§ 32-22-104. Board of Directors – Appointment – Meetings – Compensation – Conflicts of Interest
The district is governed by a board of directors, all of whom shall represent the residents of the district, which consists of: Six directors appointed by the governor and confirmed by the senate. The directors appointed by the governor shall support the purposes of the district as outlined in subsection (2) of this section, and […]
§ 32-22-105. Board of Directors – Powers and Duties
Except as otherwise specifically provided in this article 22, the board, acting by a majority vote of a quorum of its total membership, shall exercise and perform all powers, privileges, and duties vested in or imposed upon the district pursuant to this article 22. The board may delegate any of its powers to its officers […]
§ 32-22-106. District – General Powers and Duties – Funds Created
In addition to any other powers granted to the district by this article 22, the district has the following powers: To have perpetual existence; To sue and be sued; To enter into contracts and agreements with any person, including the United States department of transportation and Amtrak, as necessary to exercise its powers and fulfill […]
§ 32-22-107. Station Area Improvement Districts
With the approval of each county or municipality having jurisdiction over the area of such a district, the district may establish a station area improvement district to finance the construction, operation, or maintenance of a station for a passenger rail system. A station area improvement district may consist only of all or a portion of […]
§ 32-22-108. Bonds
The district may issue bonds for any of its corporate purposes. The district shall issue bonds pursuant to a resolution of the board, and bonds shall be payable solely out of all or a specified portion of the revenue of the district as designated by the board. As provided in the resolution of the board […]
§ 32-22-109. Taxes, Assessments, and Multiple-Fiscal Year Borrowing – Voter Approval Required
No action by the district to establish or increase any tax and no action of the governing body of any station area improvement district to establish or increase any tax or any special assessment on real property authorized by this article 22 shall take effect unless it is first submitted, as applicable, to a vote […]
§ 32-22-110. District – Successor to Southwest Chief and Front Range Passenger Rail Commission – Additional Authority to Succeed Prior Entity – Assumption of Rights, Obligations, and Liabilities
The district is the successor to the contractual rights and obligations of the southwest chief and front range passenger rail commission as the commission existed before its authorizing statutes were repealed and the commission was terminated by Senate Bill 21-238, enacted in 2021, and, to the extent permitted by federal law, also is the successor […]
§ 32-22-111. Agreement of the State Not to Limit or Alter Rights of Obligees
The state hereby pledges and agrees with the holders of any bonds issued under this article 22 and with any parties who enter into contracts with the district pursuant to this article 22 that the state will not impair the rights vested in the district or the rights or obligations of any person with which […]
§ 32-22-112. Investments
The district may invest or deposit any money of the district in the manner provided by part 6 of article 75 of title 24. In addition, the district may direct a corporate trustee that holds district money to invest or deposit the money in investments or deposits other than those specified by said part 6 […]
§ 32-22-113. Bonds Eligible for Investment
All banks, trust companies, savings and loan associations, insurance companies, executors, administrators, guardians, trustees, and other fiduciaries may legally invest any money within their control in any bonds issued pursuant to this article 22. Public entities, as defined in section 24-75-601 (1), may invest public money in the bonds only if the bonds satisfy the […]