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Certificates of participation
Colorado. General Assembly. Legislative Council.
Colorado Legislative Council
In lieu of issuing bonds, or using another form of long-term debt, the state often uses a form of lease-purchase agreement called certificates of participation (COPs) to finance the construction of its new facilities. A certificate refers to an investor's proportionate interest in the state's lease payments. COPs give the state the flexibility to build capital facilities even when funds are not available to pay for projects on a pay-as-you-go basis.
by Kori Donaldson.
Description based on online resource; title from PDF caption, viewed November 2015.
Certificates of participation (Securities)
1 online resource (2 unnumbered pages).
Issue brief (Colorado. General Assembly. Legislative Council)