State Property

C.R.S. tit. 24, art. 82

in effect

C.R.S. § 24-82-101 Control of legislative space in the capitol, the legislative services building, and the state office building at 1525 Sherman street - responsibility of department of personnel for supervision of maintenance in capitol buildings group - exception - capitol complex master plan

24-82-101. Control of legislative space in the capitol, the legislative services building, and the state office building at 1525 Sherman street - responsibility of department of personnel for supervision of maintenance in capitol buildings group - exception - capitol complex master plan. (1) In accordance with the provisions of section 2-2-321 concerning space for the legislative department, subject to appropriations made by the general assembly and subject to the provisions of section 24-82-108, concerning preservation of the state capitol building, the legislative department, acting through the executive committee of the legislative council: (a) Shall have control of legislative spaces in the capitol; the legislative services building; the state office building at 1525 Sherman street, subject to the provisions of subsection (4)(b) of this section; the capitol building annex at 1375 Sherman street, subject to the provisions of subsection (4)(a) of this section; and the grounds adjacent to the capitol within the area bounded on the north by east Colfax avenue, on the west by Lincoln street, on the south by Fourteenth avenue, and on the east by Grant street, as shown on the official maps of the city and county of Denver, the state-owned grounds adjacent to the legislative services building at Fourteenth avenue and Sherman street, and the tunnels connecting the subbasements of the capitol, the legislative services building, and the state office building at 1525 Sherman street, together with all furniture, fixtures, furnishings, and equipment and all exhibits placed in and about said buildings; and (b) Shall be responsible for the supervision of the provision of maintenance for legislative spaces in the capitol, the legislative services building, the state office building at 1525 Sherman street subject to the provisions of subsection (4)(b) of this section, the capitol building annex at 1375 Sherman street subject to the provisions of subsection (4)(a) of this section, and the grounds and tunnels specified in subsection (1)(a) of this section if the executive committee of the legislative council adopts a resolution assuming such responsibility. The executive committee shall deliver a copy of any resolution it adopts pursuant to this subsection (1)(b) to the executive director of the department of personnel. (2) Except as otherwise provided in section 2-2-321, C.R.S., the department of personnel shall have control of executive space in the capitol and the grounds and any other property the state may acquire adjacent to the capitol other than the grounds and tunnels specified in paragraph (a) of subsection (1) of this section, together with all furniture, fixtures, furnishings, and equipment and all exhibits placed in and about such space or property, subject to appropriations made by the general assembly and subject to the provisions of section 24-82-108, concerning preservation of the state capitol building. Except as otherwise provided in paragraph (b) of subsection (1) of this section, the department of personnel shall be responsible for the supervision of the provision of maintenance for the state capitol buildings group, including assignment of all executive space owned and rented in the capitol buildings group, subject to appropriations made by the general assembly and subject to the provisions of section 2-2-321, C.R.S., concerning space for the legislative department, and subject to the provisions of section 24-82-108, concerning preservation of the state capitol building. (3) (a) The department of personnel shall enter into competitive negotiations for the acquisition of professional services, as specified in part 14 of article 30 of this title, to develop a master plan for the capitol complex. 2-2-321, C.R.S., concerning space for the legislative department, and subject to the provisions of section 24-82-108, concerning preservation of the state capitol building. (3) (a) The department of personnel shall enter into competitive negotiations for the acquisition of professional services, as specified in part 14 of article 30 of this title, to develop a master plan for the capitol complex. (b) The master plan is subject to final approval from the office of state planning and budgeting and the capital development committee. The master plan must be completed no later than December 1, 2014, and shall: (I) Determine space utilization needs for state agencies located in and near the capitol complex; (II) Prioritize the location of various state agencies based on their service functions; (III) Consider the symbolic importance of certain capitol complex buildings and grounds; (IV) Identify opportunities for co-locating state agencies; (V) Identify the most appropriate use of state-owned and leased space for state agencies; (VI) Identify opportunities for energy cost savings and improved sustainability within state-owned facilities; (VII) Assess and improve security for state-owned facilities, especially for those state agencies performing sensitive government functions; (VIII) Establish guidelines regarding the appropriate use and maintenance of grounds within the capitol complex; (IX) Assess existing parking capacity and identify the current and future need for capitol complex tenants, including the location of parking facilities; (X) Establish guidelines for future development within the capitol complex, including a multi-year plan for: (A) New and renovated capital construction projects; (B) Controlled maintenance projects; and (C) Real estate acquisition or disposition transactions as applicable; (XI) Review the pedestrian circulation around the capitol complex; (XII) Suggest financing options for future improvements and development; (XIII) Make recommendations on buying, selling, constructing, financing, or leasing properties in the capitol complex based on factors such as land use and centralization versus decentralization of state functions; and (XIV) Address any other issues that the office of the state architect deems important in relation to the goals of the master plan. (c) Notwithstanding any law to the contrary, all real estate-related capital requests by executive branch departments or the legislative branch for the capitol complex shall be evaluated by the office of the state architect, the office of state planning and budgeting, and the capital development committee against the capitol complex master plan developed pursuant to paragraph (a) of this subsection (3). (d) The capitol complex master plan shall be kept and maintained by the office of the state architect. (e) (I) The capitol complex master plan may be modified by the office of the state architect on an as-needed basis, subject to approval by the office of state planning and budgeting and the capital development committee. (II) At a minimum, an updated capitol complex master plan must be completed by the office of the state architect every ten years. Prior to completion of the updated master plan, the office of the state architect shall seek approval from the office of state planning and budgeting and the capital development committee of all amendments to the master plan. ting and the capital development committee. (II) At a minimum, an updated capitol complex master plan must be completed by the office of the state architect every ten years. Prior to completion of the updated master plan, the office of the state architect shall seek approval from the office of state planning and budgeting and the capital development committee of all amendments to the master plan. (f) For purposes of this subsection (3), the "capitol complex" includes the following buildings, facilities, and surface parking lots: (I) 1570 Grant street, Denver; (II) 1575 Sherman street, Denver; (III) 1525 Sherman street, Denver, and the surface parking lots located west and north of the building; (IV) 201 East Colfax avenue, Denver, and the surface parking lot located north of the building; (V) The state capitol building and grounds, 200 East Colfax avenue, Denver; (VI) 200 East 14th avenue, Denver; (VII) 1375 Sherman street, Denver; (VIII) 1341 Sherman street, Denver; (IX) 1313 Sherman street, Denver, and the surface parking lot located north of the building; (X) 1350 Lincoln street, Denver; (XI) 251 East 12th avenue, Denver; (XII) 690 Kipling street, Lakewood; (XIII) 700 Kipling street, Lakewood; (XIV) Executive residence, 400 East 8th avenue, Denver; (XV) 1881 Pierce street, Denver; (XVI) North campus buildings (north, east, and west), 1001 East 62nd avenue, Denver; and (XVII) Any other buildings, facilities, and surface parking lots belonging to the capitol complex acquired after May 28, 2013. (4) (a) The executive committee of the legislative council, the director of the division of capital assets in the department of personnel or the director's designee, the secretary of the senate or the secretary's designee, the chief clerk of the house of representatives or the chief clerk's designee, the director of the office of legislative legal services or the director's designee, the director of research of the legislative council or the director's designee, and the state auditor or the auditor's designee shall, after consultation and discussion, determine which areas in the capitol building annex at 1375 Sherman street are legislative space. The parties shall, subject to the approval of the executive committee of the legislative council and the governor, determine the legislative space in the capitol building annex at 1375 Sherman prior to the start of the first regular session of the seventy-fifth general assembly. The general assembly may enact legislation during the first regular session of the seventy-fifth general assembly to codify which areas in the capitol building annex are designated as legislative space. (b) Within one year after the date that the division of capitol assets in the department of personnel determines, with the agreement of the executive committee of the legislative council, that the work to convert the space, as determined pursuant to subsection (4)(a) of this section, in the capitol building annex at 1375 Sherman street to legislative space is complete, the legislative space at the state office building at 1525 Sherman street shall cease to be legislative space and shall become executive space.

C.R.S. § 24-82-102 State authorized to acquire property - disposition

24-82-102. State authorized to acquire property - disposition. (1) (a) On behalf of the state of Colorado and with the approval of the governor, the executive director of the department of personnel is authorized to acquire fee simple title, or any lesser interest therein, to any real property for present or future use by the state. Title to such property may be acquired by purchase, donation, financed purchase of an asset agreements, or certificate of participation agreements or by the exercise of the power of eminent domain through condemnation proceedings in accordance with law from funds appropriated by the general assembly or from funds donated to the state for the purpose. In the event that the executive director plans to acquire any real property by any of the means authorized by this subsection (1)(a), except for easements or rights-of-way, or to sell or otherwise dispose of such property, the executive director shall first submit a report to the capital development committee which outlines the anticipated use of the real property, the maintenance costs related to the property, the current value of the property, any conditions or limitations which may restrict the use of the property, and, in the event real property is acquired, the potential liability to the state which will result from such acquisition. The capital development committee shall review the reports submitted by the executive director and make recommendations to the executive director concerning the disposition of the real property. The executive director shall not acquire, sell, or otherwise dispose of any real property without considering the recommendations of the capital development committee. (b) Any financed purchase of an asset or certificate of participation agreement that is entered into pursuant to subsection (1)(a) of this section shall comply with the requirements of section 24-82-801. (c) to (e) (Deleted by amendment, L. 2009, (HB 09-1218), ch. 132, p. 570, § 3, effective July 1, 2009.) (f) As used in this section: (I) "Certificate of participation agreement" means any certificate evidencing a participation right of a proportionate interest in any financing agreement or the right to receive proportionate payments from the state or an agency due under any financing agreement. (II) "Financed purchase of an asset agreement" means a financing agreement that includes the purchase of an asset. (2) (a) The executive director of the department of personnel, with the approval of the governor, may rent or lease any real property not presently needed for state use and, under any such lease, with specific legislative authorization, may authorize the construction by the lessee on such property of any improvement which may be suitable for state use upon the termination of the lease, which improvement becomes the property of the state upon such termination at no additional cost to the state unless such costs are paid from funds appropriated by the general assembly or donated to the state for the purpose. (b) Repealed.

C.R.S. § 24-82-102.5 Unused state-owned real property - cash fund - legislative declaration - definitions

24-82-102.5. Unused state-owned real property - cash fund - legislative declaration - definitions. (1) (a) The general assembly hereby finds and declares that: (I) The state owns a surplus of real property that is not needed for state use that could provide benefits to Colorado, including for affordable housing, child care, public schools, residential mental and behavioral health care, and renewable energy; (II) The department of personnel is already authorized in section 24-82-102 (2)(a) to rent or lease real property not presently needed for state use; (III) The state has set ambitious goals to increase renewable energy production across Colorado; (IV) Families throughout Colorado continue to experience a shortage of quality and affordable child care options; (V) There is a continued need in Colorado for quality public school facilities; (VI) There is a continued need in Colorado for quality residential mental and behavioral health-care facilities; (VII) Many senior citizens, veterans, and other hard-working Coloradans are unable to afford to live in or near the communities in which they work and far too many Coloradans pay in excess of half their monthly income on their basic needs; (VIII) As the availability of finding land suitable for the development of affordable housing that can be obtained on an economic basis is often a significant barrier to the development of such housing, the identification of unused state-owned real property, with the ultimate objective of assessing such property for its sustainability and potential use for affordable housing, promises to be a critical tool available to the state and even local governments in meeting the state's housing needs for these segments of the population; and (IX) Since real property owned by the state ultimately belongs to the people of Colorado, the state should maximize the use and value of its resources, including unused real property, to address the needs of the state's population. (b) By enacting this section, the general assembly intends for the department to conduct a review of state-owned real property that is not presently used for state purposes and to transparently enter into agreements to construct affordable housing, child care facilities, public school facilities, residential mental and behavioral health-care facilities, or renewable energy production facilities on suitable unused state-owned real property and to determine other beneficial uses of any such unused state-owned real property. (2) As used in this section, unless the context otherwise requires: (a) "Department" means the department of personnel. (b) "Fund" means the unused state-owned real property fund created in subsection (5) of this section. (b.5) "Unit" means the public-private collaboration unit created in section 24-94-103 (2) within the department. (c) "Unused state-owned real property" means state-owned real property identified in the inventory list maintained on the department's website pursuant to subsection (3) of this section, that is not being used at its optimal or best use, that is owned by or under the control of a state agency, not including the division of parks and wildlife in the department of natural resources and not including the state board of land commissioners or any state institution of higher education as defined in section 24-30-1301 (18), and that is not otherwise protected for or dedicated to another use such as an access or a conservation easement. (3) (a) The department shall maintain an inventory of unused state-owned real property and shall post a list of the inventory on its website. The inventory must be updated annually. land commissioners or any state institution of higher education as defined in section 24-30-1301 (18), and that is not otherwise protected for or dedicated to another use such as an access or a conservation easement. (3) (a) The department shall maintain an inventory of unused state-owned real property and shall post a list of the inventory on its website. The inventory must be updated annually. (b) Repealed. (4) (a) The department shall determine whether the unused state-owned real property identified by the department under subsection (3) of this section is suitable for construction of affordable housing, child care facilities, public school facilities, residential mental and behavioral health-care facilities, or placement of renewable energy facilities, or may recommend that such property should be sold or is suitable for other purposes. (b) In determining the suitability of property under subsection (4)(a) of this section, the department may consult with and seek input from: (I) The state architect, or their designee; (II) The executive director of the department of local affairs, or their designee; (III) The Colorado housing and finance authority created in section 29-4-704 (1); (IV) Any relevant political subdivisions of the state; (V) Any additional renewable energy facility experts; (VI) Any additional child care, public school, and mental and behavioral health-care experts; and (VII) Any additional affordable housing experts. (c) Notwithstanding any section to the contrary, the department may seek proposals from qualified developers to construct affordable housing, child care facilities, public school facilities, or residential mental and behavioral health-care facilities, or to place renewable energy facilities on unused state-owned real property that the department has deemed suitable under subsection (4)(a) of this section. Proposals must be sought in accordance with the "Procurement Code", articles 101 to 112 of this title 24. (d) The department may enter into contracts with qualified developers for proposals to construct affordable housing, child care facilities, public school facilities, or residential mental and behavioral health-care facilities, or to place renewable energy facilities on unused state-owned real property that the department has deemed suitable under subsection (4)(a) of this section, subject to available appropriations. Notwithstanding section 24-82-102 (2)(a), contracts between the state and qualified developers may not require improvements constructed on state property for the purposes of this section to become the property of the state upon termination of a lease for such property. (e) In the event the department plans to enter into a contract regarding any unused state-owned real property as authorized by this section, or in the event the department enters into a lease of unused state-owned real property as allowed under section 24-82-102 (2)(a), the department shall first submit a report to the capital development committee that outlines the anticipated use of the property. The capital development committee shall review the reports submitted by the department, make recommendations to the department concerning the anticipated use of the unused state-owned real property, and approve or disapprove the anticipated use of the unused state-owned real property. The department shall not enter into a contract regarding unused state-owned real property or lease unused state-owned real property without the approval of the capital development committee. department, make recommendations to the department concerning the anticipated use of the unused state-owned real property, and approve or disapprove the anticipated use of the unused state-owned real property. The department shall not enter into a contract regarding unused state-owned real property or lease unused state-owned real property without the approval of the capital development committee. (5) (a) The unused state-owned real property fund is hereby created in the state treasury. Unless otherwise directed, the state treasurer shall credit all proceeds from the sale, rent, or lease, including any leases entered into under section 24-82-102 (2)(a), of unused state-owned real property, any money transferred or credited pursuant to subsection (5)(b) of this section, and any revenue generated from public-private agreements pursuant to section 24-94-103 to the fund. The fund also consists of any other money that the general assembly may appropriate or transfer to the fund. (b) (I) The state treasurer shall credit all interest and income derived from the deposit and investment of money in the unused state-owned real property fund to the fund. Any unexpended and unencumbered money in the fund at the end of a fiscal year remains in the fund. (II) The unit may seek and accept gifts, grants, or donations from private or public sources, and the department or the unit may expend the gifts, grants, or donations for the purposes set forth in subsection (5)(c) of this section. The unit shall transmit all money received through gifts, grants, or donations to the state treasurer, who shall credit the money to the fund. (III) Any proceeds from real estate transactions that the unit is authorized to facilitate pursuant to section 24-94-103 (2.2)(a) shall be transmitted by the unit or by the department to the state treasurer, who shall credit the money to the fund. (c) (I) The money in the unused state-owned real property fund is continuously appropriated to the department for: (A) The purposes set forth in this section, including for appraisals, surveys, and property improvement, and for any costs to administer this section; (B) Public-private agreements, as defined in section 24-94-102 (7), and any associated costs; (C) Use by the unit to carry out the functions of the unit pursuant to section 24-94-103 (2.2) for public projects that provide affordable housing; and (D) The standard operating expenses of the unit, including personal services and related costs. (II) Repealed. (d) Repealed.

C.R.S. § 24-82-103 Off-street parking - financing

24-82-103. Off-street parking - financing. (1) The department of personnel shall have the authority to acquire land for off-street parking and to construct related facilities, subject to specific appropriation for land acquisition and construction. (2) The department of personnel shall develop and execute priorities for assignment of off-street parking. Rentals and charges for state-owned parking in the capitol buildings group shall not be less than those charges applicable to comparable parking offered privately and shall be reviewed annually prior to July 1. (2.5) Notwithstanding the provisions of subsection (2) of this section, preferential rates shall be granted for parking spaces assigned to vehicles which are used by more than one person in going to and returning from work. Such rate shall be determined based upon the number of persons regularly going to and returning from work in the vehicle which is to be charged a preferential rate and shall decrease as the number of persons regularly going to and from work in such vehicle increases; except that no parking charge shall be made for any vehicle which regularly carries four or more persons, including the driver, in going to or returning from work. The office of state planning and budgeting shall provide that not less than ten percent of the available off-street parking shall be reserved for vanpool and carpool parking. (3) All existing balance in the capitol parking account and the farmers' union amortization account shall be transferred to the capital construction fund. (4) (a) Moneys received pursuant to this section in excess of those necessary to pay current capital and operating costs, which moneys to pay such costs are hereby appropriated, shall be deposited to the credit of a special account within the state treasury, and such moneys shall be expended only for incentives and programs to increase state employee participation in ridesharing arrangements, as defined in section 39-22-509 (1)(a)(II), C.R.S., and state employee use of bicycles or mass transit. (b) Notwithstanding subsection (4)(a) of this section, the department of personnel is authorized, subject to appropriation by the general assembly, to expend money in the special account described in subsection (4)(a) of this section for the purpose of demolishing the state-owned buildings in the capitol complex at 1550 Lincoln street and making payments on a financed purchase of an asset or certificate of participation agreement for a parking structure on the southeast corner of fourteenth avenue and Lincoln street in the capitol complex. (5) (a) There is hereby created in the department of personnel the capitol parking authority, referred to in this subsection (5) as the "authority", which shall be under the direction of the executive director of the department of personnel. The authority shall constitute an enterprise for the purposes of section 20 of article X of the state constitution so long as the authority retains the authority to issue revenue bonds pursuant to subsection (5)(b) of this section, and the authority receives less than ten percent of its total annual revenues from grants, as defined in section 24-77-102 (7), from all Colorado state and local governments combined. So long as the authority constitutes an enterprise pursuant to this section, the authority shall not be subject to any of the provisions of section 20 of article X of the state constitution. (b) Subject to approval by the general assembly, either by bill or by joint resolution, and after approval by the governor pursuant to section 39 of article V of the state constitution, the authority is hereby authorized to issue revenue bonds to finance the acquisition of land for off-street parking or the construction of related facilities.

C.R.S. § 24-82-104 Capitol thoroughfares - city and county of Denver regulation

24-82-104. Capitol thoroughfares - city and county of Denver regulation. (1) The driveways now existing upon the state capitol grounds at Denver, Colorado, extending from Colfax avenue to Fourteenth avenue and connecting with Sherman street at said intersections, are hereby declared to be reserved principally for the usage of employees and members of the executive department and the legislative department in the performance of their duties and for the usage of members of the public while attending functions at the state capitol. (2) The city and county of Denver is hereby granted jurisdiction to make such regulations as are deemed necessary to accomplish the purposes of subsection (1) of this section and shall have authority to enforce such regulations by means of any police powers established by ordinance of the city and county of Denver or other provisions of law for the management and control of other streets, highways, and public thoroughfares within said city and county. (3) The jurisdiction hereby granted shall not be deemed to convey any right, title, or interest in said driveways other than expressly provided and shall only extend to the purposes specified in this section, and the state of Colorado reserves the right at all times to revoke the powers hereby granted by act of the general assembly.

C.R.S. § 24-82-105 Security for state capitol buildings group - jurisdiction of law enforcement personnel on state property

24-82-105. Security for state capitol buildings group - jurisdiction of law enforcement personnel on state property. (1) (a) The city and county of Denver is granted jurisdiction to enforce the laws of the state of Colorado for the security of persons and property in the state capitol buildings group. In addition, the city and county of Denver is granted jurisdiction to enforce the ordinances of the city and county of Denver for the security of such persons and property. For the purposes of this subsection (1) and such enforcement, the ordinances of the city and county of Denver relating to access to and conduct on properties of the city and county of Denver referred to as parks shall likewise apply to the grounds of the state capitol buildings group, as to persons not having business thereon; except that the powers of the manager of parks and recreation enumerated in such ordinance shall not apply to such grounds. As used in this subsection (1), "state capitol buildings group" means those state-owned buildings, together with the state-owned grounds adjacent thereto, in the city and county of Denver within the area bounded on the north by Sixteenth avenue, on the west by Broadway, on the south by Eleventh avenue, and on the east by Grant street, as shown on the official maps of the city and county of Denver. (b) Repealed. (2) In addition to any other provision of law concerning jurisdiction of law enforcement personnel on state property, there is hereby vested in city police, town marshals, and county sheriffs, their undersheriffs and deputy sheriffs, jurisdiction to enforce the laws of this state on any state-owned or state-operated properties within their respective jurisdictions and to cooperate with members of the Colorado state patrol and other state law enforcement officers in such enforcement.

C.R.S. § 24-82-106 Acceptance - governor's approval

24-82-106. Acceptance - governor's approval. The department of personnel is authorized in the name and on behalf of the state to accept any devise or gifts inter vivos of property that may be donated to the state for the purpose of an executive mansion; but such acceptance shall be made only upon the approval of such donation by the governor.

C.R.S. § 24-82-107 Transfer of employees and property

24-82-107. Transfer of employees and property. Effective July 1, 1979, the officers and employees of the office of state planning and budgeting engaged prior to such date in the performance of the powers, duties, and functions vested by this part 1 in the department of personnel shall become employees of the department and shall retain all rights to state personnel system and retirement benefits under the laws of this state, and their services shall be deemed to have been continuous. Effective July 1, 1979, all of the books, records, reports, equipment, property, accounts, liabilities, and funds of the office of state planning and budgeting which pertain to the powers, duties, and functions vested by this part 1 in the department of personnel shall be transferred thereto.

C.R.S. § 24-82-108 State capitol building advisory committee - creation - duties - legislative declaration - repeal

24-82-108. State capitol building advisory committee - creation - duties - legislative declaration - repeal. (1) Legislative declaration. The general assembly hereby finds and declares that: (a) It is the intent of the general assembly to ensure that the historic character and architectural integrity of the capitol building and grounds be preserved and promoted; (b) The rose onyx, marble, granite, gold, oak woodwork, and brass fixtures and trim are deemed to be historic, and it is the intent of the general assembly to specify special procedures to be followed in any project affecting such items; (c) To ensure that structural changes and innovations do not injure or dramatically change the state capitol building or the historic items contained within the building or other areas as specified in this section, it is necessary to create the state capitol building advisory committee to advise the general assembly regarding the protection of the capitol building's historic character, including its art, memorials, furniture, and architectural fixtures; and (d) It is also necessary for the capitol building advisory committee to review, advise, and make recommendations to the general assembly regarding plans to restore, redecorate, and reconstruct historic areas within specified buildings and grounds in the capitol building annex. (2) State capitol building advisory committee creation. (a) (I) The state capitol building advisory committee, referred to in this section as the advisory committee, is hereby created. The advisory committee consists of the following twelve members: (A) Three members appointed by the speaker of the house of representatives, at least one of whom shall be a member of the house of representatives who has served at least one year in the house of representatives; (B) Three members appointed by the president of the senate, at least one of whom shall be a member of the senate who has served at least one year in the senate; (C) Four members appointed by the governor, at least one of whom must be an architect who is knowledgeable about the historic and architectural integrity of the state capitol building; and (D) The following ex officio members who are voting members of the advisory committee: The president of the state historical society or a designee of the president; and the executive director of the department of personnel or a designee of the executive director. (II) All members appointed by the governor shall serve two-year terms; except that the terms shall be staggered so that no more than three members' terms expire in the same year. (III) The terms of members appointed or reappointed by the speaker and the president expire on the convening date of the first regular session of each general assembly, and all subsequent appointments and reappointments by the speaker and the president shall be made as soon as practicable after such convening date. The person making the original appointment or reappointment shall fill any vacancy by appointment for the remainder of an unexpired term. Members appointed or reappointed by the president and the speaker serve at the pleasure of the appointing authority and continue in office until the member's successor is appointed. (b) Ex officio members of the advisory committee shall serve as long as their office is held. (c) The advisory committee shall meet at the state capitol no less than three times per year at the call of the chairman. One meeting shall be designated as the annual meeting. (d) At the annual meeting, the advisory committee members shall elect a chair from among its members to serve as chair for one year of such member's term. he advisory committee shall serve as long as their office is held. (c) The advisory committee shall meet at the state capitol no less than three times per year at the call of the chairman. One meeting shall be designated as the annual meeting. (d) At the annual meeting, the advisory committee members shall elect a chair from among its members to serve as chair for one year of such member's term. (e) All members of the advisory committee are volunteers and serve without per diem except as otherwise provided in section 2-2-326; except that members of the advisory committee must be reimbursed for necessary and actual expenses incurred in the performance of their duties. (3) Duties of the advisory committee. The advisory committee has the duties specified in subsections (3)(a) through (3)(i) of this section. (a) Plans to restore, redecorate, and reconstruct space in specified buildings and grounds. (I) The advisory committee shall review, advise, and make recommendations to the capital development committee regarding plans to restore, redecorate, and reconstruct space within the public and ceremonial areas of the state capitol building, the historic elements of the interior and exterior of the capitol building annex and the surrounding grounds of the capitol building annex, the legislative services building and the surrounding grounds of such building, and the surrounding grounds of the state capitol building bounded by Colfax avenue on the north, Grant street on the east, Fourteenth avenue on the south, and Broadway on the west, in the city and county of Denver. This includes but is not limited to the corridors, rotundas, lobbies, entrance ways, stairways, restrooms, porticos, steps, and elevators. (II) The committee is not responsible for reviewing, advising, or making recommendations concerning the executive suite and the areas used for office space, legislative chambers, and legislative committee meeting rooms, except as to structural modifications affecting the rose onyx, marble, granite, gold, oak woodwork, or brass fixtures and trim as specified in subsection (3)(b) of this section. (b) Projects affecting capitol building rose onyx, marble, granite, gold, oak woodwork, and brass fixtures and trim. (I) The advisory committee shall review all planned construction projects affecting the rose onyx, marble, granite, gold, oak woodwork, and brass fixtures and trim of the state capitol building, and shall submit a written report to the capital development committee containing the advisory committee's findings. An agency or department shall not begin a project that affects the rose onyx, marble, granite, gold, oak woodwork, and brass fixtures and trim without review by the advisory committee and the consent of the capital development committee. Alteration to the items listed in this subsection (3)(b) is not permitted in any area of the state capitol building until the project is reviewed by the advisory committee and approved by the capital development committee. (II) Notwithstanding the provisions of subsection (3)(b)(I) of this section, the department of personnel may perform emergency repairs where the safety of persons or the well-being of the building would be jeopardized by delay. The department of personnel shall undertake emergency repairs in a manner to prevent or minimize any damage to the rose onyx, marble, granite, gold, oak woodwork, or brass fixtures and trim of the state capitol building. n (3)(b)(I) of this section, the department of personnel may perform emergency repairs where the safety of persons or the well-being of the building would be jeopardized by delay. The department of personnel shall undertake emergency repairs in a manner to prevent or minimize any damage to the rose onyx, marble, granite, gold, oak woodwork, or brass fixtures and trim of the state capitol building. (c) Long-range planning for specified buildings and grounds in the capitol building annex. The advisory committee, in cooperation with the department of personnel and with the approval of the capital development committee, may engage in long-range planning for modifications and improvements to the space within the public and ceremonial areas of the state capitol building, the historic elements of the interior and exterior of the capitol building annex and the surrounding grounds of such building, the legislative services building and the surrounding grounds of such building, and the surrounding grounds of the state capitol building bounded by Colfax avenue on the north, Grant street on the east, Fourteenth avenue on the south, and Broadway on the west, in the city and county of Denver. This includes but is not limited to the corridors, rotundas, lobbies, entrance ways, stairways, restrooms, porticos, steps, and elevators. (d) Determination of items in the Colorado collection. The advisory committee shall determine, based on consultation with and the recommendations of history Colorado pursuant to subsection (3.5) of this section, which art, memorials, architectural fixtures, and furniture that is original to the state capitol building is part of the state's collection of historic materials known as the Colorado collection. (e) The advisory committee shall determine whether damaged pieces of furniture original to the state capitol building should be restored or renovated. (f) Publications on the history of the capitol building. (I) For the purpose of promoting historic interest in the state capitol building and for producing money to enhance preservation of original and historic elements of the state capitol building, the advisory committee has authority over publications on the history of the state capitol building and may authorize other state capitol building memorabilia for sale to the public. All money received from the sale of such items is credited to a special account within the public buildings trust fund established by section 8 of the "Enabling Act of Colorado", which account is hereby established. (II) The advisory committee is authorized to accept gifts, grants, or donations of any kind from any private or public source to carry out the purposes of this subsection (3)(f). All such gifts, grants, or donations shall be transmitted to the state treasurer who shall credit the same to the special account created in subsection (3)(f)(I) of this section within the public buildings trust fund. (III) Money in the special account created in subsection (3)(f)(I) of this section is continuously appropriated to the advisory committee for republishing and reissuing publications on the history of the state capitol building and other state capitol building memorabilia, for restoring, repairing, and enhancing the state capitol building, the historic elements of the interior and exterior of the capitol building annex, the legislative services building, and the grounds of such buildings, and for such other purposes as are necessary or incidental to accomplish the purposes of this subsection (3)(f). tate capitol building and other state capitol building memorabilia, for restoring, repairing, and enhancing the state capitol building, the historic elements of the interior and exterior of the capitol building annex, the legislative services building, and the grounds of such buildings, and for such other purposes as are necessary or incidental to accomplish the purposes of this subsection (3)(f). (g) Proposals for use of state capitol building driveways. The advisory committee shall evaluate proposals for uses of the state capitol building driveways in addition to those authorized in section 24-82-104. The advisory committee shall evaluate any proposals that are received from the general assembly, the governor, or the city and county of Denver. In its evaluation, the advisory committee shall consider any potential threat to the safety of individuals who are in or around the state capitol building, any potential interference with the operations of the executive department that are posed by any proposed additional use, and the relevant provisions of any current master plan for the state capitol building and surrounding area. Notwithstanding the provisions of section 24-82-104 (2), if the advisory committee determines that the proposed use is reasonable, the advisory committee shall direct the proposal to the capital development committee and the governor for approval. No additional use of the state capitol building driveways is effective without the approval of the capital development committee and the governor. (h) Proposals for a gift or loan of art and memorials. (I) Except as provided in subsection (3)(h)(II) of this section, all proposals involving the gift or loan of objects of art and memorials to be placed on a permanent or temporary basis in the state capitol building or on its surrounding grounds and proposals for fund-raising efforts to place objects of art or memorials in the state capitol building or on its surrounding grounds shall be submitted to the advisory committee for evaluation. The advisory committee shall develop criteria and a procedure for such evaluations, which shall include consulting with knowledgeable advisors to assist in evaluating each object of art or memorial individually. The advisory committee shall evaluate all proposals submitted to the advisory committee and present recommendations resulting from the evaluations as follows: (A) Proposals involving the gift or loan of objects of art and memorials pertaining to all public areas of the state capitol building, including but not limited to the corridors, rotunda, lobbies, entrance ways, stairways, restrooms, porticos, steps, and elevators must be submitted to the capital development committee for approval. No such proposal shall proceed without the prior approval of the capital development committee. (B) Proposals involving the gift or loan of objects of art and memorials pertaining to the surrounding grounds of the capitol building bounded by Colfax avenue on the north, Grant street on the east, Fourteenth avenue on the south, and Broadway on the west, in the city and county of Denver, must be submitted to the capital development committee and the governor for approval. No such proposal shall proceed without the prior approval of the capital development committee and the governor. (II) The provisions of this subsection (3)(h) do not apply to proposals pertaining to the outer office of the executive suite and those areas of the first floor used as office space by the executive department. bmitted to the capital development committee and the governor for approval. No such proposal shall proceed without the prior approval of the capital development committee and the governor. (II) The provisions of this subsection (3)(h) do not apply to proposals pertaining to the outer office of the executive suite and those areas of the first floor used as office space by the executive department. (III) The advisory committee is authorized to direct the removal of any objects of art or memorials that are placed in the state capitol building or on its surrounding grounds that have not been submitted to the advisory committee for evaluation and approval pursuant to the criteria and procedure developed by the advisory committee pursuant to subsection (3)(h)(I) of this section. This subsection (3)(h)(III) does not apply to objects of art or memorials placed prior to the formation of the advisory committee. (i) Duties of former fallen heroes memorial commission. (I) The advisory committee is responsible for any remaining duties of the former fallen heroes memorial commission as it existed in section 24-80-1402 prior to its repeal. The advisory committee shall perform any remaining duties with the assistance of the department of personnel and a Colorado 501(c)(3) organization created for the purpose of raising funds for the construction of the fallen heroes memorial. (II) This subsection (3)(i) is repealed, effective July 1 of the year following the receipt by the revisor of statutes of certification from the executive director of the department of personnel that the appropriate memorials have been constructed. (3.5) Items original to the state capitol building. (a) At the direction and under the supervision of the advisory committee, history Colorado, in cooperation with the legislative council staff, shall inventory all art, memorials, architectural fixtures, and furniture that is original to the state capitol building and make recommendations to the advisory committee regarding which items are appropriate for inclusion in the state's collection of historic materials known as the Colorado collection. The advisory committee shall determine, pursuant to subsection (3)(d) of this section, which inventoried items original to the capitol building are part of the Colorado collection. (b) History Colorado holds in trust for the people of Colorado any items original to the capitol building that are included as part of the Colorado collection pursuant to subsection (3)(d) of this section, however, the advisory committee retains authority over the collection on behalf of the general assembly and in accordance with the policies and requirements of the state register of historic properties created in section 24-80.1-103. (c) The art, memorials, architectural fixtures, and furniture that is original to the state capitol building, regardless of whether it is part of the Colorado collection pursuant to subsection (3)(d) of this section, must remain in the state capitol building at all times; except that such items original to the capitol building may be temporarily removed from the capitol building for conservation from time to time with the approval of the advisory committee. (4) Staff support. The advisory committee may call upon the staff of the legislative council, the office of legislative legal services, and the department of personnel to provide any necessary assistance in carrying out the committee's duties. Proposed plans to restore, redecorate, or reconstruct the building, or make alterations affecting the rose onyx, marble, granite, gold, oak woodwork, and brass fixtures or trim in the building must be submitted in writing to the staff of the legislative council and the department of personnel at least thirty days before such work is scheduled to begin. (5) Repealed.

C.R.S. § 24-82-109 State capitol building renovation fund

24-82-109. State capitol building renovation fund. The department of personnel shall have the authority to accept any bequests, gifts, and grants of any kind from any private source or from any governmental unit to be used for the renovation of the Colorado state capitol building. For the purposes of this section, "renovation" means the repair, remodeling, restoration, and preservation of the Colorado state capitol building and any fixtures or improvements associated therewith. The use of such bequests, gifts, and grants shall be subject to the conditions upon which the bequests, gifts, and grants are made; except that no bequest, gift, or grant shall be accepted if the conditions attached thereto require the use or expenditure thereof in a manner contrary to law or require expenditures from the general fund or any other fund in the state treasury unless such expenditures are approved by the general assembly. Such bequests, gifts, and grants, together with any other moneys appropriated or transferred by the general assembly, shall be credited to the Colorado state capitol building renovation fund, which fund is hereby created in the state treasury. The moneys in said fund shall be continuously appropriated to the department for expenditures recommended by the state capitol building advisory committee, created in section 24-82-108, and approved by the capital development committee and the joint budget committee for the purpose of renovating the Colorado state capitol building. All interest derived from the deposit and investment of moneys in the fund shall be credited to the fund. All unencumbered moneys in the fund at the end of any fiscal year not appropriated shall remain in the fund and shall not be transferred or revert to the general fund of the state.

C.R.S. § 24-82-201 Power to grant - utilities - public streets and highways

24-82-201. Power to grant - utilities - public streets and highways. All state institutions, departments, and other state agencies have the power to give and grant easements or rights-of-way across land owned by or under the control of the state or its institutions, departments, or agencies for construction and maintenance of public utilities, or of public streets and highways, or of public services, including but not limited to sanitary sewer lines, water lines, gas lines, telephone lines, electric power lines, or other services owned and controlled by a political subdivision or public corporation of the state of Colorado or of the United States, in accordance with the provisions of this part 2.

C.R.S. § 24-82-202 Approval

24-82-202. Approval. Any easement or right-of-way given or granted under this part 2 shall be only upon approval of the chief executive officer and the commission or board, if any, of the institution, department, or agency across the premises of which such easement or right-of-way shall cross, the executive director of the department of personnel, the governor, and the attorney general as to the legal form of the easement or right-of-way.

C.R.S. § 24-82-203 Terms - limitations - moneys

24-82-203. Terms - limitations - moneys. Any easement or right-of-way given or granted under this part 2 shall be upon such terms and limitations and for such consideration as the officials approving such easement or right-of-way may require. All moneys received for any easement or right-of-way under the provisions of this part 2 shall be paid into the state treasury to the credit of the institution, department, or agency which was in possession of said property.

C.R.S. § 24-82-204 Part 2 supplementary

24-82-204. Part 2 supplementary. The provisions of this part 2 are supplementary and in addition to any acts allowing any state institution, department, or agency to give or grant easements or rights-of-way.

C.R.S. § 24-82-301 Contract of purchase authorized

24-82-301. Contract of purchase authorized. At the direction of the governor, the attorney general is authorized to enter into contracts or agreements on behalf of the state of Colorado with the federal government, or any of its duly constituted agencies, to procure and convey to the federal government, or any of its duly constituted agencies, all lands and rights pertaining to the site situate in Boulder county, Colorado, containing five hundred and fifty acres, more or less, selected as the location for the facilities and laboratories of the national center for atmospheric research.

C.R.S. § 24-82-302 Acquisition and conveyance

24-82-302. Acquisition and conveyance. (1) At the direction of the governor, the attorney general is further authorized to acquire fee simple title, or lesser interest therein, to said lands and rights pertaining or appurtenant thereto, or other interests therein, in the name of the state of Colorado, by donation, purchase, or by the exercise of the power of eminent domain through condemnation proceedings in accordance with law. The attorney general is further authorized to receive and apply gifts of money to be used in the acquisition of such lands and to contract for such services as may be required and to institute other types of legal proceedings and take such further action as may be necessary to fully accomplish his or her duties as prescribed in this part 3. (2) Such lands and rights pertaining thereto shall be conveyed to the federal government or its duly constituted agencies on behalf of the state of Colorado by the governor by appropriate deeds without warranty. Such property may be conveyed to the federal government or its duly constituted agencies with or without compensatory payment, and the deeds thereto may contain provisions for reversion of title to said property to the state of Colorado if said property is not used or ceases to be used for or in connection with the purposes and functions of a national center for atmospheric research.

C.R.S. § 24-82-401 State agency for surplus property

24-82-401. State agency for surplus property. There is hereby created, in the division of correctional industries in the department of corrections, a Colorado state agency for surplus property, the powers and duties of which are provided in this part 4.

C.R.S. § 24-82-402 Director - staff

24-82-402. Director - staff. The Colorado state agency for surplus property, referred to in this part 4 as the "state agency", is a section of the division of correctional industries. The state agency consists of a director, who is the executive officer of the state agency, and the deputies, assistants, and employees as in the opinion of the director and the governor are necessary to carry out the provisions of this part 4. The director is the director of the division of correctional industries. All deputies, assistants, and employees are appointed by the director pursuant to section 13 of article XII of the state constitution and receive such compensation and reimbursement of expenses incurred in the performance of their duties as other employees of the state government are paid. All employees of the state agency on July 1, 1987, remain employees of the agency without the need for further appointment due to the transfer of the state agency from the department of personnel. The employees of the state agency must not exceed ten employees. The state agency is a type 2 entity, as defined in section 24-1-105.

C.R.S. § 24-82-403 State agency - powers and duties

24-82-403. State agency - powers and duties. (1) The state agency is hereby authorized: (a) To acquire from the United States under and in conformance with the provisions of section 203 (j) of the "Federal Property and Administrative Services Act of 1949", as amended, such property, including equipment, materials, books, or other supplies under the control of any department or agency of the United States as may be usable and necessary for educational purposes, public health purposes, or civil defense, including research for any such purpose, and for such other purposes as may be authorized by federal law; (b) To warehouse such property; and (c) To distribute such property within the state to tax-supported medical institutions, hospitals, clinics, health centers, school systems, schools, colleges, and universities within the state, and to other nonprofit medical institutions, hospitals, clinics, health centers, schools, colleges, and universities which are exempt from taxation under section 501 (c)(3) of the federal "Internal Revenue Code of 1986", as amended, to civil defense organizations of the state, or political subdivisions and instrumentalities thereof, which are established pursuant to state law, and to such other types of institutions or activities as may become eligible under federal law to acquire such property. (2) The state agency is authorized to receive applications from eligible institutions listed in subsection (1)(c) of this section for the acquisition of federal surplus real property, investigate the same, obtain expression of views respecting such applications from the appropriate health or educational authorities of the state, make recommendations as to the need of such applicant for the property, the merits of its proposed program of utilization, the suitability of the property for such purposes, and otherwise assist in the processing of such applications for acquisition of real and related personal property of the United States under section 203 (k) of the "Federal Property and Administrative Services Act of 1949", as amended. (3) For the purpose of executing its authority under this part 4, the state agency is authorized to adopt, amend, or rescind such rules and regulations and prescribe such requirements as may be deemed necessary and to take such other actions as are deemed necessary and suitable in the administration of this part 4 to assure maximum utilization by and benefit to health, educational, and civil defense institutions and organizations within the state from property distributed under this part 4. (4) The state agency is authorized to make such certification, take such action, make such expenditures, and enter into such contracts, agreements, and undertakings for and in the name of the state (including cooperative agreements with any federal agencies providing for utilization by and exchange between them of the property, facilities, personnel, and services of each by the other with reimbursement), require such reports and make such investigations as may be required by law or regulation of the United States in connection with the disposal of real property and the receipt, warehousing, and distribution of personal property received by the state agency from the United States. nd exchange between them of the property, facilities, personnel, and services of each by the other with reimbursement), require such reports and make such investigations as may be required by law or regulation of the United States in connection with the disposal of real property and the receipt, warehousing, and distribution of personal property received by the state agency from the United States. (5) The state agency is authorized to act as a clearinghouse of information for the public and private nonprofit institutions, organizations, and agencies referred to in subsection (1) of this section and other institutions eligible to acquire federal surplus real property, to locate both real and personal property available for acquisition from the United States, to ascertain the terms and conditions under which such property may be obtained, to receive requests from said institutions, organizations, and agencies, and to transmit to them all available information in reference to such property, and to aid and assist such institutions, organizations, and agencies in every way possible in the consummation of acquisitions or transactions under this part 4. (6) The state agency, in the administration of this part 4, shall cooperate to the fullest extent consistent with the provisions of this part 4 with the department or agencies of the United States and shall file a state plan of operation, operate in accordance therewith, and take such action as may be necessary to meet the minimum standards prescribed in accordance with this part 4, and make such reports in such form and containing such information as the United States or any of its departments or agencies may from time to time require, and it shall comply with the laws of the United States and the rules and regulations of any of the departments or agencies of the United States governing the allocation, transfer, use, or accounting for property donable or donated to the state. (7) The director of the agency shall prepare and transmit annually, in the form and manner prescribed by the heads of the principal departments pursuant to the provisions of section 24-1-136, a report accounting to the governor for the efficient discharge of all responsibilities assigned by law or directive to the agency. Publications of the agency circulated in quantity outside the executive branch shall be issued in accordance with the provisions of section 24-1-136.

C.R.S. § 24-82-404 Delegation of power

24-82-404. Delegation of power. The director may delegate to any employee of the state agency such power as he deems reasonable and proper for the effective administration of this part 4. The director of the state agency shall be bonded in an amount determined proper and sufficient by the governor, and the director may in his discretion, with the approval of the governor, bond any person in the employ of the state agency handling moneys, signing checks, or receiving or distributing property from the United States under authority of this part 4.

C.R.S. § 24-82-405 Transfer charges

24-82-405. Transfer charges. The director is hereby authorized to make charges and to assess fees from the recipient of any surplus property acquired and distributed under this part 4. Any charges made or fees assessed by the state agency for the acquisition, warehousing, distribution, or transfer of any property of the United States for educational, public health, or civil defense purposes, including research for such purposes, and for such other purposes as may be authorized by federal law shall be limited to reasonable administrative costs of the state agency and costs reasonably related to the care and handling in respect to its acquisition, receipt, warehousing, distribution, or transfer by the state agency, and, in the case of real property, such charges and fees shall be limited to the reasonable administrative costs of the state agency incurred in effecting transfer.

C.R.S. § 24-82-406 Authority to secure surplus property - revocation

24-82-406. Authority to secure surplus property - revocation. Any provision of law to the contrary notwithstanding, the governing board or, in case there is none, the executive head of any state department, instrumentality, or agency or of any city, county, school district, or other political subdivision may, by order or resolution, confer upon any officer or employee thereof continuing authority from time to time to secure the transfer to it of surplus property through the state agency under the provisions of section 203 (j) of the "Federal Property and Administrative Services Act of 1949", as amended, and to obligate the state or political subdivision and their funds to the extent necessary to comply with the terms and conditions of such transfers. The authority conferred upon any such officer or employee by any such order or resolution shall remain in effect unless and until the order or resolution is duly revoked and written notice of such revocation has been received by the state agency.

C.R.S. § 24-82-407 Funds transferred

24-82-407. Funds transferred. The state treasurer shall hold the funds of the state agency separate and distinct from state funds for the use and purposes defined in this part 4, and the state treasurer is authorized to make disbursements from such funds for the purposes designated or for administrative costs, upon warrants drawn by the controller upon vouchers signed by the director or deputy director of the state agency.

C.R.S. § 24-82-408 Purchases - how made

24-82-408. Purchases - how made. All purchases of equipment, supplies, and material required for the operation of the state agency shall be made through the executive director of the department of personnel.

C.R.S. § 24-82-409 Revolving fund

24-82-409. Revolving fund. There is hereby created a revolving fund into which all charges and fees made under the provisions of this part 4 shall be paid for the use of the state agency in administering this part 4. The revolving fund shall continue as long as this part 4 is in effect.

C.R.S. § 24-82-410 Liquidation or disposal of surplus equipment, property, and supplies

24-82-410. Liquidation or disposal of surplus equipment, property, and supplies. (Repealed)

C.R.S. § 24-82-501 Short title

24-82-501. Short title. This part 5 shall be known and may be cited as the "Solar Energy Research and Development Act of 1977".

C.R.S. § 24-82-502 Legislative declaration

24-82-502. Legislative declaration. The general assembly hereby finds and declares that the enactment of this part 5 is in the interest of the people of the state of Colorado and of the United States and is for a public purpose; that the selection of a site within the state of Colorado for the construction and operation of a federal facility for the purpose of conducting solar energy research and development and other related forms of energy research is desirable and consistent with scientific, industrial, and commercial development of this state; and that the state should facilitate research which will protect and enhance the preservation of natural resources and the environment of the state, including its land, air, and water and the health and welfare of its citizens. It is the purpose of this part 5 to facilitate the acquisition and use of land or interests in land which may be needed or desirable for a permanent site suitable for a federal facility to conduct solar energy research and development. It is further declared that the development of renewable, fuel resource-conserving, and nonpolluting forms of energy is a matter of statewide concern and affected with the public interest and that the provisions of this part 5 are enacted in the exercise of the police powers of this state for the purpose of protecting the health, peace, safety, and general welfare of the people of this state.

C.R.S. § 24-82-503 Conveyance of state lands authorized - description

24-82-503. Conveyance of state lands authorized - description. (1) Any other provision of law to the contrary notwithstanding, including, but not limited to, section 28-3-106, C.R.S., the adjutant general and the governor, assisted by the attorney general, may enter into an option agreement, exercisable by the federal government at any time within a five-year period, to convey, and may convey within such period, to the federal government, without compensation, approximately three hundred acres of the real property interest of the state of Colorado in section thirty-six, township three south, range seventy west of the sixth principal meridian, located in Jefferson county, or so much thereof as the governor, in consultation with the appropriate federal agency, deems necessary for purposes of a solar energy research institute. The state's interest in this property shall not be conveyed in any other manner or for any other purpose. (2) (a) A conveyance made pursuant to subsection (1) of this section shall be made only when the federal government is prepared to accept the conveyance according to a schedule for site preparation and construction of the facility as it deems appropriate. A conveyance made pursuant to subsection (1) of this section may be made by dividing the three hundred acres to be conveyed into two parcels. The first parcel, parcel A, may be of approximately one hundred forty-five acres, to be used for the main test site and for utility improvements. The title to parcel A shall revert to the state of Colorado after a period of five years from the date of the deed unless within such period the federal government commences construction of improvements to be made on parcel A, at which time the reversionary provision shall become null and void. The second parcel, parcel B, may be of approximately one hundred fifty-five acres, to be used for additional test sites and for office and laboratory facilities. The title to parcel B shall revert to the state of Colorado after a period of five years from the date of the deed unless within such period the federal government causes the reversionary provision concerning parcel A to become null and void. (b) If the reversionary provision concerning parcel A becomes null and void, parcel B shall revert to the state of Colorado twenty years from the date of the deed unless either of the following occur, at which time the reversionary provision shall become null and void: (I) The federal government has indicated that it has approved programs and appropriated funds and is prepared to commence construction of either an office building or laboratory building on either parcel A or parcel B; or (II) The federal government commences construction of permanent improvements on said parcel B. (3) The provisions of this section shall not apply to any interest in such property retained as state school land indemnity interest, but the state board of land commissioners, in a manner consistent with federal law and the constitution of the state, may subordinate such interest to facilitate the conveyance to the federal government pursuant to subsections (1) and (2) of this section. The procedural requirements of article 1 of title 36, C.R.S., regarding leasing or sale of state lands shall not apply to such subordination. Any subordination of the state school land indemnity interest made pursuant to this subsection (3) may contain provisions for a termination of the subordination under the same terms and conditions as reversion of the land conveyed pursuant to subsections (1) and (2) of this section.

C.R.S. § 24-82-504 Siting of institute

24-82-504. Siting of institute. Any other provision of law to the contrary notwithstanding, including, but not limited to, article 23 of title 31, article 28 of title 30, article 65.1 of this title, and part 3 of article 1 of title 34, C.R.S., use of the property described in section 24-82-503 (1) is authorized and approved for purpose of a solar energy research facility by the federal government, but, insofar as feasible, the facility shall conform to the substantive standards of any state or local building, fire, safety, health, and environmental control code or any other requirement which would otherwise be applicable.

C.R.S. § 24-82-601 Definitions

24-82-601. Definitions. As used in this part 6, unless the context otherwise requires: (1) "Description" means a nontechnical explanation of all passive solar design and energy conservation features. (2) "Fifty-five thousand Btu/square foot/year energy performance goal" means the goal for the amount of energy to be consumed or used on-site for the purposes of heating, cooling, lighting, and ventilation, but the term does not include energy losses associated with energy transmission, generation, or distribution. (3) "Renewable energy systems" means passive and active solar systems, wind energy systems, biomass energy source systems, geothermal energy systems, hydroelectric energy systems, cogeneration systems, waste heat recovery systems, and other innovative energy recovery systems which meet the energy performance goal as provided in this part 6. (4) "Unconditioned space" means buildings and structures or portions thereof which are neither heated nor cooled by fuel or electrical energy, including buildings or portions of buildings used primarily for the storage of materials and are uninhabited, except for the handling of those materials, and are not heated to fifty degrees Fahrenheit.

C.R.S. § 24-82-602 Required energy performance goal

24-82-602. Required energy performance goal. (1) All state buildings, and improvements thereto, with design commencing on or after July 1, 1981, shall be designed: (a) To achieve a fifty-five thousand Btu/square foot/year energy performance goal for heating, cooling, lighting, and ventilation energy; (b) To make maximum use of passive solar concepts such as energy conservation, natural lighting, and orientation and incorporation of thermal-mass; (c) To make maximum use of economically feasible renewable energy systems; (d) To achieve the ease of retrofit with renewable energy systems. (2) A description of said system shall be posted or filed at the construction site, and copies thereof shall be made available to any interested party upon request. (3) State buildings which are not office buildings shall be designed for maximum use of passive solar concepts, economically feasible renewable energy systems, and ease of renewable energy system retrofit but may exceed the fifty-five thousand Btu/square foot/year energy performance goal if approved by the department of personnel for each building on a case-by-case basis. Said goal may also be adjusted by the department of personnel to accommodate different climate zones in the state. (4) This section shall not apply to space or buildings which are unconditioned or which are listed in the historical registry.

C.R.S. § 24-82-701 Definitions

24-82-701. Definitions. As used in this part 7, unless the context otherwise requires: (1) "Additional financed purchase of an asset or certificate of participation agreement" means any transaction entered into on or after July 1, 1987, in which the state, acting by and through the department of personnel as provided by this part 7, is the lessee of real or personal property, which shall be used by the state and in which the state has an option to purchase such real or personal property. (2) "Director" means the executive director of the department of personnel. (3) "Existing financed purchase of an asset or certificate of participation agreement" means any financed purchase of an asset or certificate of participation agreement entered into prior to July 1, 1987, in which the state is the lessee of real or personal property which shall be used by the state and in which the state has an option to purchase such real or personal property. (3.3) "Financed purchase of asset" means a financing agreement that includes the purchase of an asset. (3.5) Repealed. (4) "Master financing program" means the refinancing, revising, replacement, or consolidation of any existing or additional financed purchase of an asset or certificate of participation agreement or agreements. (5) "State" means the state of Colorado or any department, agency, or commission thereof, including any state institution of higher education and the board of directors of the Auraria higher education center, but does not include the legislative department when acting pursuant to section 2-2-320 (2)(b), C.R.S.

C.R.S. § 24-82-702 Financed purchase of an asset or certificate of participation agreements

24-82-702. Financed purchase of an asset or certificate of participation agreements. (1) If the director determines that the state will realize economic or other benefits by revising or replacing existing financed purchase of an asset or certificate of participation agreements, or by entering into additional financed purchase of an asset or certificate of participation agreements, or by combining all or any portion of existing or additional financed purchase of an asset or certificate of participation agreements authorized by appropriations made by the general assembly, the director may develop a master financing program and execute such agreements. Any additional financed purchase of an asset or certificate of participation agreement executed by the director pursuant to this part 7 may include personal property that is the subject of an existing financed purchase of an asset or certificate of participation agreement or personal property for which an appropriation has been made by the general assembly for the fiscal year commencing July 1, 1987, and any fiscal year thereafter. An additional financed purchase of an asset or certificate of participation agreement executed by the director pursuant to this part 7 may include real property only if the initial acquisition of such property by means of a financed purchase of an asset or certificate of participation agreement was specifically authorized by a separate bill enacted by the general assembly pursuant to section 24-82-801. For the purposes of this subsection (1), appropriations made by the general assembly do not include continuing appropriations made by permanent statute. (2) Repealed.

C.R.S. § 24-82-703 Seller

24-82-703. Seller. (1) The seller under any additional financed purchase of an asset or certificate of participation agreement entered into by the director pursuant to the provisions of this part 7 shall be any for-profit or nonprofit corporation, trust, or commercial bank as trustee. (2) On and after August 11, 2010: (a) The director is authorized to execute on behalf of the nonprofit corporation abolished by Senate Bill 10-122, enacted in 2010, any documents related to any additional financed purchase of an asset or certificate of participation agreement for which said nonprofit corporation was the seller pursuant to this part 7; (b) The director is authorized to expend moneys of the nonprofit corporation abolished by Senate Bill 10-122, enacted in 2010, as is necessary and appropriate to wind up the affairs of the nonprofit corporation. After receiving written notification from the director that the affairs of the nonprofit corporation have been concluded, the state treasurer shall transfer the remaining balance of any account in the state treasury containing moneys of the nonprofit corporation to the general fund. (c) The state treasurer is authorized to accept on behalf of the nonprofit corporation abolished by Senate Bill 10-122, enacted in 2010, any revenues to which the nonprofit corporation would otherwise be legally entitled. Any revenues so received by the state treasurer shall be credited to the general fund.

C.R.S. § 24-82-704 Payment obligations subject to annual appropriation by the general assembly

24-82-704. Payment obligations subject to annual appropriation by the general assembly. Every additional financed purchase of an asset or certificate of participation agreement authorized by the director pursuant to this part 7 shall provide that all payment obligations of the state under such additional financed purchase of an asset or certificate of participation agreement are subject to annual appropriation by the general assembly and that such obligations shall not be deemed or construed as creating an indebtedness of the state within the meaning of any provision of the Colorado constitution or the laws of the state of Colorado concerning or limiting the creation of indebtedness by the state of Colorado.

C.R.S. § 24-82-705 Terms and conditions of financed purchase of an asset or certificate of participation agreements

24-82-705. Terms and conditions of financed purchase of an asset or certificate of participation agreements. Any additional financed purchase of an asset or certificate of participation agreement entered into by the director pursuant to this part 7 may contain such terms, provisions, and conditions as the director may deem appropriate. Such provisions may allow the state to receive fee title to the real and personal property which is the subject of such additional financed purchase of an asset or certificate of participation agreement on or prior to the expiration of the entire term of the agreement, including all optional renewal terms. Any additional financed purchase of an asset or certificate of participation agreement entered into pursuant to this part 7 may further provide for the issuance, distribution, and sale of instruments evidencing rights to receive rentals and other payments made and to be made under such additional financed purchase of an asset or certificate of participation agreement, but only if and after a court of competent jurisdiction renders a final decision as to the constitutionality of the issuance of certificates of participation or other instruments evidencing the commitment of a district to make payments in subsequent fiscal years of money due under an installment purchase agreement for the purchase of real or personal property which requires payments during more than one fiscal year, or any agreement for the lease or rental of real or personal property which requires payments during more than one fiscal year and under which such district is entitled to receive title to the property at the end of the term for nominal or no additional consideration. Such instruments shall not be notes, bonds, or any other evidence of indebtedness of the state of Colorado within the meaning of any provision of the Colorado constitution or the laws of the state of Colorado concerning or limiting the creation of indebtedness by the state of Colorado. Interest paid under any additional financed purchase of an asset or certificate of participation agreement entered into pursuant to this part 7, including interest represented by such instruments, shall be exempt from Colorado income tax. Any such additional financed purchase of an asset or certificate of participation agreements shall provide an option for the state to purchase the property that is the subject of the agreement prior to the termination of such additional financed purchase of an asset or certificate of participation agreement. In no event shall any individual representing a firm that was the successful bidder for a proposed financial services contract, which contract related to a master financing program, prior to June 20, 1987, be allowed to become the underwriter or financial advisor for any master financed purchase of an asset or certificate of participation agreement entered into by the director prior to June 30, 1988, pursuant to this part 7.

C.R.S. § 24-82-706 Subsequent payments

24-82-706. Subsequent payments. Rentals and other payments made by the state under any additional financed purchase of an asset or certificate of participation agreement entered into pursuant to this part 7 may be made from money appropriated by the general assembly without the necessity of a separate bill.

C.R.S. § 24-82-707 Ancillary agreements

24-82-707. Ancillary agreements. The director may enter into or execute or may negotiate with any officer of the state to enter into or execute any deed, conveyance, escrow agreement, or other agreement or instrument that he deems necessary or appropriate in connection with any additional financed purchase of an asset or certificate of participation agreement entered into pursuant to this part 7.

C.R.S. § 24-82-708 Fiscal rules inapplicable - independent powers

24-82-708. Fiscal rules inapplicable - independent powers. (1) The provisions of section 24-30-202 (5)(b) shall not apply to any additional financed purchase of an asset or certificate of participation agreement or ancillary agreement entered into pursuant to this part 7. Any provision of the fiscal rules promulgated pursuant to section 24-30-202 (1) and (13) that the controller deems to be incompatible or inapplicable with respect to any such financed purchase of an asset or certificate of participation agreement or ancillary agreement may be waived by the controller or his designee. (2) The powers conferred by this part 7 are in addition to any other law, and the limitations imposed by any other law do not affect the powers conferred by this part 7 and do not apply to the financing and refinancing contemplated by this part 7.

C.R.S. § 24-82-709 Participation by institutions of postsecondary education

24-82-709. Participation by institutions of postsecondary education. Institutions of postsecondary education, including the board of directors of the Auraria higher education center, may utilize the provisions of this part 7 so long as the criteria established by this part 7 for inclusion in a master financed purchase of an asset or certificate of participation agreement are satisfied and so long as such institutions act in a manner that is consistent with section 23-1-104.

C.R.S. § 24-82-801 Financed purchase of an asset or certification of participation agreements for acquisition of real or personal property - definition

24-82-801. Financed purchase of an asset or certification of participation agreements for acquisition of real or personal property - definition. (1) (a) (I) Except as provided in subsection (6) of this section, and subject to the requirement set forth in subsection (1)(a)(II) of this section, no financed purchase of an asset or certificate of participation agreement for real property that requires total payments exceeding five hundred thousand dollars over the term of the agreement shall be entered into unless such agreement is specifically authorized, prior to its execution, by a bill enacted by the general assembly, other than the annual general appropriation act or a supplemental appropriation act. (II) (A) Each bill enacted by the general assembly on or after August 8, 2018, as required in subsection (1)(a)(I) of this section, must include a requirement that the state agency or state institution of higher education entering into the financed purchase of an asset or certificate of participation agreement present a plan to the capital development committee, no later than the December of the fourteenth calendar year or the January of the fifteenth calendar year after either the date of the substantial completion of the construction or after the date of acquisition, that details how the state agency or state institution of higher education is prepared to fund the controlled maintenance needs of the real property so that at least an amount equal to an estimation of the sum of one percent of the insured value of the real property for each year starting with the sixteenth year after either the date of the substantial completion of the construction or after the date of acquisition is available for a total period of twenty-five years for the real property's controlled maintenance needs. The plan presented by the state agency or state institution of higher education may include a request for an additional financed purchase of an asset or certificate of participation agreement for such controlled maintenance needs or may include a request for partial or complete state funding of such controlled maintenance needs. The capital development committee shall review the plan presented by the state agency or state institution of higher education. Any approved plan shall be authorized by bill enacted by the general assembly, other than the annual general appropriation act or a supplemental appropriation act; except that, if the approved plan is for a state institution of higher education to fund such controlled maintenance needs from cash funds then the plan may be approved by majority vote of the capital development committee. (B) For purposes of this section, "controlled maintenance" has the same meaning as set forth in section 24-30-1301 (4); except that it may include any maintenance needs that would ordinarily be funded in a state agency's or state institution of higher education's operating budget. Also for purposes of this section, "insured value" means the insured value of the real property as determined through the risk management program established in part 15 of article 30 of this title 24. (b) Except as provided in subsection (6) of this section, no financed purchase of an asset or certificate of participation agreement for personal property that requires total payments exceeding five hundred thousand dollars over the term of the agreement shall be entered into unless such agreement is specifically authorized, prior to its execution, by a bill enacted by the general assembly, other than the annual general appropriation act or a supplemental appropriation act, or specifically authorized by appropriation in the annual general appropriation act or a supplemental appropriation act. hundred thousand dollars over the term of the agreement shall be entered into unless such agreement is specifically authorized, prior to its execution, by a bill enacted by the general assembly, other than the annual general appropriation act or a supplemental appropriation act, or specifically authorized by appropriation in the annual general appropriation act or a supplemental appropriation act. (c) Subsequent to the general assembly's authorization of a financed purchase of an asset or certificate of participation agreement as specified in subsections (1)(a) and (1)(b) of this section, rentals and other payments by the state under any such financed purchase of an asset or certificate of participation agreement may be made from money appropriated by the general assembly as a separate line item in the capital construction or operating section of an annual general appropriation act or a supplemental appropriation act. (2) Except as provided in subsection (6) of this section, financed purchase of an asset or certificate of participation agreements that require total payments of five hundred thousand dollars or less over the term of the agreement shall require an appropriation by the general assembly in an annual general appropriation act or a supplemental appropriation act. (3) A financed purchase of an asset or certificate of participation agreement that requires total payments in excess of five hundred thousand dollars over the term of the agreement shall require, prior to its execution, approval by the state controller as authorized by section 24-30-202. (4) As used in this section: (a) "Certificate of participation agreement" means any certificate evidencing a participation right of a proportionate interest in any financing agreement or the right to receive proportionate payments from the state or an agency due under any financing agreement. (b) "Financed purchase of an asset agreement" means a financing agreement that includes the purchase of an asset. (5) A financed purchase of an asset or certificate of participation agreement may further provide for the issuance, distribution, and sale of instruments evidencing rights to receive rentals and other payments made by the state, but only if the financed purchase of an asset or certificate of participation agreement includes a provision that payments made by the state are subject to annual appropriation. A financed purchase of an asset or certificate of participation agreement shall not include notes, bonds, or any other evidence of indebtedness of the state within the meaning of any provision of the constitution or laws of the state of Colorado concerning or limiting the creation of indebtedness by the state. (6) (a) Notwithstanding any provision of this section to the contrary, the department of transportation, institutions of higher education, the Auraria higher education center established in article 70 of title 23, and the state treasurer may enter into financed purchase of an asset or certificate of participation agreements if the state controller as authorized by section 24-30-202 approves each financed purchase of an asset or certificate of participation agreement that requires total payments in excess of five hundred thousand dollars over the term of the agreement or as otherwise provided by law. tle 23, and the state treasurer may enter into financed purchase of an asset or certificate of participation agreements if the state controller as authorized by section 24-30-202 approves each financed purchase of an asset or certificate of participation agreement that requires total payments in excess of five hundred thousand dollars over the term of the agreement or as otherwise provided by law. (b) Notwithstanding any provision of this section to the contrary, the legislative department may enter into financed purchase of an asset or certificate of participation agreements pursuant to section 2-2-320. (7) Nothing in this section shall be construed to impair any contract or instrument in existence on July 1, 2009, if the contract was validly entered into or the instrument was validly issued under the law in effect at the time of entering into said contract or issuing said instrument. (8) All financed purchase of an asset or certificate of participation agreements described in section 24-48.5-312 (3)(a)(II) shall include the terms specified in said section.

C.R.S. § 24-82-802 Financed purchase of an asset or certificate of participation agreements for real property - definitions - financed purchase of an asset or certificate of participation rental cash fund

24-82-802. Financed purchase of an asset or certificate of participation agreements for real property - definitions - financed purchase of an asset or certificate of participation rental cash fund. (1) As used in this section, unless the context otherwise requires: (a) (I) "Annual financed purchase of an asset or certificate of participation payment" means the total amount due from the state on property subject to a financed purchase of an asset or certificate of participation agreement and includes: (A) The annual base rent scheduled to be paid and the additional rent estimated to be paid on or pursuant to the financed purchase of an asset or certificate of participation agreement and any ancillary agreements that may include, but need not be limited to, any of the following that are paid on a current basis and not paid by a seller or other third party as part of a financed purchase of an asset or certificate of participation agreement: All acquisition costs, such as due diligence costs associated with evaluation of an existing building; land acquisition; penalties for breaking lease agreements; a capital reserve for space planning and capital improvements needed in the building for demolition and construction of tenant space for state agencies or the release to existing tenants; relocation costs; office furniture and equipment; insurance; and the costs associated with any financed purchase of an asset or certificate of participation financing; plus (B) Operating and maintenance costs and a reserve for controlled maintenance costs. (II) For the construction of a new building on land owned or leased by the state, the acquisition costs may also include the architectural and engineering design and engineering costs, site preparation, provisions for utilities and tap fees, and materials and construction costs. (b) "Annual rent costs" means base rent typically found in the leased space line item in the annual general appropriation bill plus all operation, maintenance, and related costs paid to a lessor or other third party. (c) "Department" means the department of personnel, created in section 24-1-128. (d) "Executive director" means the executive director of the department of personnel. (e) "Financed purchase of an asset agreement" and "certificate of participation agreement" shall have the same meanings as provided in section 24-82-801 (4). (2) (a) Subject to the provisions of this section, the state treasurer, on behalf of the state of Colorado for the use of the department, is authorized to enter into one or more financed purchase of an asset or certificate of participation agreements for real and associated personal property existing or to be constructed pursuant to requirements of the state to be exclusively used, possessed, and managed by the department for state agencies and nonstate lessees of the department as the executive director may solely determine according to the plan approved pursuant to subsection (4) of this section and subject to the terms of the financed purchase of an asset or certificate of participation agreement. e constructed pursuant to requirements of the state to be exclusively used, possessed, and managed by the department for state agencies and nonstate lessees of the department as the executive director may solely determine according to the plan approved pursuant to subsection (4) of this section and subject to the terms of the financed purchase of an asset or certificate of participation agreement. (b) Subject to section 2 of article XI of the state constitution, the state treasurer, for the use and benefit of the department, may enter into such financed purchase of an asset or certificate of participation agreements in conjunction with the state board of land commissioners, created pursuant to section 9 of article IX of the state constitution, or with a private person. The state treasurer shall transfer all benefits and responsibilities under the financed purchase of an asset or certificate of participation agreement to the department. The department shall manage the property for the state as the executive director may solely determine, subject to the terms of the financed purchase of an asset or certificate of participation agreement. (3) The state treasurer shall enter into a financed purchase of an asset or certificate of participation agreement authorized pursuant to subsection (2) of this section on behalf of the state for the use and benefit of the department only if, at the time that the financed purchase of an asset or certificate of participation agreement is executed: (a) The state agencies that will be located in the property that is the subject of the financed purchase of an asset or certificate of participation agreement are funded, in whole or in part, by appropriations and a portion of the appropriations are being expended to pay rent to a seller; (b) The projected annual rent costs of the state agencies that will be located in the property plus any current rental payments or rental payments projected to be received from nonstate lessees for each fiscal year during the maximum term of the financed purchase of an asset or certificate of participation agreement exceed the annual financed purchase of an asset or certificate of participation payment for the property, adjusted as appropriate to account for any differences in services provided to, or costs paid for the benefit of, the state under the related leases and financed purchase of an asset or certificate of participation agreements; (c) The property or proposed construction plan for the property has been reviewed by the state architect who shall make written recommendations to the executive director for controlled maintenance needs during the term of the financed purchase of an asset or certificate of participation agreement; (d) The plan for the financed purchase of an asset or certificate of participation transaction has been approved first by the office of state planning and budgeting and the capital development committee of the general assembly pursuant to subsection (4) of this section; (e) The executive director acknowledges his or her approval of the terms of the financed purchase of an asset or certificate of participation agreements and any ancillary agreements; (f) The agreements for the financed purchase of an asset or certificate of participation transaction accurately reflect the plan approved by the office of state planning and budgeting and the capital development committee; and ecutive director acknowledges his or her approval of the terms of the financed purchase of an asset or certificate of participation agreements and any ancillary agreements; (f) The agreements for the financed purchase of an asset or certificate of participation transaction accurately reflect the plan approved by the office of state planning and budgeting and the capital development committee; and (g) The state controller has approved all agreements pursuant to section 24-30-202. (4) Prior to the state treasurer entering into any financed purchase of an asset or certificate of participation agreement pursuant to this section, the executive director shall submit the report required by section 24-82-102 (1) and the plan for the financed purchase of an asset or certificate of participation transaction to the office of state planning and budgeting. If the office of state planning and budgeting approves the report and the plan, it shall submit the report and the plan to the capital development committee of the general assembly. The capital development committee shall approve the plan or refer its recommendations regarding the plan, with written comments, to the executive director and the office of state planning and budgeting. (5) Approval of the plan by the office of state planning and budgeting shall not authorize the department to expend any money on the annual financed purchase of an asset or certificate of participation payment in any fiscal year in an amount greater than the projected annual rent costs of the state agencies plus any rental payments projected to be received from nonstate lessees for such fiscal year, adjusted as appropriate to account for any differences in services provided to, or costs paid for the benefit of, the state under the related leases and financed purchase of an asset or certificate of participation agreements. (6) The state of Colorado, acting by and through the state treasurer, for the use and benefit of the department may, at the state treasurer's sole discretion, enter into one or more financed purchase of an asset or certificate of participation agreements authorized by subsection (2) of this section with any for-profit or nonprofit corporation, trust, or commercial bank as a trustee, as seller. (7) (a) A financed purchase of an asset or certificate of participation agreement authorized in subsection (2) of this section shall provide that all of the obligations of the state under the financed purchase of an asset or certificate of participation agreement shall be subject to the action of the general assembly in annually making money available for all payments thereunder. The financed purchase of an asset or certificate of participation agreement shall also provide that the obligations shall not be deemed or construed as creating an indebtedness of the state within the meaning of any provision of the state constitution or the laws of the state of Colorado concerning or limiting the creation of indebtedness by the state of Colorado and shall not constitute a multiple fiscal-year direct or indirect debt or other financial obligation of the state within the meaning of section 20 (4) of article X of the state constitution. In the event the state of Colorado does not renew a financed purchase of an asset or certificate of participation agreement authorized in subsection (2) of this section, the sole security available to the seller shall be the property encumbered to secure the nonrenewed financed purchase of an asset or certificate of participation agreement or equivalent substitute collateral provided by the state. In the event the state of Colorado does not renew a financed purchase of an asset or certificate of participation agreement authorized in subsection (2) of this section, the sole security available to the seller shall be the property encumbered to secure the nonrenewed financed purchase of an asset or certificate of participation agreement or equivalent substitute collateral provided by the state. (b) A financed purchase of an asset or certificate of participation agreement authorized in subsection (2) of this section may contain such terms, provisions, and conditions as the state treasurer, acting on behalf of the state of Colorado and for the use and benefit of the department, may deem appropriate, including all optional terms; except that a financed purchase of an asset or certificate of participation agreement: (I) Shall not exceed in its term the shorter of the remaining useful life of the building or twenty-five years; and (II) Shall specifically authorize the state of Colorado: (A) To receive title to all real and personal property that is the subject of the financed purchase of an asset or certificate of participation agreement on or prior to the expiration of the terms of the financed purchase of an asset or certificate of participation agreement; and (B) To reduce the term of the agreement through prepayment of rental and other payments subject to the terms of the financed purchase of an asset or certificate of participation agreement and any ancillary agreement. (c) A financed purchase of an asset or certificate of participation agreement authorized in subsection (2) of this section may provide for the issuance, distribution, and sale of instruments evidencing rights to receive rentals and other payments made and to be made under the financed purchase of an asset or certificate of participation agreement. The instruments shall not be notes, bonds, or any other evidence of indebtedness of the state within the meaning of any provision of the state constitution or the law of the state concerning or limiting the creation of indebtedness of the state and shall not constitute a multiple fiscal-year direct or indirect debt or other financial obligation of the state within the meaning of section 20 (4) of article X of the state constitution. (d) Interest paid under a financed purchase of an asset or certificate of participation agreement authorized in subsection (2) of this section, including interest represented by the instruments, shall be exempt from Colorado income tax. (e) The state of Colorado, acting through the state treasurer, for the use and benefit of the department, is authorized, if the executive director concurs, to enter into ancillary agreements and instruments as are deemed necessary or appropriate in connection with a financed purchase of an asset or certificate of participation agreement, including but not limited to ground leases, site leases, easements, or other instruments relating to the real property on which the facilities are located; except that no ancillary agreement is authorized that would cause the annual financed purchase of an asset or certificate of participation payment to exceed the annual rent costs appropriated to the state agencies prior to the financed purchase of an asset or certificate of participation agreement plus any rent projected to be received from nonstate lessees. ty on which the facilities are located; except that no ancillary agreement is authorized that would cause the annual financed purchase of an asset or certificate of participation payment to exceed the annual rent costs appropriated to the state agencies prior to the financed purchase of an asset or certificate of participation agreement plus any rent projected to be received from nonstate lessees. (f) A financed purchase of an asset or certificate of participation agreement authorized in subsection (2) of this section may require the state to provide insurance; except that no insurance is authorized that would cause the annual financed purchase of an asset or certificate of participation payment to exceed the annual rent costs of the state agencies prior to the financed purchase of an asset or certificate of participation agreement plus any rent projected to be received from nonstate lessees, adjusted as described in subsection (3)(b) of this section. The insurance may be provided through the self-insured property fund created pursuant to section 24-30-1510.5. (8) Any provision of the fiscal rules promulgated pursuant to section 24-30-202 (1) and (13) that the state controller deems to be incompatible or inapplicable with respect to said financed purchase of an asset or certificate of participation agreements or any such ancillary agreement may be waived by the controller or his or her designee. (9) If a financed purchase of an asset or certificate of participation agreement authorized pursuant to subsection (2) of this section is executed, during the term of the financed purchase of an asset or certificate of participation agreement, money that at the time of the execution is appropriated to a state agency for rental payments in an amount equal to the annual financed purchase of an asset or certificate of participation payment, less any payments projected to be received from nonstate lessees pursuant to subsection (10) of this section, shall be transferred to the financed purchase of an asset or certificate of participation servicing account of the capital construction fund, created in section 24-75-302 (3.5), and, subject to annual appropriation, shall be used to pay the annual financed purchase of an asset or certificate of participation payments for the property that is the subject of the financed purchase of an asset or certificate of participation agreement or for operating, maintenance, and controlled maintenance costs for the property subject to the financed purchase of an asset or certificate of participation agreement. Money held in the financed purchase of an asset or certificate of participation servicing account shall be for the benefit of the department. (10) (a) If the executive director determines that, in a property subject to a financed purchase of an asset or certificate of participation agreement authorized pursuant to subsection (2) of this section, there is space that is not needed by a state agency, the executive director, separately or in conjunction with the state board of land commissioners or another person, may: (I) Hire a building manager to manage the space; or (II) Subject to the approval of the office of state planning and budgeting, lease the space to any person on commercially reasonable terms. o subsection (2) of this section, there is space that is not needed by a state agency, the executive director, separately or in conjunction with the state board of land commissioners or another person, may: (I) Hire a building manager to manage the space; or (II) Subject to the approval of the office of state planning and budgeting, lease the space to any person on commercially reasonable terms. (b) (I) Any money received by the executive director on behalf of nonstate lessees pursuant to subsection (10)(a) of this section shall be transmitted to the state treasurer, who shall credit the same to the financed purchase of an asset or certificate of participation rental cash fund for the benefit of the department, which fund is hereby created and referred to in this section as the "fund". The money in the fund shall be subject to annual appropriation by the general assembly to the department of personnel and shall only be used for the annual financed purchase of an asset or certificate of participation payments for financed purchase of an asset or certificate of participation agreements authorized pursuant to subsection (2) of this section or for operating, maintenance, and controlled maintenance costs for the buildings subject to the financed purchase of an asset or certificate of participation agreements. (II) Any money in the fund not expended for the purpose of this subsection (10) may be invested by the state treasurer as provided by law. All interest and income derived from the investment and deposit of money in the fund shall be credited to the fund. Any unexpended and unencumbered money remaining in the fund at the end of a fiscal year shall remain in the fund and shall not be credited or transferred to the general fund or another fund.

C.R.S. § 24-82-803 Financed purchase of an asset or certificate of participation agreements for certain capital construction projects - legislative declaration

24-82-803. Financed purchase of an asset or certificate of participation agreements for certain capital construction projects - legislative declaration. (1) (a) The general assembly hereby finds and declares that: (I) Given the unprecedented economic situation in which the state finds itself because of the declared disaster emergency due to the COVID-19 pandemic, it is important for the general assembly to consider any option available to fund the continuations of certain previously funded capital construction projects; (II) Funding the continuations of certain previously funded capital construction projects is particularly important because there are cost escalations due to construction inflation when a project is postponed, there are repair, maintenance, and upkeep costs to minimize damage to the ongoing project or existing infrastructure while funding is delayed, and there may be increased operational costs for any project continuation alternatives; and (III) In addition, funding the continuations of certain previously funded capital construction projects in a time of economic downturn helps boost local economies with construction projects that can commence quickly when money is made available. (b) The general assembly further finds and declares that: (I) The deadline to issue the financed purchase of an asset or certificate of participation agreement in subsection (2)(a) of this section is meant to provide the state treasurer with as much flexibility as possible to ensure that the financed purchase of an asset or certificate of participation agreement is executed on behalf of the state with the most favorable terms that the market will allow. The general assembly agrees with the need for this deadline flexibility and at the same time declares that the financed purchase of an asset or certificate of participation agreement should be executed as soon as possible. (II) If there is any excess money as a result of the issuance, it is the general assembly's intent that the remainder be credited to the emergency controlled maintenance account created in section 24-75-302 (3.2). (2) (a) Notwithstanding the provisions of sections 24-82-102 (1)(b) and 24-82-801, and pursuant to section 24-36-121, no later than June 30, 2021, the state, acting by and through the state treasurer, shall execute a financed purchase of an asset or certificate of participation agreement for the purpose described in subsection (4) of this section in an amount up to sixty-five million five hundred thousand dollars plus reasonable and necessary administrative, monitoring, and closing costs and interest, including capitalized interest and credit enhancement costs such as a debt service reserve fund or bond insurance. (b) The anticipated annual state-funded payments for the principal and interest components of the amount payable under the financed purchase of an asset or certificate of participation agreement entered into pursuant to subsection (2)(a) of this section shall not exceed five million five hundred thousand dollars, with principal amortization not occurring before July 1, 2022. (c) The state, acting by and through the state treasurer, at the state treasurer's sole discretion, may enter into the financed purchase of an asset or certificate of participation agreement authorized by subsection (2)(a) of this section with any for-profit or nonprofit corporation, trust, or commercial bank as a trustee as the seller. th principal amortization not occurring before July 1, 2022. (c) The state, acting by and through the state treasurer, at the state treasurer's sole discretion, may enter into the financed purchase of an asset or certificate of participation agreement authorized by subsection (2)(a) of this section with any for-profit or nonprofit corporation, trust, or commercial bank as a trustee as the seller. (d) The financed purchase of an asset or certificate of participation agreement executed as required by subsection (2)(a) of this section shall provide that all of the obligations of the state under the agreement are subject to the action of the general assembly in annually making money available for all payments thereunder. Payments under any financed purchase of an asset or certificate of participation agreement must be made subject to annual appropriation by the general assembly, as applicable, from the capital construction fund, from the general fund, or from any other legally available source of money. (e) The agreement must also provide that the state's obligation does not create state debt within the meaning of any provision of the state constitution or state law concerning or limiting the creation of state debt and is not a multiple fiscal-year direct or indirect debt or other financial obligation of the state within the meaning of section 20 (4) of article X of the state constitution. If the state does not renew the financed purchase of an asset or certificate of participation agreement executed as required by subsection (2)(a) of this section, the sole security available to the seller is the property that is the subject of the nonrenewed financed purchase of an asset or certificate of participation agreement. (f) (I) The financed purchase of an asset or certificate of participation agreement executed as required by subsection (2)(a) of this section may contain such terms, provisions, and conditions as the state treasurer, acting on behalf of the state, deems appropriate, including all optional terms; except that the financed purchase of an asset or certificate of participation agreement must specifically authorize the state or the governing board of the applicable state institution of higher education to receive fee title to all real and personal property that is the subject of the financed purchase of an asset or certificate of participation agreement on or before the expiration of the terms of the agreement. (II) The state treasurer, acting on behalf of the state, has the authority as he or she deems appropriate to determine what collateral to use for the financed purchase of an asset or certificate of participation agreement. (g) The financed purchase of an asset or certificate of participation agreement executed as required by subsection (2)(a) of this section may provide for the issuance, distribution, and sale of instruments evidencing rights to receive rentals and other payments made and to be made under the financed purchase of an asset or certificate of participation agreement. The instrument may be issued, distributed, or sold only by the seller or any person designated by the seller and not by the state. The instrument does not create a relationship between the purchasers of the instrument and the state or create any obligation on the part of the state to the purchasers. The instrument is not a note, bond, or any other evidence of state debt within the meaning of any provision of the state constitution or state law concerning or limiting the creation of state debt and is not a multiple fiscal-year direct or indirect debt or other financial obligation of the state within the meaning of section 20 (4) of article X of the state constitution. (h) Interest paid under a financed purchase of an asset or certificate of participation agreement authorized pursuant to subsection (2)(a) of this section, including interest represented by the instruments, is exempt from Colorado income tax. fiscal-year direct or indirect debt or other financial obligation of the state within the meaning of section 20 (4) of article X of the state constitution. (h) Interest paid under a financed purchase of an asset or certificate of participation agreement authorized pursuant to subsection (2)(a) of this section, including interest represented by the instruments, is exempt from Colorado income tax. (i) The state, acting by and through the state treasurer and the governing boards of the institutions of higher education, is authorized to enter into ancillary agreements and instruments that are necessary or appropriate in connection with a financed purchase of an asset or certificate of participation agreement, including but not limited to deeds, ground leases, sub-leases, easements, or other instruments relating to the real property on which the facilities are located. (j) The provisions of section 24-30-202 (5)(b) do not apply to a financed purchase of an asset or certificate of participation agreement executed as required by or to any ancillary agreement or instrument entered into pursuant to this subsection (2). The state controller or his or her designee shall waive any provision of the fiscal rules promulgated pursuant to section 24-30-202 (1) and (13) that the state controller finds incompatible or inapplicable with respect to a financed purchase of an asset or certificate of participation agreement or an ancillary agreement or instrument. (3) (a) Before executing the financed purchase of an asset or certificate of participation agreement required by subsection (2)(a) of this section, in order to protect against future interest rate increases, the state, acting by and through the state treasurer and at the discretion of the state treasurer, may enter into an interest rate exchange agreement pursuant to article 59.3 of title 11. A financed purchase of an asset or certificate of participation agreement executed as required by subsection (2)(a) of this section is a proposed public security for the purposes of article 59.3 of title 11. Any payments made by the state under an agreement entered into pursuant to this subsection (3) must be made solely from money made available to the state treasurer from the execution of a financed purchase of an asset or certificate of participation agreement or from money described in subsection (2)(d) of this section. (b) An agreement entered into pursuant to this subsection (3) must also provide that the obligations of the state do not create state debt within the meaning of any provision of the state constitution or state law concerning or limiting the creation of state debt or any multiple fiscal-year direct or indirect debt or other financial obligation of the state within the meaning of section 20 (4) of article X of the state constitution. (c) Any money received by the state under an agreement entered into pursuant to this subsection (3) shall be used to make payments on the financed purchase of an asset or certificate of participation agreement entered into pursuant to subsection (2) of this section or to pay the costs of the projects for which a financed purchase of an asset or certificate of participation agreement was executed. (4) The proceeds of the financed purchase of an asset or certificate of participation agreement executed as required by subsection (2)(a) of this section shall be used to fund certain capital construction needs for state institutions of higher education that are continuations of previously funded projects as specified by the capital development committee. The capital development committee shall post the list of specific projects and the cost of each project, on its official website no later than August 15, 2020. In the event of any excess money as a result of the issuance, the capital development committee shall also specify in their list what any remainder money must be used for.

C.R.S. § 24-82-901 Definitions

24-82-901. Definitions. As used in this part 9, unless the context otherwise requires: (1) "Energy conservation" means reducing energy costs and resources used and includes using a light with lower wattage or a timer switch. (2) "Full cutoff luminaire" means a luminaire that allows no direct light emissions above a horizontal plane through the luminaire's lowest light-emitting part. (3) "Glare" means direct light emitting from a luminaire that causes reduced vision or momentary blindness. (4) "Light pollution" means the night sky glow caused by the scattering of artificial light in the atmosphere. (5) "Light trespass" means light emitted by a luminaire that shines beyond the boundaries of the property on which the luminaire is located. (6) "Luminaire" means the complete lighting system, including the lamp and the fixture. (7) (a) "Outdoor lighting fixture" means any type of fixed or movable lighting equipment that is designed or used for illumination outdoors and includes: (I) Area lighting; and (II) Billboard lighting, street lights, searchlights, and other lighting used for advertising purposes. (b) "Outdoor lighting fixture" does not include lighting equipment that is required by law to be installed on motor vehicles or lighting required for the safe operation of aircraft or watercraft. (8) "Special event or situation" includes, but is not limited to, sporting events and the illumination of monuments, historic structures, or flags.

C.R.S. § 24-82-902 Outdoor lighting fixtures funded by the state - standards

24-82-902. Outdoor lighting fixtures funded by the state - standards. (1) On or after July 1, 2002, any new outdoor lighting fixture installed by or on behalf of the state using state funds shall meet at least the following requirements: (a) For outdoor lighting fixtures with a rated output greater than three thousand two hundred lumens, the fixture is a full cutoff luminaire; (b) The minimum illuminance adequate for the intended purpose is used with consideration given to recognized standards, including, but not limited to, recommended practices adopted by the illuminating engineering society of North America (IESNA); (c) Full consideration has been given to costs, energy conservation, glare reduction, the minimization of light pollution, and the preservation of the natural night environment; and (d) For purposes of lighting a designated highway in the state highway system, the department of transportation determines that the purpose of the outdoor lighting fixture cannot be achieved by the installation of reflective road markers, lines, warning or informational signs, or other effective methods that do not require the use of artificial light. (2) The provisions of subsection (1) of this section shall not apply if: (a) A federal law or regulation preempts state law; (b) The outdoor lighting fixture is used on a temporary basis to provide illumination for emergency personnel in an emergency situation; (c) The outdoor lighting fixture is used on a temporary basis for nighttime work; (d) Additional illumination is required for a special event or situation; except that any additional illumination required for a special event or situation shall be installed so as to shield the outdoor lighting fixtures from direct view and to minimize upward lighting and light pollution; (e) The outdoor lighting fixture is used solely to enhance the aesthetic beauty of an object; or (f) A compelling safety interest exists that cannot be addressed by another method. (3) The provisions of subsection (1) of this section shall serve only as guidelines for and shall not be binding on any state prison facility or any private contract prison in the state.

C.R.S. § 24-82-1001 Legislative declaration - exclusion of proceeds of leveraged leasing agreements from fiscal year spending - voter approval not required

24-82-1001. Legislative declaration - exclusion of proceeds of leveraged leasing agreements from fiscal year spending - voter approval not required. (1) The general assembly hereby finds and declares that: (a) Section 20 of article X of the state constitution limits state fiscal year spending. (b) Section 20 (2)(e) of article X defines "fiscal year spending" to include all revenues and expenditures except those for refunds and those from certain sources, such as property sales. (c) Monetary consideration paid to the state by a private person in connection with a leveraged leasing agreement constitutes revenues to the state from a property sale because the consideration is paid in exchange for a property interest in a qualified state asset and constitutes revenues from a property sale, and such revenues are therefore excluded from state fiscal year spending. (2) The general assembly further finds and declares that: (a) Section 20 of article X of the state constitution requires voter approval in advance for creation of any multiple-fiscal year financial obligation whatsoever without adequate present cash reserves pledged irrevocably and held for payments in all future fiscal years. (b) The sublease of a qualified state capital asset from a private person to the state under a leveraged leasing agreement is a multiple-fiscal year financial obligation of the state under section 20 of article X of the state constitution, but the state may enter into a leveraged leasing agreement without voter approval in advance because a leveraged leasing agreement requires the state to deposit into a specified account adequate cash reserves pledged irrevocably for sublease payments in all future fiscal years.

C.R.S. § 24-82-1002 Definitions

24-82-1002. Definitions. As used in this part 10, unless the context otherwise requires: (1) "Leveraged leasing agreement" means an agreement or a series of agreements between the state and a private person under which: (a) In exchange for monetary consideration paid in a lump sum when the lease closes, the state leases a qualified state capital asset to a private person for a term of sufficient length to allow the private person to depreciate the asset for federal income tax purposes under the federal "Internal Revenue Code of 1986", as amended, or any successor provision thereto, and retains a right to cancel the lease in exchange for specified consideration; (b) The private person subleases the qualified state capital asset back to the state pursuant to a sublease contract that: (I) Is for a term shorter than the term of the lease; (II) Gives the private person leasehold rights in the asset; and (III) Requires an amount of the monetary consideration paid in a lump sum to the state when the lease closes that is adequate to meet all lease payments to be made by the state under the terms of the sublease contract to be deposited into a specified account established pursuant to the sublease contract as adequate cash reserves pledged irrevocably for sublease payments in all future fiscal years; and (c) The state retains the right to the use of the qualified state capital asset for the duration of the term of the sublease. (2) "Qualified state capital asset" or "asset" means qualified technological equipment as defined by section 168 (i)(2)(A) of the federal "Internal Revenue Code of 1986", as amended, or any successor provision thereto.

C.R.S. § 24-82-1003 Leveraged leasing

24-82-1003. Leveraged leasing. (1) On and after May 14, 2003, the executive director of the department of personnel, with the approval of the director of the office of state planning and budgeting, may enter into leveraged leasing agreements on behalf of the state. (2) The executive director of the department of personnel may retain attorneys, consultants, or financial professionals to the extent necessary to protect the interests of the state and to ensure the proper execution of a leveraged leasing agreement. The executive director shall use a competitive selection process approved by the director of the office of state planning and budgeting to select any attorneys, consultants, or financial professionals to be retained, but execution of such retention agreements shall not be governed by the "Procurement Code", articles 101 to 112 of this title. Any fees charged by any persons retained shall be paid only from the lump sum paid to the state in connection with the leveraged leasing agreement and shall not be paid from any other source. (3) The state treasurer shall credit all monetary consideration paid in a lump sum to the state under the terms of a leveraged leasing agreement when the agreement closes that is not required to be deposited into a specified account established pursuant to a sublease contract as adequate cash reserves pledged irrevocably for sublease payments in all future fiscal years to the controlled maintenance trust fund created in section 24-75-302.5.

C.R.S. § 24-82-1004 Leased assets not subject to taxation

24-82-1004. Leased assets not subject to taxation. A qualified state capital asset that is the subject of a leveraged leasing agreement shall be treated for tax purposes as tax-exempt property owned by the state.

C.R.S. § 24-82-1005 Liability not created by leveraged leasing agreement - indemnification agreements

24-82-1005. Liability not created by leveraged leasing agreement - indemnification agreements. (1) The lease of a qualified state capital asset by the state to a private person and the sublease of the asset back to the state by the private person pursuant to a leveraged leasing agreement shall not cause the private person to whom the qualified state capital asset is being leased to incur any liability in any type of action by virtue of the private person's status as a lessor under the leveraged leasing agreement. (2) As part of a leveraged leasing agreement, the executive director of the department of personnel, with the approval of the director of the office of state planning and budgeting, may enter into an indemnity agreement with the private person to whom the qualified state capital asset is being leased.

C.R.S. § 24-82-1201 Definitions

24-82-1201. Definitions. As used in this part 12, unless the context otherwise requires: (1) "Approved building project" means a capital construction project involving a lease that receives approval from the capital development committee and the joint budget committee pursuant to section 24-82-1202 (2). (2) "Commission" means the Colorado commission on higher education established pursuant to section 23-1-102, C.R.S. (3) "State department" means a department or agency of the state, but does not include the legislative department when acting pursuant to section 2-2-320 (2)(b), C.R.S.

C.R.S. § 24-82-1202 Leases of buildings

24-82-1202. Leases of buildings. (1) Subject to the provisions of this part 12, the executive director of a state department, or the governing board of an institution of higher education, is authorized to execute a lease agreement for up to thirty years for the rental of an approved building project. (2) (a) Prior to executing a lease agreement authorized pursuant to this part 12, the executive director of the leasing state department shall submit a report to the office of state planning and budgeting on the proposed approved building project, including the proposed terms of the lease agreement, through the budgeting process established pursuant to section 24-37-304. If the office of state planning and budgeting approves the proposed approved building project and the lease, it shall make recommendations concerning the proposed approved building project and the lease to the capital development committee. If the capital development committee approves the proposed approved building project and the lease for the proposed approved building project, it shall make recommendations concerning the proposed approved building project and the lease to the joint budget committee. Following receipt of the recommendations, if the joint budget committee approves the proposed approved building project and the lease, it shall include any necessary moneys for the approved building project in its recommendations for the next long appropriations bill. (b) Prior to executing a lease agreement authorized pursuant to this part 12, the governing board of a leasing institution of higher education shall submit a report to the Colorado commission on higher education on the proposed approved building project, including the proposed terms of the lease agreement, pursuant to the provisions of section 23-1-106, C.R.S. If the proposed approved building project does not require the approval of the capital development committee pursuant to section 23-1-106, C.R.S., the commission may approve the proposed approved building project and the lease. If the proposed approved building project is subject to the approval of the capital development committee pursuant to section 23-1-106, C.R.S., and if the commission approves the proposed approved building project and the lease, the commission shall make recommendations concerning the proposed approved building project and the lease to the capital development committee. If the capital development committee approves the proposed approved building project and the lease for the proposed approved building project, it shall make recommendations concerning the proposed approved building project and the lease to the joint budget committee. Following receipt of the recommendations, if the joint budget committee approves the proposed approved building project and the lease, it shall include any necessary moneys for the approved building project in its recommendations for the next general appropriation bill.

C.R.S. § 24-82-1203 Payment obligations subject to annual appropriation by the general assembly

24-82-1203. Payment obligations subject to annual appropriation by the general assembly. Each lease agreement entered into pursuant to the provisions of this part 12 shall provide that all payment obligations of the state under the lease agreement are subject to annual appropriation by the general assembly and that the obligations shall not be deemed or construed as creating an indebtedness of the state within the meaning of any provision of the Colorado constitution or the laws of the state of Colorado concerning or limiting the creation of indebtedness by the state of Colorado.

C.R.S. § 24-82-1204 Terms and conditions of lease agreements

24-82-1204. Terms and conditions of lease agreements. (1) A lease agreement, financed purchase of an asset agreement, or certificate of participation agreement entered into pursuant to this part 12 may contain such terms, provisions, and conditions as the executive director of the leasing state department or the governing board of the leasing institution may deem appropriate. Any lease agreement entered into pursuant to this part 12 shall comply with the requirements of section 24-82-801. (2) As used in this section: (a) "Certificate of participation" means any certificate evidencing a participation right of a proportionate interest in any financing agreement or the right to receive proportionate payments from the state or an agency due under any financing agreement. (b) "Financed purchase of an asset" means a financing agreement that includes the purchase of an asset.

C.R.S. § 24-82-1205 Ancillary agreements

24-82-1205. Ancillary agreements. The executive director of a leasing state department or the governing board of the leasing institution may enter into or execute, or may negotiate with an officer of the state to enter into or execute, a deed, conveyance, escrow agreement, or other agreement or instrument that he or she or the board deems necessary or appropriate in connection with a lease agreement entered into pursuant to this part 12.

C.R.S. § 24-82-1206 Fiscal rules inapplicable - independent powers

24-82-1206. Fiscal rules inapplicable - independent powers. (1) The provisions of section 24-30-202 (5)(b) shall not apply to a lease agreement or ancillary agreement entered into pursuant to this part 12. Any provision of the fiscal rules promulgated pursuant to section 24-30-202 (1) or (13) which the controller deems to be incompatible with or inapplicable to a lease agreement entered into pursuant to this part 12 or ancillary agreement may be waived by the controller or his or her designee. (2) The powers conferred by this part 12 are in addition to any other law, and the limitations imposed by any other law shall not affect the powers conferred by this part 12.

C.R.S. § 24-82-1207 Inapplicability of part 7

24-82-1207. Inapplicability of part 7. The provisions of part 7 of this article shall not apply to leases entered into pursuant to this part 12.

C.R.S. § 24-82-1301 Legislative declaration

24-82-1301. Legislative declaration. (1) The general assembly hereby finds and declares that: (a) Due to insufficient funding, necessary high-priority state highway projects and state capital construction projects, including projects at state institutions of higher education, in all areas of the state have been delayed, and the state has also delayed critical controlled maintenance and upkeep of state capital assets; (b) By issuing financed purchase of an asset or certificate of participation agreements using state buildings as collateral as authorized by this part 13, the state can generate sufficient funds to accelerate the completion of many of the necessary high-priority state highway projects and capital construction projects that have been delayed and better maintain and preserve existing state capital assets; (c) It is the intent of the general assembly that a majority of the additional funding for state capital construction projects realized from issuing financed purchase of an asset or certificate of participation agreements be used for controlled maintenance and upkeep of state capital assets.

C.R.S. § 24-82-1302 Definitions

24-82-1302. Definitions. As used in this part 13, unless the context otherwise requires: (1) "Capital construction" has the same meaning as set forth in section 24-30-1301 (2). (2) "Controlled maintenance" has the same meaning as set forth in section 24-30-1301 (4). (3) "Eligible state facility" means any financially unencumbered state-owned asset, including, without limitation, any building, structure, facility, or land determined to be eligible by a governing board of a state institution of higher education, but does not include any asset, building, structure, facility, or land that is part of the state emergency reserve for any state fiscal year as designated in the annual general appropriation act. (4) "State institution of higher education" means a state institution of higher education, as defined in section 23-18-102 (10), and the Auraria higher education center created in article 70 of title 23.

C.R.S. § 24-82-1303 Financed purchase of an asset or certificate of participation agreements for capital construction and transportation projects

24-82-1303. Financed purchase of an asset or certificate of participation agreements for capital construction and transportation projects. (1) Repealed. (2) (a) Notwithstanding the provisions of sections 24-82-102 (1)(b) and 24-82-801, and pursuant to section 24-36-121, no sooner than July 1, 2018, the state, acting by and through the state treasurer, shall execute financed purchase of an asset or certificate of participation agreements, each for no more than twenty years of annual payments, for the projects described in subsection (4) of this section. The state shall execute the financed purchase of an asset or certificate of participation agreements as soon as possible after July 1 of the applicable state fiscal year only in accordance with the following schedule: (I) During the 2018-19 state fiscal year, the state shall execute financed purchase of an asset or certificate of participation agreements in an amount up tofive hundred million dollars; (II) During the 2019-20 state fiscal year, the state shall execute financed purchase of an asset or certificate of participation agreements in an amount up to five hundred million dollars; (III) During the 2020-21 state fiscal year, the state shall execute financed purchase of an asset or certificate of participation agreements in an amount up to five hundred million dollars; and (IV) During the 2021-22 fiscal year, the state shall execute financed purchase of an asset or certificate of participation agreements in an amount up to five hundred million dollars. (b) The anticipated annual state-funded payments for the principal and interest components of the amount payable under all financed purchase of an asset or certificate of participation agreements entered into pursuant to subsection (2)(a) of this section shall not exceed one hundred fifty million dollars. (c) The state, acting by and through the state treasurer, at the state treasurer's sole discretion, may enter into one or more financed purchase of an asset or certificate of participation agreements authorized by subsection (2)(a) of this section with any for-profit or nonprofit corporation, trust, or commercial bank as a trustee as the seller. (d) Any financed purchase of an asset or certificate of participation agreement executed as required by subsection (2)(a) of this section shall provide that all of the obligations of the state under the agreement are subject to the action of the general assembly in annually making money available for all payments thereunder. Payments under any financed purchase of an asset or certificate of participation agreement must be made, subject to annual allocation pursuant to section 43-1-113 by the transportation commission created in section 43-1-106 (1) or subject to annual appropriation by the general assembly, as applicable, from the following sources of money: (I) First, nine million dollars annually, or any lesser amount that is sufficient to make each full payment due, shall be paid from the general fund or any other legally available source of money for the purpose of fully funding the controlled maintenance and capital construction projects in the state to be funded with the proceeds of financed purchase of an asset or certificate of participation agreements as specified in subsection (4)(a) of this section; nt that is sufficient to make each full payment due, shall be paid from the general fund or any other legally available source of money for the purpose of fully funding the controlled maintenance and capital construction projects in the state to be funded with the proceeds of financed purchase of an asset or certificate of participation agreements as specified in subsection (4)(a) of this section; (II) Next, fifty million dollars annually, or any lesser amount that is sufficient to make each full payment due, shall be paid from any legally available money under the control of the transportation commission solely for the purpose of allowing the construction, supervision, and maintenance of state highways to be funded with the proceeds of financed purchase of an asset or certificate of participation agreements as specified in subsection (4)(b) of this section and section 43-4-206 (1)(b)(V); except that, for payments due during state fiscal years 2020-21 and 2021-22, sixty-two million dollars annually, or any lesser amount that is sufficient to make each full payment due shall be paid from such legally available money for said purpose; and (III) The remainder of the amount needed, in addition to the amounts specified in subsections (2)(d)(I) and (2)(d)(II) of this section, to make each full payment due shall be paid from the general fund or any other legally available source of money. (e) Each agreement must also provide that the obligations of the state do not create state debt within the meaning of any provision of the state constitution or state law concerning or limiting the creation of state debt and are not a multiple fiscal-year direct or indirect debt or other financial obligation of the state within the meaning of section 20 (4) of article X of the state constitution. If the state does not renew a financed purchase of an asset or certificate of participation agreement executed as required by subsection (2)(a) of this section, the sole security available to the seller is the property that is the subject of the nonrenewed financed purchase of an asset or certificate of participation agreement. (f) A financed purchase of an asset or certificate of participation agreement executed as required by subsection (2)(a) of this section may contain such terms, provisions, and conditions as the state treasurer, acting on behalf of the state, deems appropriate, including all optional terms; except that each financed purchase of an asset or certificate of participation agreement must specifically authorize the state or the governing board of the applicable state institution of higher education to receive fee title to all real and personal property that is the subject of the financed purchase of an asset or certificate of participation agreement on or before the expiration of the terms of the agreement. (g) Any financed purchase of an asset or certificate of participation agreement executed as required by subsection (2)(a) of this section may provide for the issuance, distribution, and sale of instruments evidencing rights to receive rentals and other payments made and to be made under the financed purchase of an asset or certificate of participation agreement. The instruments may be issued, distributed, or sold only by the seller or any person designated by the seller and not by the state. The instruments do not create a relationship between the purchasers of the instruments and the state or create any obligation on the part of the state to the purchasers. The instruments are not notes, bonds, or any other evidence of state debt within the meaning of any provision of the state constitution or state law concerning or limiting the creation of state debt and are not a multiple fiscal-year direct or indirect debt or other financial obligation of the state within the meaning of section 20 (4) of article X of the state constitution. ate to the purchasers. The instruments are not notes, bonds, or any other evidence of state debt within the meaning of any provision of the state constitution or state law concerning or limiting the creation of state debt and are not a multiple fiscal-year direct or indirect debt or other financial obligation of the state within the meaning of section 20 (4) of article X of the state constitution. (h) Interest paid under a financed purchase of an asset or certificate of participation agreement authorized pursuant to subsection (2)(a) of this section, including interest represented by the instruments, is exempt from Colorado income tax. (i) The state, acting by and through the state treasurer and the governing boards of the institutions of higher education, is authorized to enter into ancillary agreements and instruments that are necessary or appropriate in connection with a financed purchase of an asset or certificate of participation agreement, including but not limited to deeds, ground leases, sub-leases, easements, or other instruments relating to the real property on which the facilities are located. (j) The provisions of section 24-30-202 (5)(b) do not apply to a financed purchase of an asset or certificate of participation agreement executed as required by or to any ancillary agreement or instrument entered into pursuant to this subsection (2). The state controller or his or her designee shall waive any provision of the fiscal rules promulgated pursuant to section 24-30-202 (1) and (13) that the state controller finds incompatible or inapplicable with respect to a financed purchase of an asset or certificate of participation agreement or an ancillary agreement or instrument. (3) (a) Before executing a financed purchase of an asset or certificate of participation agreement required by subsection (2)(a) of this section, in order to protect against future interest rate increases, the state, acting by and through the state treasurer and at the discretion of the state treasurer, may enter into an interest rate exchange agreement pursuant to article 59.3 of title 11. A financed purchase of an asset or certificate of participation agreement executed as required by subsection (2)(a) of this section is a proposed public security for the purposes of article 59.3 of title 11. Any payments made by the state under an agreement entered into pursuant to this subsection (3) must be made solely from money made available to the state treasurer from the execution of a financed purchase of an asset or certificate of participation agreement or from money described in subsections (2)(d)(I) and (2)(d)(II) of this section. (b) Any agreement entered into pursuant to this subsection (3) must also provide that the obligations of the state do not create state debt within the meaning of any provision of the state constitution or state law concerning or limiting the creation of state debt and are not a multiple fiscal-year direct or indirect debt or other financial obligation of the state within the meaning of section 20 (4) of article X of the state constitution. (c) Any money received by the state under an agreement entered into pursuant to this subsection (3) shall be used to make payments on financed purchase of an asset or certificate of participation agreements entered into pursuant to subsection (2) of this section or to pay the costs of the project for which a financed purchase of an asset or certificate of participation agreement was executed. (4) Proceeds of financed purchase of an asset or certificate of participation agreements executed as required by subsection (2)(a) of this section shall be used as follows: rtificate of participation agreements entered into pursuant to subsection (2) of this section or to pay the costs of the project for which a financed purchase of an asset or certificate of participation agreement was executed. (4) Proceeds of financed purchase of an asset or certificate of participation agreements executed as required by subsection (2)(a) of this section shall be used as follows: (a) (I) The first one hundred twenty million dollars of the proceeds of financed purchase of an asset or certificate of participation agreements issued during the 2018-19 state fiscal year shall be used for controlled maintenance and capital construction projects in the state as follows: (A) Thirteen million six thousand eighty-one dollars for level I controlled maintenance; (B) Sixty million six hundred thirty-seven thousand three hundred five dollars for level II controlled maintenance; (C) Forty million two hundred nine thousand five hundred thirty-five dollars for level III controlled maintenance; and (D) The remainder for capital construction projects as prioritized by the capital development committee. (II) The capital development committee shall post the list of specific controlled maintenance projects and the cost of each project funded pursuant to subsection (4)(a)(I)(A), (4)(a)(I)(B), or (4)(a)(I)(C) of this section on its official website no later than May 11, 2017. (III) When the actual cost of a controlled maintenance project funded from the proceeds of the financed purchase of an asset or certificate of participation agreements executed as required by subsection (2)(a) of this section, as specifically set forth in subsections (4)(a)(I)(A) through (4)(a)(I)(C) of this section, is less than the amount specifically earmarked for such project, the executive director may utilize the savings to cover any additional cost of any other controlled maintenance project funded from the proceeds of the financed purchase of an asset or certificate of participation agreements executed as required by subsection (2)(a) of this section, as specifically set forth in subsections (4)(a)(I)(A) through (4)(a)(I)(C) of this section; except that the executive director's authority to use savings for other controlled maintenance projects may not in any way exceed the total allocation of one hundred thirteen million eight hundred fifty-two thousand nine hundred twenty-one dollars. (a.5) Of the proceeds of financed purchase of an asset or certificate of participation agreements executed as required by subsection (2)(a)(II) of this section, the lesser of all proceeds in excess of five hundred million dollars or forty-nine million dollars of such excess proceeds shall be credited to the capital construction fund created in section 24-75-302 (1)(a) and appropriated only for controlled maintenance projects, including controlled maintenance projects that are capital renewal projects, in the state. (b) The remainder of the proceeds shall be credited to the state highway fund created in section 43-1-219 and used by the department of transportation in accordance with section 43-4-206 (1)(b)(V).

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://leg.colorado.gov/sites/default/files/images/olls/crs2024-title-24.docxFetched: 10/6/2026