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Current as of January 01, 2022 | Updated by FindLaw Staff
(1) A resolution pertaining to issuance of bonds under this part 3 may contain covenants as to:
(a) The purpose to which the proceeds of sale of the bonds may be applied and to the use and disposition thereof;
(b) The use and disposition of the revenues of the project for which the bonds are to be issued;
(c) Such matters as are customary in the issuance of revenue bonds including without limitation the issuance and lien position of other or additional bonds, payable from the net revenue received for the operation of the additional facilities acquired or provided pursuant to this part 3 and contributions from nonstate sources for such facilities;
(d) Books of account and the inspection and audit thereof.
(2) Any resolution made pursuant to the terms of this part 3 shall be deemed a contract with the holders of the bonds, and the duties of the board under such resolution shall be enforceable by any appropriate action in a court of competent jurisdiction.
Cite this article: FindLaw.com - Colorado Revised Statutes Title 35. Agriculture § 35-65-306. Provision of bond resolution--covenants - last updated January 01, 2022 | https://codes.findlaw.com/co/title-35-agriculture/co-rev-st-sect-35-65-306/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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