Colorado § 23-31-117 - Borrowing funds.
Full text of Colorado Colorado Revised Statutes § 23-31-117 — Borrowing funds., with citation guidance and answers to common questions.
§ 23-31-117. Borrowing funds.
(1) For the purposes described in section 23-31-112, the board of governors of the Colorado state university system is authorized to:
(a) Enter into contracts with any person, corporation, or state or federal government agency for the advancement of money for such purposes and providing for the repayment of such advances with interest from the Colorado state university research building revolving fund; and
(b) Issue bonds as provided in this section.
(2) (a) Any bonds issued pursuant to this section shall mature at such time or times, shall bear or accrue interest at such rate or rates, and shall otherwise be sold and issued in such manner and on such terms as provided by the board of governors of the Colorado state university system.
(b) Such bonds shall be payable exclusively from, and shall be secured by a pledge of, the Colorado state university research building revolving fund created in section 23-31-112.
(c) The authority contained in this section to issue bonds shall be in addition to the authority granted to the board of governors of the Colorado state university system to issue anticipation warrants pursuant to section 23-31-113; except that nothing in this section shall be construed to authorize the issuance of bonds if by such issuance the obligation of any contract entered into with respect to any outstanding anticipation warrants would thereby be impaired.
(d) Any bonds issued pursuant to this section shall be exempt from taxation for state, county, school district, special district, municipal, or other purposes in the state of Colorado.
(e) Bonds issued pursuant to the provisions of this section shall not constitute a debt or an indebtedness of the state within the meaning of any applicable provision of the state constitution or state statutes.
Source: L. 2007: Entire article amended with relocations, p. 528, § 2, effective August 3; (2)(e) amended, p. 67, § 2, effective August 3.
Editor's note: (1) This section is similar to former § 23-31-134 as it existed prior to 2007, and the former § 23-31-117 was relocated to § 23-31-106.
(2) Subsection (2)(e) was originally numbered as § 23-31-134 (2)(e), and the amendments to it in Senate Bill 07-054 were harmonized with House Bill 07-1254 and relocated to this section.
Frequently Asked Questions About Colorado § 23-31-117
What does Colorado Revised Statutes § 23-31-117 cover?
Section 23-31-117 ("Borrowing funds.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 23-31-117?
A common citation format is "Colorado Revised Statutes § 23-31-117" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 23-31-117 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.