§ 37-48-111 — Investment of surplus funds

The board of directors of said
district may invest any surplus funds of the district, including any amounts in the
construction fund 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 has 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 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. 67: p. 668, � 1. C.R.S. 1963: � 150-10-11. L. 75: Entire section amended, p. 1371, � 4, effective July 18. L. 89: Entire section amended, p. 1125, � 54, effective July 1.