C.R.S. Section 43-4-609
Bonds

(1)

The authority may, from time to time, issue bonds for any of its corporate purposes. The authority shall issue the bonds pursuant to resolution of the board, and the bonds shall be payable solely out of all or a specified portion of the revenues as designated by the board.

(2)

As provided in the resolution of the board under which the bonds are authorized to be issued or as provided in a trust indenture between the authority and any commercial bank or trust company having full trust powers, the bonds may:

(a)

Be executed and delivered by the authority at such times;

(b)

Be in such form and denominations and include such terms and maturities;

(c)

Be subject to optional or mandatory redemption prior to maturity with or without a premium;

(d)

Be in fully registered form or bearer form registrable as to principal or interest or both;

(e)

Bear such conversion privileges;

(f)

Be payable in such installments and at such times not exceeding forty years from the date thereof;

(g)

Be payable at such place or places whether within or without the state;

(h)

Bear interest at such rate or rates per annum, which may be fixed or vary according to index, procedure, or formula or as determined by the authority or its agents, without regard to any interest rate limitation appearing in any other law of the state;

(i)

Be subject to purchase at the option of the holder or the authority and be evidenced in such manner;

(j)

Be executed by the officers of the authority, including the use of one or more facsimile signatures so long as at least one manual signature appears on the bonds, which signatures may be either of an officer of the authority or of an agent authenticating the same;

(k)

Be in the form of coupon bonds that have attached interest coupons bearing a manual or facsimile signature of an officer of the authority; and

(l)

Contain such provisions not inconsistent with this part 6.

(3)

The bonds may be sold at public or private sale at such price or prices, in such manner, and at such times as determined by the board, and the board may pay all fees, expenses, and commissions that it deems necessary or advantageous in connection with the sale of the bonds. The power to fix the date of sale of the bonds, to receive bids or proposals, to award and sell bonds, to fix interest rates, and to take all other action necessary to sell and deliver the bonds may be delegated to an officer or agent of the authority. Any outstanding bonds may be refunded by the authority pursuant to article 56 of title 11, C.R.S. All bonds and any interest coupons applicable thereto are declared to be negotiable instruments.

(4)

The resolution or trust indenture authorizing the issuance of the bonds may pledge all or a portion of the revenues of the authority, may contain such provisions for protecting and enforcing the rights and remedies of holders of any of the bonds as the authority deems appropriate, may set forth the rights and remedies of the holders of any of the bonds, and may contain provisions that the authority deems appropriate for the security of the holders of the bonds, including, but not limited to, provisions for letters of credit, insurance, standby credit agreements, or other forms of credit ensuring timely payment of the bonds, including the redemption price or the purchase price.

(5)

Any pledge of revenues or property made by the authority or by any person or governmental unit with which the authority contracts shall be valid and binding from the time the pledge is made. The revenues or property so pledged shall immediately be subject to the lien of the pledge without any physical delivery or further act, and the lien of the pledge shall be valid and binding against all parties having claims of any kind in tort, contract, or otherwise against the pledging party, irrespective of whether such claiming party has notice of such lien. The instrument by which the pledge is created need not be recorded or filed.

(6)

Neither the directors of the board, employees of the authority, or any person executing the bonds shall be liable personally on the bonds or subject to any personal liability or accountability by reason of the issuance thereof.

(7)

The authority may purchase its bonds out of any available funds and may hold, pledge, cancel, or resell the bonds subject to and in accordance with agreements with the holders thereof.

Source: Section 43-4-609 — Bonds, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-43.­pdf (accessed Oct. 20, 2023).

43‑4‑201
Highway users tax fund - created 43‑4‑202
Definitions 43‑4‑203
Sources of revenue 43‑4‑204
Appropriation 43‑4‑205
Allocation of fund 43‑4‑206
State allocation 43‑4‑207
County allocation 43‑4‑208
Municipal allocation 43‑4‑209
Withholding municipal allocations 43‑4‑210
Estimated county allocations 43‑4‑211
Estimated municipal allocations 43‑4‑212
Payment of balances 43‑4‑213
Forfeiture of funds 43‑4‑214
Future municipalities eligible 43‑4‑216
Liability unaffected 43‑4‑217
Additional funding - road usage fees - rules - legislative declaration - definitions 43‑4‑218
Additional funding - retail delivery fee - fund created - simultaneous collection of enterprise fees - rules - legislative declaration - definitions 43‑4‑301
Legislative declaration 43‑4‑302
Powers of commission - contracts approval 43‑4‑401
Fund created 43‑4‑402
Source of revenues - allocation of money - special account created 43‑4‑403
Alcohol and drug impaired driving prevention enforcement program - minimum requirements 43‑4‑404
Formula for allocation of money - rules 43‑4‑501
Short title 43‑4‑502
Legislative declaration 43‑4‑503
Definitions 43‑4‑504
Creation of authorities 43‑4‑505
Board of directors 43‑4‑506
Powers of the authority - inclusion or exclusion of property - determination of public highway alignment 43‑4‑506.5
Traffic laws - toll collection 43‑4‑507
Local improvement districts 43‑4‑508
Value capture areas 43‑4‑509
Bonds 43‑4‑510
Cooperative powers 43‑4‑511
Powers of governmental units 43‑4‑512
Referendum 43‑4‑513
Notice - opportunity for comment 43‑4‑514
Notice - coordination of information - report 43‑4‑515
Successor to prior entity - assumption of obligations and liabilities - action for mandamus or injunctive relief 43‑4‑516
Agreement of the state not to limit or alter rights of obligees 43‑4‑517
Investments 43‑4‑518
Bonds eligible for investment 43‑4‑519
Exemption from taxation - securities laws 43‑4‑520
No action maintainable 43‑4‑521
Termination of revenue-raising powers 43‑4‑522
Judicial examination of powers, acts, proceedings, or contracts of an authority 43‑4‑601
Short title 43‑4‑602
Definitions 43‑4‑603
Creation of authorities - exercise of powers of an authority by transportation planning organization 43‑4‑604
Board of directors 43‑4‑605
Powers of the authority - inclusion or exclusion of property - determination of regional transportation system alignment - fund created - repeal 43‑4‑605.5
Preservation of state highway funding - legislative declaration 43‑4‑606
Establishment of regional transportation activity enterprises 43‑4‑607
Traffic laws - toll collection 43‑4‑607.5
Streetscape enhancements - local and private authority 43‑4‑608
Local improvement districts 43‑4‑609
Bonds 43‑4‑610
Cooperative powers 43‑4‑611
Powers of governmental units 43‑4‑612
Referendum 43‑4‑613
Notice - opportunity for comment 43‑4‑614
Notice - coordination of information 43‑4‑615
Agreement of the state not to limit or alter rights of obligees 43‑4‑616
Investments 43‑4‑617
Bonds eligible for investment 43‑4‑618
Exemption from taxation - securities laws 43‑4‑619
No action maintainable 43‑4‑620
Judicial examination of powers, acts, proceedings, or contracts of an authority 43‑4‑621
Calculation of fiscal year spending limit - first full fiscal year’s spending as base 43‑4‑622
Exercise of authority powers by transportation planning organization 43‑4‑701
Legislative declaration 43‑4‑702
Definitions 43‑4‑703
Submission of ballot question regarding issuance of transportation revenue anticipation notes 43‑4‑704
Powers of executive director 43‑4‑705
Revenue anticipation notes - ballot issue - repeal 43‑4‑706
Financial obligations subject to annual budget allocation 43‑4‑707
Note proceeds 43‑4‑708
Investments 43‑4‑709
Powers of political subdivisions 43‑4‑710
Notes legal investments 43‑4‑711
Exemption from taxation 43‑4‑712
No action maintainable 43‑4‑713
Annual reports 43‑4‑715
Construction of part 43‑4‑801
Short title 43‑4‑802
Legislative declaration 43‑4‑803
Definitions 43‑4‑804
Highway safety projects - surcharges and fees - crediting of money to highway users tax fund - definition 43‑4‑805
Statewide bridge enterprise - creation - board - funds - powers and duties - legislative declaration - definitions 43‑4‑806
High-performance transportation enterprise - creation - board - funds - powers and duties - limitations - reporting requirements - violations on the peak period shoulder lanes - legislative declaration - definitions 43‑4‑807
Bonds - investments - bonds eligible for investment and exempt from taxation 43‑4‑808
Toll highways - special provisions - limitations 43‑4‑809
Enterprises - applicability of other laws 43‑4‑810
Fees and surcharges - limitations on use 43‑4‑811
Transit and rail division - funding for local transit grants 43‑4‑812
Use of user fees for transit - legislative declaration 43‑4‑814
Military deployment - motor vehicle fees exempted - penalty 43‑4‑901
High-visibility alcohol and drug impaired driving enforcement 43‑4‑902
Local high-visibility alcohol and drug impaired driving enforcement - qualified program - report - rules 43‑4‑903
High-visibility alcohol and drug impaired driving enforcement funding 43‑4‑1101
Legislative declaration 43‑4‑1102
Definitions 43‑4‑1103
Multimodal transportation options fund - creation - revenue sources for fund - use of fund 43‑4‑1201
Legislative declaration 43‑4‑1202
Definitions 43‑4‑1203
Clean transit enterprise - creation - board - powers and duties - rules - fees - fund 43‑4‑1301
Legislative declaration 43‑4‑1302
Definitions 43‑4‑1303
Nonattainment area air pollution mitigation enterprise - creation - board - powers and duties - rules - fees - fund 43‑4‑1401
Definitions 43‑4‑1402
Colorado wildlife safe passages fund - creation - use of fund - report 43‑4‑1501
Legislative declaration 43‑4‑1502
Definitions 43‑4‑1503
Fuels impact enterprise - creation - powers and duties 43‑4‑1504
Fuels impact enterprise cash fund - definition 43‑4‑1505
Fuels impact reduction fee 43‑4‑1506
Fuels impact reduction grant program 43‑4‑1507
Repeal of part
Green check means up to date. Up to date

Current through Fall 2024

§ 43-4-609’s source at colorado​.gov