Colorado § 43-3-203 Bonds authorized

Colorado Statutes

§ 43-3-203 — Bonds authorized

Colorado·Title 43 Transportation·Art. Special Highway Construction

(1)For the purpose of defraying the cost of constructing, improving, or reconstructing any such turnpike and all expenses incidental thereto, including all engineering and legal fees and interest during construction and for one year thereafter, the department of transportation may, upon the affirmative majority vote of the entire membership of the transportation commission and with the approval of the general assembly evidenced by joint resolution of the senate and house of representatives, and signed by the governor, issue bonds of the state of Colorado, payable from a fund consisting of the fees, fares, and tolls derived from any designated turnpike project and with the approval of the general assembly evidenced by joint resolution of the senate and house of representatives, a

Free access — add to your briefcase to read the full text and ask questions with AI

(1) For the purpose of defraying the cost of
constructing, improving, or reconstructing any such turnpike and all expenses
incidental thereto, including all engineering and legal fees and interest during
construction and for one year thereafter, the department of transportation may,
upon the affirmative majority vote of the entire membership of the transportation
commission and with the approval of the general assembly evidenced by joint
resolution of the senate and house of representatives, and signed by the governor,
issue bonds of the state of Colorado, payable from a fund consisting of the fees,
fares, and tolls derived from any designated turnpike project and with the approval
of the general assembly evidenced by joint resolution of the senate and house of
representatives, additionally secured by a pledge of and payable from a special
fund set aside from the state highway fund, but the amount so set aside and
pledged shall not exceed in any one year one hundred percent of the total of the
following:

(a) The amount of principal and interest falling due during such year; and

(b) The amount required to be paid into the special sinking fund as a
reasonable reserve for the payment of the bonds authorized in this part 2 in
accordance with the resolution of the transportation commission authorizing their
issuance as approved by the joint resolution of the senate and house of
representatives.

Colorado § 43-3-203 (Bonds authorized) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 49: p. 603, � 3. CSA: C. 143, � 125(3). CRS 53: 120-8-3. L. 54: p. 155, � 4. L. 56, Ex. Sess.: p. 38, � 4. C.R.S. 1963: � 120-8-3. L. 84: IP(1) amended, p. 1112, � 2, effective April 9. L. 91: IP(1) and (1)(b) amended, p. 1113, � 163, effective July 1. L. 96: Entire section amended, p. 463, � 3, effective April 23.