Colorado § 43-4-615 Agreement of the state not to limit or alter rights of obligees

Colorado Statutes

§ 43-4-615 — Agreement of the state not to limit or alter rights of obligees

Colorado·Title 43 Transportation·Art. Financing

The state hereby pledges and agrees with the holders of any bonds issued under
this part 6 and with those parties who enter into contracts with an authority or any
member of a combination or member of a transportation planning organization
exercising the powers of an authority as authorized by section 43-4-622 pursuant
to this part 6 that the state will not impair the rights vested in the authority or the
rights or obligations of any person with which the authority contracts to fulfill the
terms of any agreements made pursuant to this part 6. The state further agrees
that it will not impair the rights or remedies of the holders of any bonds of the
authority until the bonds have been paid or until adequate provision for payment
has been made. The authority may include this provisio

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

The state hereby pledges and agrees with the holders of any bonds issued under
this part 6 and with those parties who enter into contracts with an authority or any
member of a combination or member of a transportation planning organization
exercising the powers of an authority as authorized by section 43-4-622 pursuant
to this part 6 that the state will not impair the rights vested in the authority or the
rights or obligations of any person with which the authority contracts to fulfill the
terms of any agreements made pursuant to this part 6. The state further agrees
that it will not impair the rights or remedies of the holders of any bonds of the
authority until the bonds have been paid or until adequate provision for payment
has been made. The authority may include this provision and undertaking for the
state in the bonds.

Colorado § 43-4-615 (Agreement of the state not to limit or alter rights of obligees) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 97: Entire part added, p. 497, � 1, effective August 6. L. 2021: Entire section amended, (SB 21-260), ch. 250, p. 1436, � 42, effective June 17.