(1) Except as provided in subsection (2) of this section, any proceeds from the issuance of bonds by the trust fund board that are credited to the trust fund shall be invested in the same manner as all other moneys credited to the trust fund as provided by law.(2) The trust fund board may direct a corporate trustee that holds proceeds from the issuance of bonds to invest or deposit the proceeds in investments or deposits other than those authorized for the trust fund if the trust fund board determines, by resolution, that the 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 authorized for the trust fund, and the investment will assist the trust fund board in making expenditures in furtherance of the great outdoors Colorado program.L. 2001: Entire section added, p. 907, § 4, effective June 1.
Colorado Legal Code