued shall not be so limited. Revenue bonds issued under this article shall not
constitute an indebtedness within the meaning of any constitutional or statutory
limitation or other provision. Each bond issued under this section shall recite in
substance that said bond, including the interest thereon, is payable solely from the
revenues pledged for the payment thereof and that said bond does not constitute a
debt of the service authority within the meaning of any constitutional or statutory
limitations or provisions. Such revenue bonds may be issued to mature at such time,
not exceeding the estimated life of the facility to be acquired with the bond
proceeds, as determined by the board, but in no event beyond thirty years from
their respective dates.

Legislative History

Source: L. 72: p. 468, � 1. C.R.S. 1963: � 89-25-20.