Colorado § 31-35-414 - Application of bond proceeds.
Full text of Colorado Colorado Revised Statutes § 31-35-414 — Application of bond proceeds., with citation guidance and answers to common questions.
§ 31-35-414. Application of bond proceeds.
(1) All moneys received from the issuance of any bonds authorized in this part 4 shall be used solely for the purpose for which issued and the cost of any project thereby delineated.
(2) Any accrued interest and any premium shall be applied to the payment of the interest on or the principal of the bonds or both interest and principal or shall be deposited in a reserve therefor, as the governing body may determine.
(3) Any unexpended balance of such bond proceeds remaining after the completion of the acquisition or improvement and equipment of the project or the completion of the purpose for which such bonds were issued shall be paid immediately into the fund created for the payment of the principal of said bonds and shall be used therefor, subject to the provisions as to the times and methods for their payment as stated in the bonds and the proceedings authorizing or otherwise appertaining to their issuance, or into a reserve therefor.
(4) The validity of said bonds shall not be dependent on nor affected by the validity or regularity of any proceedings relating to the acquisition or improvement and equipment of the project or the proper completion of any project for which the bonds are issued.
(5) The purchaser of the bonds shall in no manner be held responsible for the application of the proceeds of the bonds by the municipality or any of its officers, agents, and employees.
Source: L. 75: Entire title R&RE, p. 1259, § 1, effective July 1.
Editor's note: This section is similar to former § 31-35-414 as it existed prior to 1975.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 31-35-414
What does Colorado Revised Statutes § 31-35-414 cover?
Section 31-35-414 ("Application of bond proceeds.") 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 § 31-35-414?
A common citation format is "Colorado Revised Statutes § 31-35-414" (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 § 31-35-414 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.