§ 37-47-129 — Investment of surplus funds

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 likewise shall 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.

Legislative History

Source: L. 41: p. 887, � 28. CSA: C. 173B, � 83. CRS 53: � 149-9-28. C.R.S. 1963: � 150-8-28. L. 89: Entire section amended, p. 1124, � 52, effective July 1.