The Board of Water Commissioners in its sole discretion may issue revenue bonds, the
proceeds of which shall be placed in the Water Works Fund and expended for water works
purposes, for establishing reserves in connection with such bonds or for refunding
the principal of and interest on bonds previously issued by the Board. Revenue bonds
shall be payable as to interest and principal solely from the net revenues of the
Board. The Board shall pledge to pay the principal and interest on such bonds from
revenues of the Board, which pledge shall be irrevocable. The bonds so authorized
shall be sold and issued by action of the Board and no other ratification or authorization
shall be required. The Board shall have power to refund, pay or discharge the principal
of any general obligation bond it issued prior to November 5, 2002, when such bond
becomes payable, and may use proceeds of a new revenue bond issuance to refund, pay
or discharge the general obligation bonds. Existing or future bonds issued by the
Board shall continue to be excluded from the determination of any limit upon the indebtedness
of the City and County of Denver.
(Charter 1960, C4.28; amended May 19, 1959; amended May 17, 1983; amended August 11,
1992; Ord. No. 659-02, § 1, 8-26-02, elec. 11-5-02)
var val = document.getElementById('citecontent').innerHTML;
art.dialog.defaults.title = window.location.href;
art.dialog.data('cite', val);
art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');
