§ 11-54-101. Short Title

This article shall be known and may be cited as the “Refunding Revenue Securities Law”. Source: L. 63: p. 886, § 7. C.R.S. 1963: § 125-8-1.

§ 11-54-102. Definitions

As used in this article, unless the context otherwise requires: “Facility” means any of the facilities or properties, revenues derived from the operation of which are pledged to the payment of public securities. Repealed. “Governing body” means the city council, commission, board of county commissioners, board of trustees, board of directors, or other legislative body […]

§ 11-54-103. Refunding Public Securities

Any public securities issued by the state, or any public body thereof, may be refunded, without an election, by the state or public body issuing them, or any successor thereof, in the name of the state or public body issuing the public securities being refunded, but subject to provisions concerning their payment and to any […]

§ 11-54-104. Method of Issuance

Any public securities issued for refunding purposes either may be delivered in exchange for the outstanding public securities being refunded or may be publicly or privately sold. Source: L. 63: p. 888, § 4. C.R.S. 1963: § 125-8-4.

§ 11-54-105. Limitations Upon Issuance

No public securities may be refunded under this article unless the holders thereof voluntarily surrender them for exchange or payment, or unless they either mature or are callable for prior redemption under their terms within ten years from the date of issuance of the refunding public securities. Provision shall be made for paying the public […]

§ 11-54-106. Use of Proceeds of Refunding Public Securities

The proceeds of refunding public securities shall either be immediately applied to the retirement of the public securities to be 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 public securities […]

§ 11-54-107. Payment of Refunding Public Securities

Refunding public securities may be made payable from any revenues derived from any utility, system, project, or other source which might be legally pledged for the payment of the public securities being refunded at the time of the refunding or at the time of the issuance of the public securities being refunded, as the governing […]

§ 11-54-108. Combination of Refunding and Other Public Securities

Public securities for refunding and public securities for any other authorized purpose may be issued separately or issued in combination in one series or more by the same issuer. Source: L. 63: p. 889, § 8. C.R.S. 1963: § 125-8-8.

§ 11-54-109. Supplemental Provisions

Except as specifically provided or necessarily implied in this article, the relevant provisions in this article appertaining generally to the public securities being refunded shall be equally applicable in the authorization and issuance of refunding public securities, including their terms and security, the public security ordinance, trust indenture, use and service charges, and other aspects […]

§ 11-54-110. Governing Body’s Determination Final

The determination of the governing body of the issuer that the limitations under this article imposed upon the issuance of refunding public securities have been met shall be conclusive in the absence of fraud or arbitrary and gross abuse of discretion. Source: L. 63: p. 891, § 10. C.R.S. 1963: § 125-8-10.

§ 11-54-111. Public Security Provisions

Public securities, including refunding public securities issued under this article and local district college revenue securities issued under the provisions of article 71 of title 23, C.R.S., shall bear interest at a rate such that the net effective interest rate of the issue of refunding public securities or local district college revenue securities does not […]

§ 11-54-112. Signatures on Public Securities

The public securities and any coupons bearing the signatures of officers in office on the date of the signing thereof shall be valid and binding obligations of the issuer, notwithstanding that before the delivery thereof and payment therefor any of the persons whose signatures appear thereon shall have ceased to be officers of the issuer. […]

§ 11-54-113. Covenants in Authorizing Ordinance

Any ordinance authorizing the issuance of public securities under this article, or any trust indenture or other instrument appertaining thereto, may contain covenants as to: The rates, fees, tolls, and charges to be charged for the services and commodities of the facilities, revenues derived from the operation of which are pledged for the payment of […]

§ 11-54-114. Incontestable Recital in Public Securities

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 full compliance with all of the provisions of this article, and all public securities […]

§ 11-54-115. Cumulative and Continuing Rights of Holders of Public Securities

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 remedy is cumulative and in addition […]

§ 11-54-116. Construction of Article

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 provisions of any other law, except as otherwise […]

§ 11-54-117. Validation

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 preliminary to and in […]

§ 11-54-118. Effect – Limitations

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 which such public securities were issued and such acts […]

§ 11-54-119. Liberal Construction

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.