(Deleted by amendment, L. 2006, p. 608 , § 29, effective August 7, 2006.) The public school fund of the state shall consist of the proceeds of such lands as have been, or may be, granted to the state by the federal government for educational purposes; all estates that may escheat to the state; all […]
The public school fund shall forever remain inviolate and intact; the interest and income earned on the deposit and investment of the fund only shall be expended in the maintenance of the schools of the state and shall be distributed to the several school districts of the state in such manner as may be prescribed […]
There is hereby created the public school fund investment board, referred to in this section as the “board”. The board consists of five members, as follows: The state treasurer, who serves as chair; A member of the state board of land commissioners, appointed by majority vote of the commissioners; and Three members appointed by the […]
All lands, title to which has or may become vested in the state as the result of foreclosure proceedings, shall be designated as “public school fund lands” and shall be considered an investment of the public school fund. Such lands shall be under the control and direction of the state board of land commissioners and […]
The state treasurer, as directed by the public school fund investment board, may invest and reinvest moneys accrued or accruing to the public school fund in the types of deposits and investments authorized in sections 24-36-109, 24-36-112, and 24-36-113, C.R.S., and bonds issued by school districts. The moneys may also be invested in stocks and […]
The state treasurer may engage in financial transactions whereby: Obligations are purchased with moneys accrued or accruing to the public school fund under an agreement providing for the resale of such obligations to the original seller at a stated price together with a payment to the fund of interest for the period the fund holds […]
Any amount paid as a premium for an interest-bearing obligation in excess of the amount realized upon disposition of said obligation must be recovered as a return of principal out of interest thereafter derived from the public school fund. Such recovery must be made and recorded on a systematic basis applied consistently from year to […]
Notwithstanding section 24-1-136 (11)(a)(I), the public school fund investment board shall submit financial statements on November 1 of each fiscal year to the state treasurer, the state board of land commissioners, the office of state planning and budgeting, the joint budget committee, and the education and finance committees of the senate and house of representatives, […]
On July 1, 1973, the state board of land commissioners shall deliver to the state treasurer all records relating to investments of the public school fund made by the board. Source: L. 73: R&RE, p. 1241, § 1. C.R.S. 1963: § 123-4-8.
The general assembly hereby finds that school districts of this state are experiencing great need for improved school facilities; that, although the issuance of school bonds can pave the way for improved facilities, such bonds must be marketable and their interest rate must be competitive in order to benefit the district; that, if the risk […]
The state treasurer, on behalf of a school district, shall make payment as provided in this section of principal and interest on bonds or other obligations to which this section applies, unless the school district board of education adopts a resolution stating it will not accept payment on behalf of the school district of principal […]
