All expenses of the authority incurred in carrying out the provisions of this article shall be payable solely from funds provided under the authority of this article, and no liability shall be incurred by the authority beyond the moneys which are provided pursuant to this article. For the purposes of meeting the necessary expenses of initial organization and operation until such date as the authority derives moneys from funds provided pursuant to this article, the authority may borrow such moneys as may be required for the necessary expenses of organization and operation. Such borrowed moneys shall be repaid within a reasonable time after the authority receives funds provided pursuant to this article.
Source: L. 81: Entire article added, p. 1743, § 1, effective June 19.
Structure Colorado Code
Article 75 - Colorado Agricultural Development Authority Act
§ 35-75-102. Legislative Declaration
§ 35-75-104. Colorado Agricultural Development Authority - Creation - Membership
§ 35-75-105. Organization Meeting - Chairman - Personnel - Surety Bond - Conflict of Interest
§ 35-75-106. Meetings of Board - Quorum - Expenses
§ 35-75-107. General Powers and Duties of Authority
§ 35-75-108. Authority - Loans to or Made by Lenders
§ 35-75-109. Authority - Rules and Regulations
§ 35-75-112. Negotiability of Bonds
§ 35-75-113. Security for Bonds and Notes
§ 35-75-114. Personal Liability
§ 35-75-116. Payment of Bonds - Nonliability of State
§ 35-75-117. Exemption From Taxation - Securities Law
§ 35-75-119. Investment Powers of Authority
§ 35-75-120. Proceeds as Trust Funds
§ 35-75-121. Agreement of the State Not to Limit or Alter Rights of Obligees
§ 35-75-122. Enforcement of Rights of Bondholders
§ 35-75-123. Bonds Eligible for Investment
§ 35-75-124. Account of Activities - Receipts for Expenditures - Report - Audit