reglab/housing_qa huggingface dataset:
CO Code § 11-55-110 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 55 - Uniform Facsimile Signature of Public Officials Act|§ 11-55-110. Payment Authorized Although Suit for Recovery Barred

 Nothing contained in sections 11-55-107 to 11-55-110 shall be so construed as to prevent the payment of any public security, or the interest having accrued thereon prior to or at its maturity, after the period specified in section 11-55-107 has passed, and the issuing body of such public security is authorized by sections 11-55-107 to 11-55-110 to make such payment if it deems it in its best interests so to do.   History. Source: L. 69: R&RE, p. 1084, § 1. C.R.S. 1963: § 125-6-10. History. Source: L. 69: R&RE, p. 1084, § 1. C.R.S. 1963: § 125-6-10.
CO Code § 11-56-101 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 56 - Public Securities Refunding Act|§ 11-56-101. Short Title

 This article shall be known and may be cited as the “Public Securities Refunding Act”.   History. Source: L. 77: Entire article added, p. 582, § 1, effective July 1.
CO Code § 11-56-102 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 56 - Public Securities Refunding Act|§ 11-56-102. Legislative Declaration - Applicability

 The general assembly hereby declares that the orderly refunding of any revenue obligation or any general obligation bond and any other lawful general obligation indebtedness by any public body of the state, as defined in section 11-56-103 (7) , when advantageous to the public body or persons within the public body, will serve a public use and will promote the health, safety, security, and general welfare of the inhabitants thereof and of the people of the state of Colorado. It is the intent of this article to provide a consistent mechanism for refunding for such public bodies of the state.   History. Source: L. 77: Entire article added, p. 582, § 1, effective July 1.
CO Code § 11-56-104 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 56 - Public Securities Refunding Act|§ 11-56-104. Purpose of Refunding

  A refunding of outstanding obligations of a public body may be accomplished pursuant to this article by the issuance of bonds for refunding, paying, and discharging all or any part of such outstanding obligations, including a portion of one or more issues of such obligations and including any interest thereon in arrears or about to become due, and for one or more of the following purposes:   Avoiding or terminating any default in the payment of interest on or principal of, or both interest on and principal of, said obligations;    Reducing the net effective interest rate of said obligations;    Reducing total interest payable over the life of the obligations, by issuing bonds of a shorter term, or at a lower net interest cost, or having a lower net effective interest rate;    Reducing the total principal and interest payable on such obligations or the principal and interest payable thereon in any particular year or years, or affecting other economies;    Modifying or eliminating restrictive contractual limitations appertaining to such obligations, to the incurring of additional indebtedness or obligations, or to any system, facility, or improvement appertaining thereto;    Postponing the maturity of all or any part or portion of said obligations to a later date, subject to the limitations in section 11-56-107;    Substituting an issue of bonds for a note or notes, or other obligations, including but not limited to any obligation issued in anticipation of the later issuance of bonds;    Any combination of the foregoing purposes specified in this subsection (1).       In making the computations necessary or appropriate pursuant to subsection (1) of this section for a refunding transaction in which all or any portion of the principal of or interest on the refunding bonds is to be paid from the proceeds of such refunding bonds or the interest or other income to be derived from the investment of such proceeds, including any refunding transaction as a part of which special obligation refunding bonds are to be issued, only those amounts with regard to bonds issued for refunding purposes which are to be payable by the public body from sources other than refunding bond proceeds and the interest and other income derived from the investment of such proceeds need to be considered.     History. Source: L. 77: Entire article added, p. 584, § 1, effective July 1.
CO Code § 11-56-104.5 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 56 - Public Securities Refunding Act|§ 11-56-104.5. Disclosures by Underwriters of Financial Matters Related to Refunding

     Whenever an underwriter proposes to refund the bonds of any public body, and competitive proposals have not been requested, the underwriter shall, simultaneously with the submission of the proposal, disclose, in writing, to the governing body of the public body, the entire income, from all sources, which he anticipates receiving if his proposal is accepted, specifying all such sources and amounts, as well as disclosing all expenses which he anticipates the public body will incur as a part of such refunding transaction. Any governing body may require such disclosure whenever any refunding proposals are to be considered.    The underwriter shall also provide the governing body of the public body with a comparison of annual debt service requirements before and after refunding, by year and amount, including funds which are required in addition to bond proceeds. Such comparison shall also show the present value of all annual differences in debt service requirements, using as a discount factor the net effective interest rate of the refunding bonds. All such figures shall be computed from the date on which the transaction is closed and shall include funds provided by the issuer as a reduction of, or an addition to, debt service requirements. Funds provided by the issuer in excess of accrued principal and interest, and earnings on the funds, over the life of, and compounded at the net effective interest rate of, the refunding bonds, shall also be disclosed.       The information specified in subsection (1) of this section shall be updated to the date of closing at the time of closing. Any governing body may require an additional disclosure at such time as final figures are available.     History. Source: L. 78: Entire section added, p. 304, § 1, effective March 29.
CO Code § 11-56-106 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 56 - Public Securities Refunding Act|§ 11-56-106. Refunding With Bonds of Another Type

  Subject to the provisions of subsections (2), (3), and (4) of this section, nothing contained in this article shall be construed as authorizing a public body to issue any obligations constituting a debt or indebtedness for the purpose of refunding obligations which do not constitute debt or indebtedness.    Any revenue obligations of a public body may be refunded by the issuance of general obligation refunding bonds only if the public body would be authorized by law to issue general obligations for the purposes for which such revenue obligations were originally issued at the time of the issuance of said refunding bonds, whether or not the public body was so authorized at the time of the issuance of such revenue obligations.    If the issuance of general obligations for a particular purpose would be conditioned upon their approval by the qualified electors of the public body at an election, any general obligation refunding bonds proposed to be issued to refund revenue obligations originally issued for such purpose may be issued only if issuance of the refunding bonds has been approved at an election in the same manner.    If a debt limitation pertains to general obligation bonds or other general obligations of a public body issued for a particular purpose, then no general obligation bonds shall be issued to refund any revenue obligations issued for such purpose in any principal amount which would cause such debt limitation to be exceeded.     History. Source: L. 77: Entire article added, p. 587, § 1, effective July 1.
CO Code § 11-56-109 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 56 - Public Securities Refunding Act|§ 11-56-109. Proceeds of Refunding Bonds in Escrow - Investment - Security - Amounts

  Moneys placed in any escrow or trust shall not necessarily be limited to proceeds of refunding bonds but may include other moneys legally available for the purpose.    Any moneys in escrow or trust, pending use for their intended purpose, may be invested or reinvested only in securities meeting the investment requirements established in part 6 of article 75 of title 24, C.R.S.    The escrow agent shall continuously secure any moneys placed in escrow or trust and not so invested or reinvested in securities by a pledge of such securities in a principal amount at all times at least equal to the total uninvested moneys held in such escrow or trust in strict accordance with the provisions of the escrow agreement. The requirements of this subsection (3) shall not apply with regard to any such uninvested moneys to the extent and during any time the same are fully insured by the federal deposit insurance corporation.    Such moneys and investments in the escrow or trust account, together with the interest or other gain to be derived from any such investments, shall at all times be at least sufficient to make all of the payments required to be made pursuant to the escrow agreement in the manner and at the times specified in said agreement.    The computations made in determining such sufficiency shall be verified by a certified public accountant licensed to practice in this state.    No purchaser of any refunding bond issued under this article shall be responsible in any manner for the application of the bond proceeds or other moneys by the public body, the governing body, or any of the officers, agents, or employees of the public body.     History. Source: L. 77: Entire article added, p. 590, § 1, effective July 1. L. 89: (2) and (3) amended, p. 1106, § 7, effective July 1.
CO Code § 11-56-110 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 56 - Public Securities Refunding Act|§ 11-56-110. Sources of Payment - Limitations

 Refunding bonds, other than special obligation refunding bonds, may be made payable from, and the governing body may pledge to the payment of such refunding bonds, any tax, or any income or revenue of the public body from any source, or both such taxes and such income or revenue, which could have been legally pledged to and used for the payment of the obligations being refunded at the time such obligations being refunded were issued or which could legally be pledged to and used for the payment of the obligations being refunded if the same were to be issued at the time of the refunding, as the governing body may determine, notwithstanding the pledge of such taxes, income or revenue for the payment of the outstanding obligations being refunded is thereby modified. In no event, however, shall any taxes, income, or revenues be pledged for the payment of any refunding bonds which could not have been lawfully pledged for the payment of the obligations being refunded because of the lack of the required approval of such pledge by the electors qualified to vote on the issuance of the obligations being refunded, or because of limitations in the election question authorizing their issuance, unless the refunding bonds and such pledge are similarly authorized by the electors at an election in substantially the manner required by law for the issuance of the obligations being refunded.   History. Source: L. 77: Entire article added, p. 591, § 1, effective July 1.
CO Code § 11-56-111 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 56 - Public Securities Refunding Act|§ 11-56-111. Combination of Refunding Bonds and Other Bonds - Limitations

 Any refunding bonds and bonds for any other purpose authorized by any other law may, in the discretion of the governing body, be issued separately or in combination in one or more series by the public body, subject, however, to the same limitations provided in section 11-56-105 (3) for combined refunding of two or more outstanding obligations.   History. Source: L. 77: Entire article added, p. 591, § 1, effective July 1.
CO Code § 11-56-112 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 56 - Public Securities Refunding Act|§ 11-56-112. Special Obligation Refunding Bonds

  In addition to and in combination with the refunding bonds authorized by this article, the public body may concurrently issue special obligation refunding bonds, for the purpose of providing additional funds with which to accomplish the refunding of outstanding general obligations or outstanding revenue obligations. Such special obligation refunding bonds shall be payable solely from amounts pledged under the escrow or trust agreement derived from certain specified interest or principal, or both interest and principal, payments on the investments in said escrow or trust account.    The total principal amount of special obligation refunding bonds shall not exceed the sum of the following items reduced by the total principal amount of refunding bonds, other than special obligation refunding bonds, to be issued as a part of such refunding transaction:   The total outstanding principal amount of the obligations being refunded;    The prior redemption premium, if any, payable on that portion of the obligations being refunded which are to be called for redemption prior to maturity, as set forth in the ordinance or resolution authorizing the refunding bonds;    The total accrued and unaccrued interest payable on the obligations refunded to stated maturity dates or to the dates at which all or specified portions of the refunded obligations are to be called for redemption prior to maturity, as set forth in the ordinance or resolution authorizing the refunding bonds, less the amount of any such accrued interest deposited into the escrow account by the issuer; and    All costs incurred in the authorization, sale, issuance, and delivery of the refunding bonds and the special obligation refunding bonds.       The public body shall have no authority or power, at any time or in any manner, to pledge its credit, or its taxing power or any other funds, moneys, income, or revenues of such public body other than as specified in this section, to the payment of the principal of or interest on the special obligation refunding bonds issued pursuant to this section, nor shall such special obligation refunding bonds be deemed to be a debt or indebtedness of the public body or the state of Colorado, and such condition shall be set forth on the face of the bonds; except that such public body may pledge any other taxing power, funds, moneys, income, or revenues of such public body as additional security for the special obligation refunding bonds.    The general provisions of this article relating to refunding obligations shall equally apply to special obligation refunding bonds, except as otherwise provided in this article.     History. Source: L. 77: Entire article added, p. 591, § 1, effective July 1.
CO Code § 11-56-113 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 56 - Public Securities Refunding Act|§ 11-56-113. Tax Exemption - Exceptions

  Except as otherwise provided in this article, all general obligation refunding bonds, refunding revenue bonds, and special obligation refunding bonds and the income therefrom shall be exempt from taxation, except inheritance, estate, and transfer taxes.    Bonds issued pursuant to this article for the purpose of refunding outstanding obligations which were neither exempt from such taxation at the time issued or at the time of the refunding nor which would have been exempt from such taxation if originally issued at the time of the refunding, shall be subject to taxation to the same extent and in the same manner as the outstanding obligations for the refunding of which they are issued.     History. Source: L. 77: Entire article added, p. 592, § 1, effective July 1.
CO Code § 11-56-114 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 56 - Public Securities Refunding Act|§ 11-56-114. Conclusive Determination of Governing Body That Statutory Limitations Have Been Met

 The determination of the governing body that the provisions and limitations, in this article and any other applicable law, imposed upon the issuance of any bonds under this article, have been met shall be conclusive in the absence of fraud or arbitrary and gross abuse of discretion.   History. Source: L. 77: Entire article added, p. 592, § 1, effective July 1.
CO Code § 11-56-115 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 56 - Public Securities Refunding Act|§ 11-56-115. Prior Obligations Not Impaired

 Nothing in this article shall be construed in any manner so as to impair the obligations of any refunding bonds issued or any refunding transaction, consummated by a public body prior to the enactment of this article, or otherwise to invalidate any such bond, obligation, or refunding transaction.   History. Source: L. 77: Entire article added, p. 592, § 1, effective July 1.
CO Code § 11-56-116 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 56 - Public Securities Refunding Act|§ 11-56-116. Construction of This Article

 The powers conferred by this article are in addition and supplemental to and not in substitution for, and the limitations imposed by this article shall not directly or indirectly modify, limit, or affect, the powers conferred by any other law. Bonds may be issued under this article without regard to the provisions of any other law, and if so issued, insofar as the provisions of this article are inconsistent with the provisions of any other law, the provisions of this article shall be controlling.   History. Source: L. 77: Entire article added, p. 592, § 1, effective July 1.
CO Code § 11-56-117 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 56 - Public Securities Refunding Act|§ 11-56-117. Liberal Construction

 This article shall be liberally construed so that the legislative intent may be fulfilled.   History. Source: L. 77: Entire article added, p. 593, § 1, effective July 1.
CO Code § 11-58-101 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 58 - Public Securities Information Reporting Act|§ 11-58-101. Short Title

 This article shall be known and may be cited as the “Public Securities Information Reporting Act”.   History. Source: L. 91: Entire article added, p. 667, § 1, effective June 1.
CO Code § 11-58-102 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 58 - Public Securities Information Reporting Act|§ 11-58-102. Legislative Declaration

 The general assembly hereby declares that the annual disclosure of financial and credit information for nonrated public securities will benefit both issuers and investors by expanding and stabilizing the market for nonrated public securities and thereby improve the marketability of such securities. The general assembly further declares that issuers of nonrated public securities are strongly encouraged to make such annual disclosure of financial and credit information and to make such disclosed information available to all of their investors.   History. Source: L. 91: Entire article added, p. 667, § 1, effective June 1.
CO Code § 11-58-103 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 58 - Public Securities Information Reporting Act|§ 11-58-103. Definitions

 As used in this article, unless the context otherwise requires:    “Annual information report” means a written report completed on forms prescribed by the director of the department of local affairs.    “Conduit financing” means an outstanding nonrated public security for which a private profit making or nonprofit making issuer constitutes the ultimate credit source for the security.    (Deleted by amendment,L. 2002, p. 541, § 1, effective October 1, 2002.)    “Issued to the public” means offers and sales of nonrated public securities by an issuer except to the extent such securities have been offered and sold in accordance with federal rule 15c 2-12 (d)(1) of the federal “Securities Exchange Act of 1934”.    “Issuer” means the state, any political subdivision thereof, and any district, board, commission, authority, or other public corporate body issuing any nonrated public securities in Colorado.    “Make public” means to file the annual information report with the department of local affairs.    “National rating service” means Moody's Investors Service, Inc., Standard and Poor's Corporation, Fitch Investors Service, Inc., or any other nationally recognized organization which regularly rates public securities.    “Nonrated public securities” means bonds, notes, warrants, certificates, or other securities evidencing loans or the advancement of moneys which have been issued to the public by or on behalf of an issuer and have not been rated by a national rating service, but excluding conduit financing and any such obligation payable in full within one year after the date of its issuance; except that nothing in this article shall be construed to apply to any bond, note warrant, certificate, or other security issued for less than one million dollars.    “Outstanding” in connection with any nonrated public security, means any nonrated public security which at the time has been issued, authenticated, and delivered under a financing document, and which has not been paid in full, canceled, or deemed paid and which is otherwise outstanding in accordance with the terms of such financing document.     History. Source: L. 91: Entire article added, p. 667, § 1, effective June 1. L. 2002: (1), (3), and (6) amended, p. 541, § 1, effective October 1. L. 2004: (4) amended, p. 950, § 5, effective May 21.    Cross references:   For the “Securities Exchange Act of 1934”, see Pub.L. 73-291, codified at 15 U.S.C. § 78a et seq.
CO Code § 11-58-104 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 58 - Public Securities Information Reporting Act|§ 11-58-104. Applicability of Article

 This article applies to the state, any political subdivision thereof, and any district, board, commission, authority, or other public corporate body in the state if there are at the time outstanding nonrated public securities which such entity has issued to the public or on its behalf has caused to be issued to the public.   History. Source: L. 91: Entire article added, p. 668, § 1, effective June 1.
CO Code § 11-58-105 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 58 - Public Securities Information Reporting Act|§ 11-58-105. Annual Information Report

 Each issuer of nonrated public securities issued pursuant to sections 31-25-107 (9) and 31-25-807 (3) , C.R.S., and title 32, C.R.S., shall make public within sixty days following the end of each of such issuer's fiscal year ending on or after December 31, 1991, an annual information report or reports with respect to any of such issuer's nonrated public securities which are outstanding as of the end of each such fiscal year. Nothing shall preclude any issuer not so required by this article from filing a report pursuant to this article.   History. Source: L. 91: Entire article added, p. 669, § 1, effective June 1. L. 2002: Entire section amended, p. 541, § 2, effective October 1.
CO Code § 11-58-107 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 58 - Public Securities Information Reporting Act|§ 11-58-107. Immunity From Liability

 The issuer or any public employee thereof shall be immune from liability for information contained in or omitted from any annual information report concerning a nonrated public security unless the inclusion or omission of such information was willful and wanton for the purpose of materially misleading actual or potential holders of such nonrated public security.   History. Source: L. 91: Entire article added, p. 670, § 1, effective June 1.