§ 32-15-101. Short Title
This article shall be known and may be cited as the “Metropolitan Football Stadium District Act”. Source: L. 96: Entire article added, p. 1054, § 1, effective May 23.
§ 32-15-102. Legislative Declaration
The general assembly hereby finds, determines, and declares that: There is a question of whether Mile High stadium is viable physically and economically; The general assembly and the public are in need of a full and objective review of the viability of Mile High stadium and the possible need for renovating Mile High stadium or […]
§ 32-15-103. Definitions
As used in this article, unless the context otherwise requires: “Board” means the board of directors of the metropolitan football stadium district created in section 32-15-105. “Commission” means the football stadium site selection commission created in section 32-15-128. “Director” means a member of the board. “District” means the metropolitan football stadium district created in section […]
§ 32-15-104. Creation of District – Area of District
There is hereby created a district to be known and designated as the metropolitan football stadium district. The district shall be a body corporate and politic and a political subdivision of the state. Except as provided in subsection (1.5) of this section, the area comprising the district shall consist of: That area comprising the regional […]
§ 32-15-104.3. District Area – Town of Castle Rock in Douglas County
In consideration of the fact that various noncontiguous parcels containing less than twenty percent of the residents of the town of Castle Rock are included in the district, the voters within the boundaries of the town of Castle Rock may elect to consolidate the status of the town of Castle Rock as completely included in […]
§ 32-15-104.5. Annexation of Enclaves
When any unincorporated territory is entirely contained within the boundaries of the district, the board may, by resolution, annex the territory to the district. The board shall give notice of a proposed annexation resolution by publishing a copy of the resolution once a week for four successive weeks in a newspaper of general circulation in […]
§ 32-15-105. Board of Directors – Membership – Qualifications
The district shall be governed by a board of directors which shall consist of nine directors as follows: Six directors representing the counties and the city and county of Denver in the metropolitan Denver area of which one director shall be appointed by the county commissioners of each of the counties of Adams, Arapahoe, Boulder, […]
§ 32-15-106. 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 duties and powers: To review any reports and studies made and to obtain any additional reports and studies it deems necessary pertaining to the costs of maintaining and repairing Mile High stadium and the costs […]
§ 32-15-107. Authorizing Election
For purposes of complying with the provisions of section 20 (4) of article X of the state constitution and upon receipt of a notice from the secretary of state stating that a valid petition has been filed and verified and the adoption of a resolution by the board as set forth in section 32-15-106 (1)(f), […]
§ 32-15-108. Position of Trust – Conflicts of Interest
The position of director, employee, adviser, or agent of the district is declared to be a position of public trust, and, therefore, in order to ensure the confidence of the people of the state in the integrity of the district and the board, the directors, employees, advisers, and agents of the district shall be subject […]
§ 32-15-109. 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 chairperson 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 […]
§ 32-15-110. Sales Tax Imposed – Collection – Administration of Tax – Discontinuance
Upon the approval of the registered electors pursuant to the provisions of section 32-15-107, the board shall have the power to levy such uniform sales tax upon the adoption of a resolution for a period commencing after the termination of the sales tax levied and collected by the Denver metropolitan major league baseball stadium district […]
§ 32-15-110.5. Admissions Tax Imposed – Collection – Discontinuance
Upon the approval of the registered electors pursuant to the provisions of section 32-15-107, the board shall have the power to levy an admissions tax upon the adoption of a resolution for a period not to extend beyond January 1, 2012, upon every purchase of an admission to a new stadium constructed by the district […]
§ 32-15-111. Sales Tax and Admissions Tax Revenues – Use
Sales tax revenues and admissions tax revenues levied and collected pursuant to the provisions of sections 32-15-110 and 32-15-110.5 shall be used by the board for the following purposes: To pay the principal, interest, and prepayment premium, if any, on outstanding special obligation bonds issued by the board pursuant to the provisions of this article; […]
§ 32-15-112. 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 the principal, interest, and prepayment premium, if any, on outstanding special obligation bonds […]
§ 32-15-113. Issuance of Special Obligation Bonds
Upon the approval of the registered electors pursuant to the provisions of section 32-15-107, the district may borrow money in anticipation of the revenues generated from the operation of a stadium and sales tax revenues and from admissions tax revenues, if any, of the district and may issue special obligation bonds in the maximum principal […]
§ 32-15-114. Pledge of Sales and Admissions Tax Revenues and Net Operating Revenues
The payment of special obligation bonds may be secured by the specific pledge of sales tax revenues and admissions 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, admissions tax revenues, […]
§ 32-15-115. 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, admissions tax revenues of the district, or moneys or assets of the district held […]
§ 32-15-116. 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 […]
§ 32-15-117. Limitation Upon Payment
The payment of special obligation bonds shall not be secured by any encumbrance, mortgage, or other pledge of property of the district, other than operating revenues, sales tax revenues, admissions tax revenues, or moneys or assets held in escrow. No property of the district, subject to this exception, shall be liable to be forfeited or […]