§ 29-23-101. Short Title

This article shall be known and may be cited as the “Pueblo Depot Activity Development Authority Act”. Source: L. 94: Entire article added, p. 954, § 1, effective April 28.

§ 29-23-102. Legislative Declaration

The general assembly hereby finds and declares that: Changes in the world’s political, social, and economic policies have resulted in changes in the military needs of the United States; Congress has ordered that certain military installations be closed or realigned pursuant to the “Defense Authorization and Base Realignment and Closure Act”, 26 U.S.C. sec. 2687, […]

§ 29-23-103. Definitions

As used in this article, unless the context otherwise requires: “Authority” means the Pueblo depot activity development authority created by this article. “Board” means the board of directors of the Pueblo depot activity development authority. “Bond” means any bond, note, interim certificate, contract, or other evidence of indebtedness of the authority authorized by this article. […]

§ 29-23-104. Authority – Creation

There is hereby created the Pueblo depot activity development authority which shall be a body corporate and politic and a political subdivision of the state. The authority shall not be an agency of state government. The authority shall have perpetual existence and succession. Source: L. 94: Entire article added, p. 956, § 1, effective April […]

§ 29-23-105. Boundaries of the Authority – Inclusion – Exclusion

The area comprising the authority shall consist of: Property may be included in the area comprising the authority upon satisfying the following requirements: The owner of the property considered for inclusion must file a written petition to include property with the board; and The Pueblo county board of county commissioners and the city council of […]

§ 29-23-106. Board of Directors – Membership

The authority shall be governed by a board of directors which shall consist of seven members. Three members shall be appointed by the Pueblo county board of county commissioners, three members shall be appointed by the city council of the city of Pueblo, and one shall be jointly appointed by the Pueblo county board of […]

§ 29-23-107. Board of Directors – Organization

The member appointed jointly by the Pueblo county board of county commissioners and the city council of the city of Pueblo shall call and convene the initial organizational meeting of the board and shall serve as the initial chair. At such meeting, the board shall adopt, and at any time may amend, bylaws in relation […]

§ 29-23-108. Board of Directors – Powers and Duties

The board shall have the power to promote the reuse and development of the Pueblo depot activity for the benefit of the community and the state. In addition to any other powers specifically granted to the board in this article, the board has the following powers and duties: To have and to use a seal […]

§ 29-23-109. Annual Report

The authority shall, in addition to any other required audit or reporting requirements, present an annual written program and financial report to the Pueblo county board of county commissioners and the city council of the city of Pueblo no later than ninety days after the close of the authority’s fiscal year. Source: L. 94: Entire […]

§ 29-23-110. Bonds

The authority may, from time to time, issue bonds for any of its corporate purposes. The bonds shall be issued pursuant to resolution of the board and shall be payable solely out of all or a specified portion of the revenues of the authority as designated by the board. Bonds of the authority, as provided […]

§ 29-23-111. 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 and with those parties who enter into contract with the authority that the state will not limit, alter, restrict, or impair the rights vested in the authority or the rights or obligations of any person with which it contracts […]

§ 29-23-112. Investments

The authority may invest or deposit any funds in the manner provided by part 6 of article 75 of title 24, C.R.S. In addition, the authority may direct a corporate trustee which holds funds of the authority to invest or deposit such funds in investments or deposits other than those specified by such part 6 […]

§ 29-23-113. Bonds Eligible for Investment

All banks, trust companies, savings and loan associations, insurance companies, executors, administrators, guardian trustees, and other fiduciaries may legally invest any moneys within their control in any bonds issued under this article. Public entities, as defined in section 24-75-601 (1), C.R.S., may invest public funds in such bonds only if such bonds satisfy the investment […]

§ 29-23-114. Exemption From Taxation – Securities Laws

The income or other revenues of the authority, all property interests of the authority, any bonds issued by the authority, and the transfer of and the income from any bonds issued by the authority shall be exempt from all taxation and assessments of the state. Bonds issued by the authority shall be exempt from the […]

§ 29-23-115. Limitation of Actions

An action or proceeding, at law or in equity, to question the validity or enjoin the performance of any act or proceeding relating to the issuance of any bond of the authority shall be barred unless commenced within thirty days after the performance of the act or the effective date thereof, whichever is later. Source: […]