§ 43-4-501. Short Title
This part 5 shall be known and may be cited as the “Public Highway Authority Law”. Source: L. 87: Entire part added, p. 1843, § 1, effective August 27.
§ 43-4-502. Legislative Declaration
The general assembly hereby finds, determines, and declares that: The necessity for this part 5 results from the large population and population growth within metropolitan regions in the state, from the significant and growing demand for construction of beltways within such metropolitan regions to facilitate traffic movement in such metropolitan regions and the inadequacy of […]
§ 43-4-503. Definitions
As used in this part 5, unless the context otherwise requires: “Authority” means a body corporate and political subdivision of the state created pursuant to this part 5. “Board” means the board of directors of an authority. “Bond” means any bond, note, interim certificate, contract, or other evidence of indebtedness of an authority authorized by […]
§ 43-4-504. Creation of Authorities
Any combination may create, by contract, an authority which shall be authorized to exercise the functions conferred by the provisions of this part 5 upon the issuance by the director of the division of a certificate stating that the authority has been duly organized according to the laws of the state. Such certificate shall be […]
§ 43-4-505. Board of Directors
All powers, privileges, and duties vested in or imposed upon the authority shall be exercised and performed by and through the board. The board, by resolution, may delegate any of the powers of the board to any of the officers or agents of the board; except that, to ensure public participation in policy decisions, the […]
§ 43-4-506. Powers of the Authority – Inclusion or Exclusion of Property – Determination of Public Highway Alignment
In addition to any other powers granted to the authority pursuant to this part 5, the authority has the following powers: To have perpetual existence, except as otherwise provided in the contract; To sue and be sued; To enter into contracts and agreements affecting the affairs of the authority; To establish, collect, and, from time […]
§ 43-4-506.5. Traffic Laws – Toll Collection
The traffic laws of this state, and those of any municipality through which passes a public highway constructed, operated, or maintained by an authority, and such an authority’s rules and regulations regarding toll collection and enforcement shall pertain to and govern the use of any such public highway. State and local law enforcement authorities are […]
§ 43-4-507. Local Improvement Districts
The board may establish local improvement districts within the boundaries of the authority to facilitate the financing, construction, operation, or maintenance of public highways within or without the boundaries of the authority. Such local improvement districts may be established by the board whenever any area within the boundaries of the authority, in the opinion of […]
§ 43-4-508. Value Capture Areas
The board may establish one or more value capture areas within its boundaries to facilitate the financing and construction, operation, or maintenance of public highways within or without the boundaries of the authority. Such value capture areas may be established by the board whenever the market value of any area within the boundaries of the […]
§ 43-4-509. 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 as designated by the board. Bonds may be executed and delivered by the authority […]
§ 43-4-510. Cooperative Powers
The authority has the power to cooperate with any person: To accept contributions, loans, or advances from any person with respect to the financing, construction, operation, or maintenance of a public highway and in connection with any loan or advance to enter into contracts establishing the repayment terms; To enter into contracts with respect to […]
§ 43-4-511. Powers of Governmental Units
A governmental unit, for the purpose of aiding and cooperating in the financing, construction, operation, or maintenance of any public highway, has the power: To sell, lease, loan, donate, grant, convey, assign, transfer, and otherwise dispose to the authority any real or personal property or interests therein; To enter into agreements with any person for […]
§ 43-4-512. Referendum
No action by an authority to establish or increase any annual motor vehicle registration fee authorized by this part 5 shall take effect unless first submitted to a vote of the registered electors of that portion of the combination in which the fee is proposed to be collected at a general election, or a special […]
§ 43-4-513. Notice – Opportunity for Comment
The board of any authority created pursuant to this part 5, at least forty-five days prior to any meeting at which the board shall consider or take action on a proposal to establish, increase, or decrease any fee authorized by this part 5, shall deliver written notice of the meeting and proposal to any municipality […]
§ 43-4-514. Notice – Coordination of Information – Report
At least forty-five days prior to the creation of any authority or value capture area pursuant to this part 5, a notice containing the proposed boundaries of the authority or value capture area and the methods proposed for financing public highways in the authority or a copy of the value capture plan shall be sent […]
§ 43-4-515. Successor to Prior Entity – Assumption of Obligations and Liabilities – Action for Mandamus or Injunctive Relief
An authority, if the contract establishing it so provides, shall be the successor to any nonprofit corporation, agency, or other entity theretofore organized to provide public highways, shall be entitled to all rights and privileges, and shall assume all obligations and liabilities of such other entity under existing contracts to which such entity is a […]
§ 43-4-516. 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 part 5 and with those parties who enter into contracts with the authority or any member of the combination pursuant to this part 5 that the state will not limit, alter, restrict, or impair the rights vested in the authority […]
§ 43-4-517. 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 said part 6 […]
§ 43-4-518. 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 moneys within their control in any bonds issued under this part 5. Public entities, as defined in section 24-75-601 (1), C.R.S., may invest public funds in such bonds only if said bonds satisfy the […]
§ 43-4-519. Exemption From Taxation – Securities Laws
The income or other revenues of the authority, all properties at any time owned by 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 in the state. In the resolution or indenture authorizing the […]