AGO 90-6.

Case Date:April 11, 1990
Court:Colorado
 
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Colorado Attorney General Opinions 1990. AGO 90-6. STATE OF COLORADO OFFICE OF THE ATTORNEY GENERAL FORMAL OPINION OF DUANE WOODARD Attorney General Opinion No. 90-6 AG Alpha No. LE AU AGARD April 11, 1990 Timothy M. O'Brien State Auditor Office of State Auditor 200 East 14th Avenue Denver, Colorado 80203 RE: Investment Authority of the University of Colorado and Other State CollegesDear Mr. O'Brien, This opinion letter is written in response to your inquiry about the application to the University of Colorado and other state colleges of certain statutory provisions concerning the use of public funds. QUESTIONS PRESENTED AND CONCLUSIONS Do Sections 24-75-601 through -60l.5 and 24-75-603, C.R.S. (1988 & 1989 Supp.) apply to the use of funds by the University of Colorado? Sections 24-75-601 through -601.5 do; Section 24-75-603 does not. Do Sections 24-75-701 and -702, C.R.S. (1988) authorize Western State and Mesa State Colleges to pool their moneys with those of other public entities? Yes. Is part 7 of article 75, title 24, C.R.S. (1988) compatible with the other parts of article 75, title 24? Presumably, yes. ANALYSIS Title 24, article 75, part 6, C.R.S. (1988 & 1989 Supp.) provides general law regarding the lawful investment of public funds and other moneys. Section 24-75-601 is a definitional section. Section 24-75-601.1 concerns lawful investment of public funds in securities: subsection (1) of this section specifies what securities constitute lawful investments of public funds; subsection (2) requires that such investments further conform with the standard set forth in Section 15-1-304, C.R.S.; subsections (3) and (4) provide that the restrictions of the section are not limitations on other powers or authorities otherwise authorized by law and do not refer to certain specified public funds. Sections 24-75-601.2 through 24-75-601.5 contain provisions related to the substantive material contained in Section 24-75-601.1. The other section relevant to your inquiry is Section 24-75-603, which authorizes certain public entities to deposit funds in federally insured or adequately secured Colorado banks and savings and loan associations. The University of Colorado (hereafter, "the university") is a state institution of higher education created by the state constitution. Colo. Const. art. VIII, Section 5. It is...

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