C.R.S. Section 37-50-134
Covenants and other provisions in bonds

(1)

A resolution providing for the issuance of bonds under this article, payable from pledged revenues and an indenture or other related instrument or proceedings, may at the discretion of the board contain covenants or other provisions, notwithstanding that such covenants and provisions may limit the exercise of powers conferred by this article, in order to secure the payment of such bonds, in agreement with the holders of such bonds, including, without limitation, covenants or other provisions as to any one or more of the following:

(a)

The pledged revenues and, in the case of general obligations, the taxes to be fixed, charged, or levied and their collection, use, and disposition, including, without limitation, the foreclosure of liens for delinquencies; the discontinuance of services, facilities, or use of any properties or facilities; prohibition against free service; the collection of penalties and collection costs; and the use and disposition of any moneys of the district, derived or to be derived, from any source designated;

(b)

The acquisition, improvement, or equipment of all or any part of properties pertaining to any project or any facilities;

(c)

The creation and maintenance of reserves or sinking funds to secure the payment of the principal and interest on any bonds or of the operation and maintenance expenses of any facilities, or part thereof, and the source, custody, security, regulation, use, and disposition of any such reserves or funds, including, without limitation, the related powers and duties of any trustee;

(d)

Limitations on the powers of the district to acquire or operate, or permit the acquisition or operation of, structures, facilities, or properties that may compete or tend to compete with any facilities;

(e)

The vesting in a corporate or other trustee or trustees of such property, rights, powers, and duties in trust as the board may determine, which may include any or all of the rights, powers, and duties of the trustee appointed by the holders of bonds, and limiting or abrogating the rights of such holders to appoint a trustee, or limiting the rights, duties, and powers of such trustee;

(f)

Events of default, rights, and liabilities arising from events of default and the rights, liabilities, powers, and duties arising upon the breach by the district of any covenants, conditions, or obligations;

(g)

The terms and conditions upon which the holders of the bonds or of a specified portion, percentage, or amount of the bonds, or any trustee for the holders, shall be entitled to the appointment of a receiver, which receiver may enter, take possession of, operate, and maintain any facilities or service; prescribe fees, rates, and other charges; and collect, receive, and apply all resulting revenues in the same manner as the district itself might do;

(h)

A procedure by which the terms of any resolution authorizing bonds or any other contract with any holders of district bonds, including, without limitation, an indenture of trust or similar instrument, may be amended or abrogated, and as to the proportion, percentage, or amount of bonds the holders of which must consent thereto, and the manner in which such consent may be given;

(i)

The terms and conditions upon which any or all of the bonds shall become or may be declared due before maturity and as to the terms and conditions upon which such declaration and its consequences may be waived; and

(j)

All such acts and things as may be necessary, convenient, or desirable in order to secure the bonds or, in the discretion of the board, tend to make the bonds more marketable, notwithstanding that such covenant, act, or thing may not be enumerated in this article, it being the intention of this article to give to the board power to do in the name and on behalf of the district all things in the issuance of district bonds and for their security, except as expressly limited in this article.

Source: Section 37-50-134 — Covenants and other provisions in bonds, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-37.­pdf (accessed Oct. 20, 2023).

37‑50‑101
Legislative declaration 37‑50‑102
Definitions 37‑50‑103
Creation and name of district 37‑50‑104
Board of directors 37‑50‑105
Compensation of directors 37‑50‑106
Employees 37‑50‑107
General powers 37‑50‑108
Principal office - meetings 37‑50‑109
Authority of the board to levy taxes 37‑50‑110
Levy and collection of uniform sales and use tax 37‑50‑111
Limitations on power to levy and contract 37‑50‑112
Investment of unexpended revenues 37‑50‑113
Appointment and compensation of appraisers 37‑50‑114
Assessments - procedure in making 37‑50‑115
Collection by civil action 37‑50‑116
Assessments perpetual lien 37‑50‑117
Directors to remedy defects in assessments 37‑50‑118
Assessment record as evidence 37‑50‑119
Defects in notice perfected 37‑50‑120
Issuance of general obligation bonds 37‑50‑121
Costs - board of directors to concur 37‑50‑122
Sinking fund 37‑50‑123
Court confirmation 37‑50‑124
Election to authorize debt 37‑50‑125
Definition of elector 37‑50‑126
Elections 37‑50‑127
Election resolution 37‑50‑128
Conduct of election 37‑50‑129
Notice of election 37‑50‑130
Polling places 37‑50‑131
Election supplies 37‑50‑132
Election returns 37‑50‑133
Debt and tax levy election contests 37‑50‑134
Covenants and other provisions in bonds 37‑50‑135
Liens on pledged revenues 37‑50‑136
Rights - powers of holders of bonds - trustees 37‑50‑137
Investments and securities 37‑50‑138
Rents and charges 37‑50‑138.5
Prohibition on duplication of water use fees 37‑50‑139
Miscellaneous powers 37‑50‑140
Joint action entity 37‑50‑141
Refunding 37‑50‑142
Severability
Green check means up to date. Up to date

Current through Fall 2024

§ 37-50-134’s source at colorado​.gov