Certificates of Participation

Certificates of Participation

Website or Online Data - 2015
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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.
Publisher: Denver, Colo. :, Colorado Legislative Council,, 2015.
Characteristics: 1 online resource (2 unnumbered pages).
Additional Contributors: Colorado

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