§ 37-50-137 — Investments and securities

Colorado § 37-50-137

• Jurisdiction: Colorado
• Title 37: Water and
• Art.: Republican River Water Conservation District

Text

(1) The board, subject to
contractual limitations from time to time imposed upon the district by a resolution
authorizing the issuance of the outstanding bonds of the district, a trust indenture,
or other related proceedings, may invest and reinvest proceeds of taxes, pledged
revenues, and proceeds of bonds issued under this article in securities meeting the
investment requirements established in part 6 of article 75 of title 24, C.R.S., and
may deposit such proceeds in any trust bank, secured in such manner and subject
to such terms and conditions as the board may determine, with or without the
payment of any interest on such deposit, including, without limitation, time deposits
evidenced by certificates of deposit.

(2) Such securities and certificates of deposit thus held may, from time to
time, be sold and the proceeds may be so reinvested or redeposited as provided in
this section.

(3) Sales and redemptions of such securities and certificates of deposit thus
held shall, from time to time, be made so that the proceeds may be applied to the
purposes for which the money with which such securities and certificates of deposit
were originally acquired.

(4) Gains from such investments or reinvestments may be credited to any
fund or account pledged for the payment of district bonds issued under this article,
including any applicable reserve, any other fund or account pertaining to a project
or facility, or the district's general fund, subject to contractual limitations in a
proceeding pertaining to outstanding district bonds.

(5) It is lawful for a commercial bank incorporated under the laws of this
state that may act as depository of the proceeds of bonds issued under this article,
securities owned by the district, proceeds of taxes, pledged revenues, and moneys
otherwise pertaining to a project, facilities, or any combination, to furnish such
indemnifying bonds and to pledge such securities as may be required by the board.

Legislative History

Source: L. 2004: Entire article added, p. 1926, � 1, effective August 4.