Title 11, Financial Institutions
0 chapters · 699 sections in this title.
Colo. Rev. Stat. § 11-54-114 Incontestable recital in public securities
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Any ordinance authorizing, or any trust indenture or other instrument appertaining to, any public securities under this article may provide that each authorized public security shall recite that it is issued under authority of this article. Such recital shall conclusively impart …
Colo. Rev. Stat. § 11-54-115 Cumulative and continuing rights of holders of public securities
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(1) No right or remedy conferred upon any holder of any public security or of any coupon appertaining thereto or any trustee for such holder by this article or by any other law or proceedings appertaining thereto is exclusive of any other right or remedy, but each such right or r…
Colo. Rev. Stat. § 11-54-116 Construction of article
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The powers conferred by this article shall be in addition and supplemental to and not in substitution for, and the limitations imposed by this article shall not affect, the powers conferred by any other law. Public securities may be issued under this article without regard to the…
Colo. Rev. Stat. § 11-54-117 Validation
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All outstanding refunding public securities of the state and of all public bodies thereof, and all acts and proceedings had or taken, or purportedly had or taken prior to April 27, 1963, by or on behalf of the state or any public body thereof under law or under color of law preli…
Colo. Rev. Stat. § 11-54-118 Effect - limitations
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This article shall operate to supply such legislative authority as may be necessary to validate any refunding public security issued and any such acts and proceedings taken prior to April 27, 1963, which the general assembly could have supplied or provided for in the law under wh…
Colo. Rev. Stat. § 11-54-119 Liberal construction
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This article being necessary to secure the public health, safety, convenience, and welfare, it shall be liberally construed to effect its purposes. Source: L. 63: p. 897, � 19. C.R.S. 1963: � 125-8-19. PUBLIC SECURITIES
Colo. Rev. Stat. § 11-55-101 Short title
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Sections 11-55-101 to 11-55-106 shall be known and may be cited as the Uniform Facsimile Signature of Public Officials Act. Source: L. 69: R&RE, p. 1082, � 1. C.R.S. 1963: � 125-6-1.
Colo. Rev. Stat. § 11-55-102 Definitions
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As used in this article, unless the context otherwise requires: (1) Authorized officer means any official of this state or any of its departments, agencies, institutions, or other instrumentalities, or any of its political subdivisions, whose signature to a public security or ins…
Colo. Rev. Stat. § 11-55-103 Facsimile signature
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(1) Any authorized officer, after filing with the secretary of state his manual signature certified by him under oath, may execute or cause to be executed with a facsimile signature in lieu of his manual signature: (a) Any public security, but at least one signature required or p…
Colo. Rev. Stat. § 11-55-104 Use of facsimile seal
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When the seal of this state or of any of its departments, agencies, institutions, or other instrumentalities, or of any of its political subdivisions, is required in the execution of a public security or instrument of payment, the authorized officer may cause the seal to be print…
Colo. Rev. Stat. § 11-55-105 Violation - penalty
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Any person who with intent to defraud uses on a public security or an instrument of payment: A facsimile signature, or any reproduction of it, of any authorized officer; or any facsimile seal, or any reproduction of it, of this state or any of its departments, agencies, instituti…
Colo. Rev. Stat. § 11-55-106 Uniformity of interpretation
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This article shall be so construed as to effectuate its general purpose to make uniform the law of those states which enact it. Source: L. 69: R&RE, p. 1083, � 1. C.R.S. 1963: � 125-6-6.
Colo. Rev. Stat. § 11-55-107 Limitations on actions brought
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(1) No action based upon any public security authorized and issued on or after July 1, 1969, shall be commenced more than eighteen years after the final maturity date of the issue of which such public security is one. (2) No action based upon any public security issued prior to J…
Colo. Rev. Stat. § 11-55-108 Trust or fiduciary relationship between issuer and holder
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Any trust or fiduciary relationship between the issuer of any public security and the holder thereof, regarding the principal of or interest on such security, shall be conclusively presumed to have been repudiated on the maturity date of such security unless the same is presented…
Colo. Rev. Stat. § 11-55-109 Moneys to revert to general or other fund
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Any public moneys from whatever source derived remaining in any fund or account reserved, pledged, or otherwise held for payment of the principal of or interest on any public security on which action for collection has been barred shall revert to the general fund of the issuing a…
Colo. Rev. Stat. § 11-55-110 Payment authorized although suit for recovery barred
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Nothing contained in sections 11-55-107 to 11-55-110 shall be so construed as to prevent the payment of any public security, or the interest having accrued thereon prior to or at its maturity, after the period specified in section 11-55-107 has passed, and the issuing body of suc…
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.
Colo. Rev. Stat. § 11-57-101 Applicability
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This article applies to bonds, notes, warrants, certificates, or other securities evidencing loans or the advancement of moneys, to be issued by or on behalf of the state or any political subdivision thereof or any district, public board, commission, authority, or other public bo…
Colo. Rev. Stat. § 11-57-102 Form - payment and transfer of securities
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The securities described in section 11-57-101 shall be in such registered or bearer form, with or without interest coupons; be subject to such conditions for transfer; be subject to such provisions for conversion as to denomination or to bearer or registered form; be made registe…
Colo. Rev. Stat. § 11-57-103 Determination by resolution or ordinance
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The determination of the body authorized or empowered to issue such securities required by section 11-57-102 shall be made in the resolution or ordinance authorizing the issuance of such securities or in any ordinance, resolution, or other instrument supplemental thereto. Source:…
Colo. Rev. Stat. § 11-57-104 No restriction on other acts
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This article shall constitute an additional and separate grant of powers which may be exercised without regard to any other act which contains the same subject matter; except that this article shall not be deemed to be a restriction or limitation on the exercise of powers by an i…
Colo. Rev. Stat. § 11-57-105 Records - registered public obligations
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Records, with regard to the ownership of or security interests in registered public obligations, shall not be subject to inspection or copying under any law of this state relating to the right of the public to inspect or copy public records, notwithstanding any law to the contrar…
Colo. Rev. Stat. § 11-57-201 Short title
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This part 2 shall be known and may be cited as the Supplemental Public Securities Act. Source: L. 2000: Entire part added, p. 133, � 1, effective August 2.
Colo. Rev. Stat. § 11-57-202 Legislative declaration
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The general assembly hereby finds, determines, and declares that, due to the changes in the public securities market and recent technological developments, it is important to provide public entities with the option to elect to apply the provisions of this part 2 when issuing secu…
Colo. Rev. Stat. § 11-57-203 Definitions
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As used in this part 2, unless the context otherwise requires: (1) Act of issuance means an ordinance, resolution, or decision to issue a security pursuant to delegated authority adopted by the issuing authority or officer of a public entity for the purpose of issuing a security …
Colo. Rev. Stat. § 11-57-204 Election of applicability
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(1) This part 2 is applicable to securities issued by any public entity if the issuing authority of such public entity elects in an act of issuance to apply all or any of the provisions of this part 2 to the issuance of such securities. If a public entity elects to apply a provis…
Colo. Rev. Stat. § 11-57-205 Delegation of authority
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(1) The issuing authority of a public entity may, in the act of issuance, at any time, delegate to any member of the issuing authority, chief executive officer, or chief financial officer of the public entity the authority to sign a contract for the purchase of the securities or …
Colo. Rev. Stat. § 11-57-206 Fixed and variable rates of interest for securities - agreement with third party for interest determinations
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The act of issuance authorizing the issuance of any securities or any trust indenture or other instrument created by such act of issuance may fix a rate or rates of interest, or provide for the determination of the rate or rates from time to time, by a designated agent according …
Colo. Rev. Stat. § 11-57-207 Denomination, maturity, interest, and negotiability of securities - rate of interest
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(1) Any securities issued may: (a) Mature at such time or times as determined by the public entity or as provided in section 11-57-205, not to exceed forty years; (b) Bear interest at a rate or rates payable or compoundable at such intervals as determined by the public entity or …
Colo. Rev. Stat. § 11-57-208 Pledged revenues received or credited subject to immediate lien - priority and validity of lien
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(1) A public entity may pledge all or any portion of its revenues to the payment of its securities unless the use of any of such revenues is restricted by other laws of the state. In pledging the proceeds of an ad valorem property tax, an issuing authority may limit the rate of t…
Colo. Rev. Stat. § 11-57-209 Recourse against public entities officers and agents - acceptance of securities constitutes waiver and release
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If a member of the issuing authority, or any officer or agent of the public entity acts in good faith, no civil recourse shall be available against such member, officer, or agent for payment of the principal, interest, or prior redemption premiums. Such recourse shall not be avai…
Colo. Rev. Stat. § 11-57-210 Recital in securities conclusive evidence of validity and regularity of issuance
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An act of issuance providing for the issuance of public securities or an indenture may provide that the securities shall contain a recital that they are issued pursuant to the supplemental public securities act. Such recital shall be conclusive evidence of the validity and the re…
Colo. Rev. Stat. § 11-57-211 Meetings aided by telecommunications devices
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The act of issuance authorizing the issuance of securities may be adopted by the issuing authority at a meeting where one or more members of the issuing authority may participate in such meeting and may vote on such act of issuance through the use of telecommunications devices. S…