§ 24-82-1301. Legislative Declaration
The general assembly hereby finds and declares that: Due to insufficient funding, necessary high-priority state highway projects and state capital construction projects, including projects at state institutions of higher education, in all areas of the state have been delayed, and the state has also delayed critical controlled maintenance and upkeep of state capital assets; By […]
§ 24-82-1302. Definitions
As used in this part 13, unless the context otherwise requires: “Capital construction” has the same meaning as set forth in section 24-30-1301 (2). “Controlled maintenance” has the same meaning as set forth in section 24-30-1301 (4). “Eligible state facility” means any financially unencumbered building, structure, or facility that is owned by the state, including […]
§ 24-82-1303. Financed Purchase of an Asset or Certificate of Participation Agreements for Capital Construction and Transportation Projects
Repealed. Notwithstanding the provisions of sections 24-82-102 (1)(b) and 24-82-801, and pursuant to section 24-36-121, no sooner than July 1, 2018, the state, acting by and through the state treasurer, shall execute financed purchase of an asset or certificate of participation agreements, each for no more than twenty years of annual payments, for the projects […]
§ 24-82-1002. Definitions
As used in this part 10, unless the context otherwise requires: “Leveraged leasing agreement” means an agreement or a series of agreements between the state and a private person under which: In exchange for monetary consideration paid in a lump sum when the lease closes, the state leases a qualified state capital asset to a […]
§ 24-82-1003. Leveraged Leasing
On and after May 14, 2003, the executive director of the department of personnel, with the approval of the director of the office of state planning and budgeting, may enter into leveraged leasing agreements on behalf of the state. The executive director of the department of personnel may retain attorneys, consultants, or financial professionals to […]
§ 24-82-1004. Leased Assets Not Subject to Taxation
A qualified state capital asset that is the subject of a leveraged leasing agreement shall be treated for tax purposes as tax-exempt property owned by the state. Source: L. 2003: Entire part added, p. 1719, § 1, effective May 14.
§ 24-82-1005. Liability Not Created by Leveraged Leasing Agreement – Indemnification Agreements
The lease of a qualified state capital asset by the state to a private person and the sublease of the asset back to the state by the private person pursuant to a leveraged leasing agreement shall not cause the private person to whom the qualified state capital asset is being leased to incur any liability […]
§ 24-82-1201. Definitions
As used in this part 12, unless the context otherwise requires: “Approved building project” means a capital construction project involving a lease that receives approval from the capital development committee and the joint budget committee pursuant to section 24-82-1202 (2). “Commission” means the Colorado commission on higher education established pursuant to section 23-1-102, C.R.S. “State […]
§ 24-82-1202. Leases of Buildings
Subject to the provisions of this part 12, the executive director of a state department, or the governing board of an institution of higher education, is authorized to execute a lease agreement for up to thirty years for the rental of an approved building project. Prior to executing a lease agreement authorized pursuant to this […]
§ 24-82-1203. Payment Obligations Subject to Annual Appropriation by the General Assembly
Each lease agreement entered into pursuant to the provisions of this part 12 shall provide that all payment obligations of the state under the lease agreement are subject to annual appropriation by the general assembly and that the obligations shall not be deemed or construed as creating an indebtedness of the state within the meaning […]