C.R.S. Section 25-8.5-114
Use of proceeds of revenue refunding bonds

The proceeds of revenue refunding bonds shall either be immediately applied to the retirement of the bonds being refunded or be placed in escrow in any state or national bank within the state which is a member of the federal deposit insurance corporation to be applied to the payment of the bonds being refunded upon their presentation therefor; but, to the extent any incidental expenses have been capitalized, such refunding bond proceeds may be used to defray such expenses, and any accrued interest and any premium appertaining to a sale of refunding bonds may be applied to the payment of the interest thereon or the principal thereof, or both interest and principal, or may be deposited in a reserve therefor, as the board may determine. Any such escrow shall not necessarily be limited to proceeds of refunding bonds but may include other moneys available for its purpose. Any proceeds in escrow, pending such use, may be invested or reinvested in securities meeting the investment requirements established in part 6 of article 75 of title 24, C.R.S. Such proceeds and investments in escrow, together with any interest to be derived from any such investment, shall be in an amount at all times sufficient as to principal, interest, any prior redemption premium due, and any charges of the escrow agent payable therefrom to pay the bonds being refunded as they become due at their respective maturities or due at any designated prior redemption dates in connection with which the board shall exercise a prior redemption option. Any purchase of any refunding bond issued under this article shall in no manner be responsible for the application of the proceeds thereof by the authority or any of its officers, agents, or employees.

Source: Section 25-8.5-114 — Use of proceeds of revenue refunding bonds, https://leg.colorado.gov/sites/default/files/images/olls/crs2023-title-25.pdf (accessed May 26, 2025).

25–8.5–101
Legislative declaration 25–8.5–102
Definitions 25–8.5–103
Creation and organization 25–8.5–104
Boundaries of authority 25–8.5–105
Authority members 25–8.5–106
Board of directors 25–8.5–107
Voting 25–8.5–108
Ex officio members 25–8.5–109
Meetings 25–8.5–110
Powers of board - organization - administration 25–8.5–111
Powers of authority - general and financial 25–8.5–112
Power to issue bonds 25–8.5–113
Revenue refunding bonds 25–8.5–114
Use of proceeds of revenue refunding bonds 25–8.5–115
Facilities - comprehensive program 25–8.5–116
Coordination with drainage and flood control measures 25–8.5–117
Transfer of powers 25–8.5–118
Power to levy special assessments 25–8.5–119
Inclusion of property 25–8.5–120
Exclusion of property

Current through Fall 2025

§ 25-8.5-114. Use of proceeds of revenue refunding bonds's source at colorado.gov

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Location: https://colorado.public.law/statutes/crs_25-8.5-114

Original Source: Section 25-8.5-114 — Use of proceeds of revenue refunding bonds, https://leg.colorado.gov/sites/default/files/images/olls/crs2023-title-25.pdf (last accessed May 10, 2025).

C.R.S. Section 25-8.5-114 Use of proceeds of revenue refunding bonds

C.R.S. Section 25-8.5-114
Use of proceeds of revenue refunding bonds