§ 25-25-101. Short Title
This article shall be known and may be cited as the “Colorado Health Facilities Authority Act”. Source: L. 77: Entire article added, p. 1304, § 1, effective July 1.
§ 25-25-102. Legislative Declaration
The general assembly hereby finds and declares that, for the benefit of the people of the state of Colorado and the improvement of their health, welfare, and living conditions: It is essential that the people of this state have adequate medical care and health facilities; It is important that medical care and health facilities are […]
§ 25-25-103. Definitions
As used in this article, unless the context otherwise requires: “Authority” means the Colorado health facilities authority created by this article. “Board” means the board of directors of the authority. “Bond”, “note”, “bond anticipation note”, or “other obligation” means any bond, note, debenture, interim certificate, or other evidence of financial indebtedness issued by the authority […]
§ 25-25-104. Colorado Health Facilities Authority – Creation – Membership – Appointment – Terms – Vacancies – Removal
There is hereby created an independent public body politic and corporate to be known as the Colorado health facilities authority. Said authority is constituted a public instrumentality, and its exercise of the powers conferred by this article shall be deemed and held to be the performance of an essential public function. The authority shall be […]
§ 25-25-105. Organization Meeting – Chair – Executive Director – Surety Bond – Conflict of Interest
A member of the board, designated by the governor, shall call and convene the initial organizational meeting of the board and shall serve as its chair pro tempore. At such meeting, appropriate bylaws shall be presented for adoption. The board’s bylaws may provide for the election or appointment of officers, the delegation of certain powers […]
§ 25-25-106. Meetings of Board – Quorum – Expenses
Four members of the board shall constitute a quorum for the purpose of conducting business and exercising its powers. Action may be taken by the board upon the affirmative vote of at least four of its members. A vacancy in the membership of the board shall not impair the right of a quorum of the […]
§ 25-25-107. General Powers of Authority
In addition to any other powers granted to the authority by this article, the authority shall have the following powers: To have perpetual existence and succession as a body politic and corporate; To adopt and from time to time amend or repeal bylaws for the regulation of its affairs and the conduct of its business, […]
§ 25-25-108. Acquisition of Property
The authority may, directly or by or through a participating health institution as its agent, acquire by purchase, lease, gift, devise, or otherwise such lands, structures, real or personal property, rights-of-way, franchises, easements, and other interests in lands, including lands lying under water and riparian rights which are located within or without the state, as […]
§ 25-25-109. Notes
The authority may issue from time to time its negotiable notes for any corporate purpose, including the payment of all or any part of the cost of any facility, and may renew from time to time any notes by the issuance of new notes, whether the notes to be renewed have or have not matured. […]
§ 25-25-110. Bonds
The authority may issue from time to time its bonds in such principal amount as the authority shall determine for the purpose of financing all or a part of the cost of any health institutions or any facilities authorized by this article or for the refinancing of outstanding obligations. In anticipation of the sale of […]
§ 25-25-111. Negotiability of Bonds
All bonds and the interest coupons applicable thereto are hereby declared and shall be construed to be negotiable instruments. Source: L. 77: Entire article added, p. 1313, § 1, effective July 1.
§ 25-25-112. Security for Bonds and Notes
The principal of and interest on any bonds or notes issued by the authority may be secured by a pledge of, or security interest in, the revenues, rentals, and receipts out of which the same may be made payable or from other moneys available therefor and not otherwise pledged or used as security and may […]
§ 25-25-113. Personal Liability
Neither the members of the authority nor any person executing the bonds or notes shall be liable personally on bonds or notes or be subject to any personal liability or accountability by reason of the issuance thereof. Source: L. 77: Entire article added, p. 1314, § 1, effective July 1.
§ 25-25-114. Purchase
The authority may purchase its bonds or notes out of any funds available therefor. The authority may hold, pledge, cancel, or resell such bonds or notes, subject to and in accordance with agreements with bondholders or noteholders. Source: L. 77: Entire article added, p. 1314, § 1, effective July 1.
§ 25-25-115. Procedure Concerning Issuance of Bonds
Notwithstanding any other provisions of this article, the authority may not undertake any facility authorized by this article unless, prior to the issuance of any bonds or notes, the board finds that the facility will enable or assist a health institution to fulfill its obligation to provide health facilities. (Deleted by amendment, L. 2007, p. […]
§ 25-25-116. Trust Agreement to Secure Bonds
In the discretion of the authority, any bonds issued under this article may be secured by a trust agreement between the authority and a corporate trustee or trustees. A corporate trustee may be any trust company or bank in Colorado. If the authority determines it to be in the best interests of the financing, a […]
§ 25-25-117. Payment of Bonds – Nonliability of State
Bonds and notes issued by the authority shall not constitute or become an indebtedness, a debt, or a liability of the state, the general assembly, or any county, city, city and county, town, school district, or other subdivision of the state, or of any other political subdivision or body corporate and politic within the state, […]
§ 25-25-118. Exemption From Taxation – Securities Law
The authority is hereby declared to be a public instrumentality of the state, performing a public function for the benefit of the people of the state for the improvement of their health and living conditions. Accordingly, the income or other revenues of the authority, all properties at any time owned by the authority, any bonds, […]
§ 25-25-119. Rents and Charges
A sufficient amount of the revenues derived in respect of a facility, except such part of such revenues as may be necessary to pay the cost of maintenance, repair, and operation and to provide reserves and for renewals, replacements, extensions, enlargements, and improvements as may be provided for in the resolution authorizing the issuance of […]
§ 25-25-120. Fees
All expenses of the authority incurred in carrying out the provisions of this article shall be payable solely from funds provided under the authority of this article, and no liability shall be incurred by the authority beyond the moneys which are provided pursuant to this article; except that, for the purposes of meeting the necessary […]