2020 Colorado Revised Statutes
Title 32 - Special Districts
Article 11. Urban Drainage and Flood Control Act
Section 32-11-506. Details of securities.

(1) Except as otherwise provided in this article and in any other law, the provisions of which are relevant by express reference in this article thereto, any district securities issued under this article, as may be provided by the board in a resolution authorizing their issuance and in any indenture or other proceedings pertaining thereto, may be:

(a) In such form, issued in such manner, and issued with such provisions:

1. For the application of any accrued interest and any premium from the sale of anybonds or other district securities under this article as provided in section 32-11-516;

2. For the registration of the bonds or other securities for payment as to principal only,or as to both principal and interest, at the option of any holder of a bond or other security, or for registration for payment only in either manner designated;

3. For the endorsement of payments of interest on the bonds or other securities or forreconverting the bonds or other securities into coupon bonds or other coupon securities, or both for such endorsement and such reconversion, where any bond or other security is registered for payment as to interest; and where interest accruing on the securities is not represented by interest coupons, the securities may provide for the endorsing of payments of interest thereon;

4. For the endorsement of payments of principal on the bonds or other securities,where any bond or other securities are registered for payment as to principal;

5. For the initial issuance of one or more bonds or other securities aggregating theamount of the entire issue or any portion thereof, and the endorsement of payments of interest or principal or both interest and principal on the securities;

6. For the manner and circumstances in and under which any such bond or other securities may in the future, at the request of the holder thereof, be converted into bonds or other securities of smaller or larger denominations, which bonds or other securities of smaller or larger denominations may in turn be either coupon bonds or other coupon securities or bonds or other securities registered for payment, or coupon bonds or other coupon securities with provisions for registration for payment;

7. For the reissuance of any outstanding bonds or other securities, and the terms andconditions thereof, whether lost, apparently destroyed, wrongfully taken, or for any other reason, as provided in the "Uniform Commercial Code - Investment Securities", being article 8 of title 4, C.R.S., or otherwise;

8. For the deposit of moneys, federal securities, or other securities of the federalgovernment, or both moneys and all such securities, with and securing their repayment by a commercial bank within or without or both within and without this state; and

9. For the payment of costs or expenses incident to the enforcement of the securitiesor of the provisions of the resolution or of any covenant or contract with the holders of the securities.

(b) Issued otherwise with such recitals, terms, covenants, conditions, and other provisions as the board may provide.

Source: L. 69: p. 767, § 48. C.R.S. 1963: § 89-21-48.