Colorado § 36-1-129 Bonds

Colorado Statutes

§ 36-1-129 — Bonds

Colorado·Title 36 Natural·Art. State Board of Land Commissioners

(1)When, in the judgment of the state board of land commissioners, a bond, a damage deposit, or earnest moneys by the purchaser of state lands is necessary, the board shall require the purchaser to give the financial warranty upon such conditions as the board may determine.

(2)(a) In leasing state lands for nonagricultural purposes, the state board of land commissioners shall require of the lessee a bond or damage deposit securing the state against loss of rents or other loss or waste, or occupation of the land for more than thirty days after the cancellation or expiration of the lease of the lessee, unless the lessee becomes the purchaser of the land, and the state board of land commissioners shall retain all interest earned on such a bond or damage deposit while held by the s

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(1) When, in the judgment of the state board of land
commissioners, a bond, a damage deposit, or earnest moneys by the purchaser of
state lands is necessary, the board shall require the purchaser to give the financial
warranty upon such conditions as the board may determine.

(2) (a) In leasing state lands for nonagricultural purposes, the state board of
land commissioners shall require of the lessee a bond or damage deposit securing
the state against loss of rents or other loss or waste, or occupation of the land for
more than thirty days after the cancellation or expiration of the lease of the lessee,
unless the lessee becomes the purchaser of the land, and the state board of land
commissioners shall retain all interest earned on such a bond or damage deposit
while held by the state board of land commissioners. In no case shall the lessee be
allowed to cut or use more timber than is necessary for the improvement of the land
or for fuel for the use of the family of the lessee; and the cutting and hauling of
timber to sawmills, to be sawed on shares, is expressly prohibited.

(b) A lessee of state lands shall not be required to post a bond if such lessee
is leasing state lands solely for agricultural purposes; except that a bond or
damage deposit may be required for state-owned improvements even if leased
solely for agricultural purposes.

(3) All bonds, damage deposits, and earnest moneys collected pursuant to
this article that the state board of land commissioners has deemed forfeited or
required for remediation activities shall be credited to the financial warranty
account of the state land board trust administration fund created in section 36-1-145 (2)(e). Moneys in the account, including interest earned on the forfeited bonds,
damage deposits, and earnest moneys deposited in the account, are continuously
appropriated for the remediation or other activities on the affected property.

Colorado § 36-1-129 (Bonds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 19: p. 649, � 22. C.L. � 1175. CSA: C. 134, � 74. CRS 53: � 112-3-30. C.R.S. 1963: � 112-3-30. L. 94: Entire section amended, p. 1682, � 1, effective May 31. L. 2010: Entire section amended, (HB 10-1165), ch. 124, p. 412, � 3, effective April 15. L. 2013: (2)(a) and (3) amended, (HB 13-1274), ch. 376, p. 2214, � 4, effective June 5.