§ 37-50-112 — Investment of unexpended revenues

The board may invest any
unexpended revenues of the district, including any amounts in the construction
fund not needed for immediate use, to pay the cost of construction of any project,
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 may require any revenues of the district 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. 2004: Entire article added, p. 1914, � 1, effective August 4.