§ 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 […]
§ 24-82-1204. Terms and Conditions of Lease Agreements
A lease agreement, financed purchase of an asset agreement, or certificate of participation agreement entered into pursuant to this part 12 may contain such terms, provisions, and conditions as the executive director of the leasing state department or the governing board of the leasing institution may deem appropriate. Any lease agreement entered into pursuant to […]
§ 24-82-1205. Ancillary Agreements
The executive director of a leasing state department or the governing board of the leasing institution may enter into or execute, or may negotiate with an officer of the state to enter into or execute, a deed, conveyance, escrow agreement, or other agreement or instrument that he or she or the board deems necessary or […]
§ 24-82-1206. Fiscal Rules Inapplicable – Independent Powers
The provisions of section 24-30-202 (5)(b) shall not apply to a lease agreement or ancillary agreement entered into pursuant to this part 12. Any provision of the fiscal rules promulgated pursuant to section 24-30-202 (1) or (13) which the controller deems to be incompatible with or inapplicable to a lease agreement entered into pursuant to […]
§ 24-82-1207. Inapplicability of Part 7
The provisions of part 7 of this article shall not apply to leases entered into pursuant to this part 12. Source: L. 2005: Entire part added, p. 1335, § 1, effective June 3.