§ 32-14-101. Short Title
This article shall be known and may be cited as the “Denver Metropolitan Major League Baseball Stadium District Act”. Source: L. 89: Entire article added, p. 1327, § 1, effective June 2.
§ 32-14-102. Legislative Declaration
The general assembly hereby finds, determines, and declares that the location of a major league baseball franchise in the state of Colorado would be a source of recreational entertainment for the residents of the state; that a major league baseball franchise would stimulate economic development throughout the state resulting in increased tourism, the creation and […]
§ 32-14-103. Definitions
As used in this article, unless the context otherwise requires: “Board” means the board of directors of the Denver metropolitan major league baseball stadium district created by this article. “Commission” means the Colorado baseball commission created by this article. “Commissioner” means a member of the commission. “Director” means a member of the board. “District” means […]
§ 32-14-104. Creation of District – Area of District
There is hereby created a district to be known and designated as the Denver metropolitan major league baseball stadium district. The district shall be a body corporate and politic and a political subdivision of the state. The area comprising the district shall consist of: That area comprising the regional transportation district, as specified in section […]
§ 32-14-105. Authorizing Election
The board created in section 32-14-106 may submit to the registered electors within the geographical boundaries of the district, at a general election, at a special election not paid for with public funds, or at a primary election for which the additional cost of the ballot question is prepaid and is not paid with public […]
§ 32-14-106. Board of Directors – Membership – Qualifications
The district created in section 32-14-104 shall be governed by a board of directors which shall consist of seven directors. No director shall be an elected official. Initial appointments to the board shall be made within ninety days after June 2, 1989. The seven directors shall be appointed by the governor, with the consent of […]
§ 32-14-107. Board of Directors – Powers and Duties
In addition to any other powers specifically granted to the board in this article, the board shall have the following powers and duties: To fix the time and place at which its regular and special meetings shall be held within the geographical boundaries of the district; To adopt and from time to time amend or […]
§ 32-14-108. Conflicts of Interest Prohibited
No director, employee, or agent of the district shall be interested in any contract or transaction with the district except in his official representative capacity. No director may vote in favor of a specific stadium site if such director or any member of the immediate family of such director has any direct or indirect financial […]
§ 32-14-109. Records of Board – Audits – Legislative Oversight – Powers and Duties of State Auditor
All resolutions and orders shall be recorded and authenticated by the signature of the chairman of the board and the secretary. Every legislative act of the board of a general or permanent nature shall be by resolution. The book of resolutions and orders shall be a public record. A record shall also be made of […]
§ 32-14-110. Privatization – Study and Consideration
The board shall study, consider, and pursue opportunities for privatizing the costs of acquiring a stadium site, the costs of constructing a stadium, or the costs of operating a stadium in order to minimize the use of sales tax revenues to the greatest extent possible for the purposes of this article 14. Such methods to […]
§ 32-14-111. Criteria – Stadium Site – Stadium
The board shall establish criteria for the stadium site and the stadium. In establishing such criteria, the board shall consider factors which it deems relevant including, but not limited to: The need for access to the site by motor vehicles, pedestrians, and others using the stadium, including the proximity to highways, the capacity of surrounding […]
§ 32-14-112. Consultation With Urban Land Institute – Colorado Baseball Commission – Consideration of Recommendations
The board shall consult with and shall consider any recommendations made by the urban land institute or by the Colorado baseball commission in regard to the duties of the board, including but not limited to the selection of a stadium site, the planning and design of the stadium, and the financing of the stadium site […]
§ 32-14-113. Costs – Acquisition of Stadium Site – Construction of Stadium – Use of Public Moneys – Target Percentage
The district shall make every reasonable effort to obtain funding for a target amount of at least fifty percent of the total costs incurred by the district in the acquisition of a stadium site and in the construction of a stadium from moneys acquired from sources other than the levy and collection of the sales […]
§ 32-14-114. Sales Tax Imposed – Collection – Administration of Tax – Discontinuance
Upon the approval of the registered electors pursuant to the provisions of section 32-14-105 and upon the granting of a major league baseball franchise by major league baseball to be located in the district, the board shall have the power to levy such uniform sales tax for a period not to exceed twenty years throughout […]
§ 32-14-115. Sales Tax Revenues – Use
Sales tax revenues levied and collected pursuant to the provisions of section 32-14-114 shall be used by the board for the following purposes: To reimburse the board for the day-to-day operating costs incurred in the administration of the district; however, such costs shall not exceed three-fourths of one percent of the amount of sales tax […]
§ 32-14-116. Operating Revenues – Use
Any operating revenues generated by the district, including, but not limited to, lease payments, fees, rentals, rates, tolls, penalties, and charges for services, programs, or facilities furnished by the district, shall be used by the board for the following purposes: To pay for the expenses incurred by the board in the general operation of the […]
§ 32-14-117. Issuance of Special Obligation Bonds
Upon the approval of the registered electors pursuant to the provisions of section 32-14-105, the district may borrow money in anticipation of the revenues generated from the operation of a stadium and sales tax revenues of the district and may issue special obligation bonds to evidence the amount so borrowed. If the district issues special […]
§ 32-14-118. Pledge of Sales Tax Revenues and Net Operating Revenues
The payment of special obligation bonds may be secured by the specific pledge of sales tax revenues of the district, operating revenues of the district, or moneys or assets of the district held in escrow as the board, in its discretion, may determine. Operating revenues, sales tax revenues, or moneys or assets held in escrow […]
§ 32-14-119. Payment, Recital, and Securities
Special obligation bonds issued pursuant to the provisions of this article and constituting special obligations shall recite in substance that the obligations and the interest thereon are payable solely from operating revenues of the district, sales tax revenues of the district, or moneys or assets of the district held in escrow, as the case may […]
§ 32-14-120. Incontestable Recital in Securities
Any authorizing resolution, or other instrument relating thereto pursuant to the provisions of this article, may provide that each security therein designated shall recite that it is issued pursuant to the authority of this article. Such recital shall conclusively impart full compliance with all of the provisions of this article, and all securities issued containing […]