43-4-708. Investments.
177 words·~1 min read·
/co/title-43-transportation/article-4-financing/43-4-708·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Any proceeds from the issuance of revenue anticipation notes or any other moneys relating to such notes that are credited to the state highway
supplementary fund shall be invested in the same manner as all other moneys credited to said fund as provided by law.
(2)The executive director, in consultation with the state treasurer, may direct a corporate trustee that holds any proceeds from the issuance of revenue anticipation notes or any other moneys paid to such trustee in connection with such notes to invest or deposit such moneys in investments or deposits other than those in which moneys in the state highway supplementary fund may be invested or deposited if the executive director, in consultation with the state treasurer, determines that such investment or deposit meets the standard established in section 15-1-304, C.R.S., the income is at least comparable to income available on investments or deposits of moneys in the state highway supplementary fund, and the investment will assist the department in the financing, construction, operation, or maintenance of qualified federal aid transportation projects.