Title 11, Financial Institutions
0 chapters · 699 sections in this title.
Colo. Rev. Stat. § 11-56-101 Short title
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This article shall be known and may be cited as the Public Securities Refunding Act. Source: L. 77: Entire article added, p. 582, � 1, effective July 1.
Colo. Rev. Stat. § 11-56-102 Legislative declaration - applicability
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The general assembly hereby declares that the orderly refunding of any revenue obligation or any general obligation bond and any other lawful general obligation indebtedness by any public body of the state, as defined in section 11-56-103 (7), when advantageous to the public body…
Colo. Rev. Stat. § 11-56-103 Definitions
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As used in this article, unless the context otherwise requires: (1) Escrow supplement means any funds or moneys (other than bond proceeds) of a public body, legally available for the purpose, which are placed in an escrow or trust account established under the provisions of this …
Colo. Rev. Stat. § 11-56-104 Purpose of refunding
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(1) A refunding of outstanding obligations of a public body may be accomplished pursuant to this article by the issuance of bonds for refunding, paying, and discharging all or any part of such outstanding obligations, including a portion of one or more issues of such obligations …
Colo. Rev. Stat. § 11-56-104.5 Disclosures by underwriters of financial matters related to refunding
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(1) (a) Whenever an underwriter proposes to refund the bonds of any public body, and competitive proposals have not been requested, the underwriter shall, simultaneously with the submission of the proposal, disclose, in writing, to the governing body of the public body, the entir…
Colo. Rev. Stat. § 11-56-105 General provisions - limitations
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(1) Any revenue obligations or general obligations issued or incurred by any public body may be refunded without an election by the public body issuing or incurring the same or any successor thereof, except as otherwise provided by this section, in the name of the public body whi…
Colo. Rev. Stat. § 11-56-106 Refunding with bonds of another type
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(1) Subject to the provisions of subsections (2), (3), and (4) of this section, nothing contained in this article shall be construed as authorizing a public body to issue any obligations constituting a debt or indebtedness for the purpose of refunding obligations which do not con…
Colo. Rev. Stat. § 11-56-107 Bond provisions
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(1) The sum of the principal amount of any refunding revenue bonds may exceed the principal amount of the revenue obligations to be refunded thereby by such amount as is useful to effect the refunding if the sum of the aggregate principal and net interest cost of the refunding re…
Colo. Rev. Stat. § 11-56-108 Application of bond proceeds - procedures - limitations
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(1) The proceeds derived from the issuance of refunding bonds under the provisions of this article, together with other legally available funds, if any, of the public body, shall either be immediately applied to the payment or redemption and retirement of the obligations to be re…
Colo. Rev. Stat. § 11-56-109 Proceeds of refunding bonds in escrow - investment - security - amounts
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(1) Moneys placed in any escrow or trust shall not necessarily be limited to proceeds of refunding bonds but may include other moneys legally available for the purpose. (2) Any moneys in escrow or trust, pending use for their intended purpose, may be invested or reinvested only i…
Colo. Rev. Stat. § 11-56-110 Sources of payment - limitations
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Refunding bonds, other than special obligation refunding bonds, may be made payable from, and the governing body may pledge to the payment of such refunding bonds, any tax, or any income or revenue of the public body from any source, or both such taxes and such income or revenue,…
Colo. Rev. Stat. § 11-56-111 Combination of refunding bonds and other bonds - limitations
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Any refunding bonds and bonds for any other purpose authorized by any other law may, in the discretion of the governing body, be issued separately or in combination in one or more series by the public body, subject, however, to the same limitations provided in section 11-56-105 (…
Colo. Rev. Stat. § 11-56-112 Special obligation refunding bonds
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(1) In addition to and in combination with the refunding bonds authorized by this article, the public body may concurrently issue special obligation refunding bonds, for the purpose of providing additional funds with which to accomplish the refunding of outstanding general obliga…
Colo. Rev. Stat. § 11-56-113 Tax exemption - exceptions
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(1) Except as otherwise provided in this article, all general obligation refunding bonds, refunding revenue bonds, and special obligation refunding bonds and the income therefrom shall be exempt from taxation, except inheritance, estate, and transfer taxes. (2) Bonds issued pursu…
Colo. Rev. Stat. § 11-56-114 Conclusive determination of governing body that statutory limitations have been met
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The determination of the governing body that the provisions and limitations, in this article and any other applicable law, imposed upon the issuance of any bonds under this article, have been met shall be conclusive in the absence of fraud or arbitrary and gross abuse of discreti…
Colo. Rev. Stat. § 11-56-115 Prior obligations not impaired
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Nothing in this article shall be construed in any manner so as to impair the obligations of any refunding bonds issued or any refunding transaction, consummated by a public body prior to the enactment of this article, or otherwise to invalidate any such bond, obligation, or refun…
Colo. Rev. Stat. § 11-56-116 Construction of this article
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The powers conferred by this article are in addition and supplemental to and not in substitution for, and the limitations imposed by this article shall not directly or indirectly modify, limit, or affect, the powers conferred by any other law. Bonds may be issued under this artic…
Colo. Rev. Stat. § 11-56-117 Liberal construction
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This article shall be liberally construed so that the legislative intent may be fulfilled. Source: L. 77: Entire article added, p. 593, � 1, effective July 1.