§ 11-59.7-101. Short Title
This article shall be known and may be cited as the “Colorado Recovery and Reinvestment Finance Act of 2009”. Source: L. 2009: Entire article added, (HB 09-1346), ch. 402, p. 2190, § 1, effective June 2.
§ 11-59.7-102. Legislative Declaration
The general assembly hereby finds and declares that: The federal “American Recovery and Reinvestment Act of 2009”, Pub.L. 111-5, was enacted by the United States congress in response to a national economic crisis in order to stimulate spending, increase employment, and reduce unemployment in the United States as rapidly as possible, including spending and employment […]
§ 11-59.7-103. Definitions
As used in this article 59.7, unless the context otherwise requires: “Ancillary agreement” means any contract, agreement, or other arrangement that a public entity determines is necessary or convenient in connection with a stimulus obligation, including but not limited to any agreement, contract, or other arrangement: Pursuant to which the proceeds of such stimulus obligation […]
§ 11-59.7-104. Stimulus Obligations Authorized Under State Law – Ancillary Agreements
Public entities may issue or enter into stimulus obligations as authorized by this article 59.7. Except as otherwise provided in this section and section 11-59.7-105, each type of stimulus obligation shall be issued or entered into by a public entity in accordance with a law of the state that authorizes or permits the public entity […]
§ 11-59.7-105. Federal Tax Credits – Federal Direct Payments
Any federal tax credit that may be claimed by an owner of a stimulus obligation or any other person in connection with a stimulus obligation shall not be treated as revenue of any public entity and shall not be considered in determining any amount payable by any public entity on or with respect to any […]
§ 11-59.7-106. Qualified School Construction Bond Volume Cap – Rules
The state qualified school construction bond volume cap shall be allocated to the public school capital construction assistance board, which, subject to the provisions of subsections (3) and (4) of this section, shall use the volume cap to enter into financed purchase of an asset or certificate of participation agreements to assist the financing or […]
§ 11-59.7-107. Qualified Energy Conservation Bond Volume Cap – Rules
The qualified energy conservation bond volume cap shall be administered by the Colorado energy office pursuant to this section. The Colorado energy office shall allocate the qualified energy conservation bond volume cap to the state and large local governments in accordance with federal law for the purpose of financing or refinancing projects approved by the […]
§ 11-59.7-108. Recovery Zone Economic Development Bond Volume Cap – Recovery Zone Facility Bond Volume Cap – Rules – Report
The recovery zone economic development bond volume cap and the recovery zone facility bond volume cap shall be administered by the commission on higher education pursuant to this section and, to the extent provided in subsection (5) of this section, the department of local affairs. Subject to the provisions of subsections (3) to (7) of […]
§ 11-59.7-109. Qualified Zone Academy Bond Volume Cap – Rules
The qualified zone academy bond volume cap shall be administered by the public school capital construction assistance board pursuant to this section. The qualified zone academy bond volume cap shall be allocated to school districts to finance or refinance projects approved by the public school capital construction assistance board. Any portion of the qualified zone […]
§ 11-59.7-110. Recovery and Reinvestment Act Finance Authorities
Two or more public entities that are authorized to issue or enter into one or more types of stimulus obligations or one or more public entities that are authorized to issue or enter into one or more types of stimulus obligations and one or more public entities that may use or benefit from the project […]
§ 11-59.7-111. Reporting Requirements
A public entity that issues or enters into a stimulus obligation authorized by the allocation or reallocation of the volume cap to the public entity pursuant to section 11-59.7-106, 11-59.7-107, 11-59.7-108, or 11-59.7-109, by the public school capital construction assistance board, the Colorado energy office, the commission on higher education, or the department of local […]
§ 11-59.7-112. No Limitation on Powers
The powers conferred by this article are in addition to and supplemental to and not in substitution for the powers conferred by any other law, and nothing in this article shall be interpreted to limit the powers of any public entity under any other law. If any provision of this article is inconsistent with any […]
§ 11-59.7-113. Executive Orders Authorized
This article was enacted in order to authorize public entities to take full advantage of financing opportunities available under the federal recovery and reinvestment act shortly after the enactment of the act and without detailed guidance from the executive branch of the federal government or courts regarding the proper interpretation of the act. If, based […]
§ 11-59.7-113.5. Specified Tax Credit Bonds
A public entity may elect pursuant to the internal revenue code to treat any stimulus obligation as a specified tax credit bond. Any volume cap allocated to a public entity for stimulus obligations of the same type as a stimulus obligation for which such an election has been made shall apply to the stimulus obligation. […]
§ 11-59.7-114. Applicability
This article shall apply only to stimulus obligations issued or entered into pursuant to the federal recovery and reinvestment act on or before the date the authority to issue or enter into stimulus obligations of such type expires under the federal recovery and reinvestment act. Source: L. 2009: Entire article added, (HB 09-1346), ch. 402, […]