Colorado § 37-46-129 Investment of surplus funds

Colorado Statutes

§ 37-46-129 — Investment of surplus funds

Colorado·Title 37 Water and·Art. Colorado River Water Conservation District

The board of directors of said
district may invest any surplus funds of the district, including any funds in the
construction fund assessment not needed for immediate use to pay the cost of
construction of any project in any one of the subdistricts or to pay bonds or coupons
or to meet current expenses, in securities meeting the investment requirements
established in part 6 of article 75 of title 24, C.R.S. The board of directors of said
district may require any funds of the district, or of any subdistrict, to be deposited
with such depository or bank as may be designated by the board and shall likewise
have authority to require the treasurer of the district to take from such depository a
bond with corporate surety to ensure payment of any such deposit or to require
such deposito

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The board of directors of said
district may invest any surplus funds of the district, including any funds in the
construction fund assessment not needed for immediate use to pay the cost of
construction of any project in any one of the subdistricts or to pay bonds or coupons
or to meet current expenses, in securities meeting the investment requirements
established in part 6 of article 75 of title 24, C.R.S. The board of directors of said
district may require any funds of the district, or of any subdistrict, to be deposited
with such depository or bank as may be designated by the board and shall likewise
have authority to require the treasurer of the district to take from such depository a
bond with corporate surety to ensure payment of any such deposit or to require
such depository to pledge securities of the same kind as those in which the district
is authorized to invest its funds to ensure payment of any such deposit.

Colorado § 37-46-129 (Investment of surplus funds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 37: p. 1027, � 28. CSA: C. 138, � 199(28). CRS 53: � 149-8-28. C.R.S. 1963: � 150-7-28. L. 89: Entire section amended, p. 1123, � 50, effective July 1.