Source: http://www.leg.state.co.us/preclics/1997/hbills97/HB1313.htm
Timestamp: 2017-10-19 18:20:30
Document Index: 644732467

Matched Legal Cases: ['ARTS 1', 'ART 6', 'ART 6', 'ART 6', 'ART 6', 'ART 6', 'art 11']

LLS NO. 97­0018.01D JY HOUSE BILL 97­1313
CONCERNING THE PROVISION OF HIGHWAY CONSTRUCTION PROJECTS WITHIN THE STATE.
Creates the "Colorado Highway Authority Law". Specifies that various forms of local governments may create an authority. Allows an authority to include the state or one or more special districts. Directs the director of the division of local government in the department of local affairs to issue a certificate upon the filing of a contract establishing an authority. Specifies the required provisions of such a contract. Prohibits a municipality, county, or special district from entering into a contract creating an authority unless a hearing is held. Allows the state to join in such a contract upon approval by the governor.
Requires a board of directors to exercise all powers, privileges, and duties vested in or imposed upon an authority. Specifies the powers and duties of the board. Requires board members to comply with the standards of conduct imposed on local governmental officials. Specifies the requirements of board meetings.
Specifies that an authority has the power to:
! Establish, collect, and increase or decrease fees, tolls, rates, and charges for the privilege of traveling on or using any property included in a highway constructed by the authority;
! Pledge all or a portion of such revenues to the payment of bonds or other indebtedness;
! Construct highways within or without the boundaries of the authority;
! Acquire, lease, dispose of, and encumber real or personal property;
! Condemn property through the exercise of eminent domain powers;
! Accept real or personal property for the use of the authority;
! Enter into agreements for public­private initiatives;
! Establish, collect, and increase or decrease highway expansion fees;
! Impose an annual motor vehicle registration fee not to exceed $10 per vehicle;
! Levy a sales or use tax or both at a rate not to exceed 4/10 of one percent; and
! Establish and increase or decrease a tax on the privilege of employment or of conducting any trade, business, occupation, or profession at a rate not to exceed $2 per month.
Specifies the manner in which an authority may include property within or exclude property from the boundaries of the authority. Subjects property included in an authority to the same mill levies and other taxes levied on other similarly situated property. Allows the board to determine the location of any highway construction project upon a 2/3 vote.
Allows an authority to enter into agreements for public­private initiatives for the purpose of performing a highway construction project.
Requires that the revenues received from any fees, fares, or tolls for the use of a highway constructed by an authority, in addition to other revenues, be sufficient to pay for any bonds issued or any other indebtedness. If the amounts generated from such fees, fares, or tolls exceed the amount required for the payment of bonds or other indebtedness, allows such revenues to be used for the operation or maintenance of the highway.
Clarifies that state and local traffic laws regarding toll collection and enforcement pertain to and govern the use of any highway constructed by an authority on which vehicles subject to such laws are operated. Specifies the penalty for violations of such laws.
Allows an authority to establish local improvement districts or value capture areas within the boundaries of the authority to facilitate the performance of highway construction projects. Specifies the method of establishing a local improvement district or a value capture area. Specifies the items to be included in a value capture plan, including the method in which property taxes are to be distributed.
Specifies the methods of issuance and payment of bonds by the authority. Designates the areas in which an authority has cooperative powers. Grants certain powers to the state or any political subdivision thereof for purposes of aiding and cooperating in the performance of a highway construction project.
Requires voter approval for any action by an authority to establish or increase any tax or to create a multiple fiscal year obligation under section 20 of article X of the state constitution. Specifies the notice requirements for any proposal by an authority to establish, increase, or decrease any tax or fee or to create a local improvement district or value capture area.
Specifies that the state shall not limit or alter the rights of obligees with which the authority contracts. Specifies the manner in which the authority may invest or deposit its funds. Allows fiduciaries to invest any revenues within their control in any bond issued by the authority. Exempts the income, revenues, and bonds issued by the authority from all state taxation and assessments. Exempts such bonds from the state security laws.
Prohibits any action at law or equity for any act performed under this act unless commenced within a certain time. With the exception of tolls, requires the termination of all revenue­raising powers granted to an authority when all bonds and obligations are paid in full. Allows the board of an authority to file a petition in district court for a judicial examination and determination of certain issues.
Authorizes a local governmental entity to submit an offer to finance a particular highway construction project along with its recommended priority for the project. Allows the department of transportation to prioritize and accelerate projects based on local participation. Allows the department of transportation to advance funds to local governmental entities for highway construction projects. Creates the local highway construction revolving fund into which the local contributions and repayments and any state contributions are deposited.
SECTION 1. Title 29, Colorado Revised Statutes, 1986 Repl. Vol., as amended, is amended BY THE ADDITION OF A NEW ARTICLE to read:
Colorado Highway Authority Law
29­25­101. Short title. THIS ARTICLE SHALL BE KNOWN AND MAY BE CITED AS THE "COLORADO HIGHWAY AUTHORITY LAW".
29­25­102. Legislative declaration. (1) THE GENERAL ASSEMBLY HEREBY FINDS, DETERMINES, AND DECLARES THAT:
(a) THE NECESSITY FOR THIS ARTICLE RESULTS FROM THE FOLLOWING:
(I) THE POPULATION GROWTH AND INCREASED ECONOMIC ACTIVITY WITHIN THE METROPOLITAN AND RURAL REGIONS OF THE STATE;
(II) THE SIGNIFICANT AND GROWING DEMAND FOR CONSTRUCTION OF HIGHWAYS WITHIN THE STATE TO FACILITATE THE MOVEMENT OF PEOPLE AND GOODS AND THE INADEQUACY OF CURRENT TRANSPORTATION FACILITIES TO MEET THAT DEMAND;
(III) THE DIVISION OF THE STATE INTO A VARIETY OF INCORPORATED AND UNINCORPORATED AREAS;
(IV) THE NEED TO COORDINATE PLANNING AND PERFORMANCE OF HIGHWAY CONSTRUCTION PROJECTS TO SERVE REGIONAL NEEDS; AND
(V) THE LIMITED AVAILABILITY OF GOVERNMENT FUNDS FOR HIGHWAY CONSTRUCTION PROJECTS WITHIN THE STATE;
(b) THE CREATION OF HIGHWAY AUTHORITIES IMPLEMENTS SECTION 18 (2) OF ARTICLE XIV OF THE STATE CONSTITUTION AND IS ESSENTIAL TO THE CONTINUED ECONOMIC GROWTH OF THE STATE, IS IN THE PUBLIC INTEREST, AND WILL PROMOTE THE HEALTH, SAFETY, AND WELFARE OF THE CITIZENS OF THIS STATE BY SECURING A MORE ADEQUATE TRANSPORTATION SYSTEM;
(c) IT IS THE INTENT OF THE GENERAL ASSEMBLY THAT HIGHWAY AUTHORITIES BE FORMED TO CONSTRUCT ALL OR A PORTION OF ANY HIGHWAY WITHIN THE STATE WHICH, BECAUSE OF THE COST OR THE LOCATION THEREOF IN THE JURISDICTION OF MORE THAN ONE MUNICIPALITY, COUNTY, OR SPECIAL DISTRICT CANNOT FEASIBLY BE CONSTRUCTED BY THE STATE OR BY A MUNICIPALITY, COUNTY, OR SPECIAL DISTRICT ACTING ALONE. IT IS NOT THE INTENT OF THE GENERAL ASSEMBLY THAT HIGHWAY AUTHORITIES BE FORMED TO ASSUME, DIRECTLY OR INDIRECTLY, THE TRADITIONAL ROLE OF COUNTIES OR MUNICIPALITIES TO CONSTRUCT LOCAL ARTERIAL OR COLLECTOR STREETS.
(d) IT IS THE FURTHER INTENT OF THE GENERAL ASSEMBLY TO ALLOW HIGHWAY AUTHORITIES TO FORM AGREEMENTS WITH PRIVATE ENTITIES TO PERFORM ALL OR A PORTION OF A HIGHWAY CONSTRUCTION PROJECT WHEN THE AUTHORITIES ARE IN NEED OF ADDITIONAL FUNDS TO INVEST IN A NEW HIGHWAY CONSTRUCTION PROJECT, WHERE SUCH AGREEMENTS COULD RESULT IN TIME AND COST SAVINGS AND RISK REDUCTION.
(2) THE GENERAL ASSEMBLY FURTHER FINDS, DETERMINES, AND DECLARES THAT NO PROVISION OF THIS ARTICLE SHALL AFFECT THE "PUBLIC SCHOOL FINANCE ACT OF 1994", ARTICLE 54 OF TITLE 22, C.R.S., OR ANY ADDITIONAL SCHOOL FINANCING MECHANISMS ADOPTED BY THE GENERAL ASSEMBLY.
(1) "AUTHORITY" MEANS A BODY CORPORATE AND POLITICAL SUBDIVISION OF THE STATE CREATED PURSUANT TO THIS ARTICLE.
(3) "BOND" MEANS ANY BOND, NOTE, INTERIM CERTIFICATE, CONTRACT, OR OTHER OBLIGATION OF AN AUTHORITY AUTHORIZED BY THIS ARTICLE.
(4) "COMBINATION" MEANS ANY TWO OR MORE MUNICIPALITIES, TWO OR MORE COUNTIES, OR ONE OR MORE MUNICIPALITIES AND ONE OR MORE COUNTIES OR ONE OF MORE SPECIAL DISTRICTS OR ONE OR MORE COUNTIES AND ONE OR MORE SPECIAL DISTRICTS. IN ADDITION, "COMBINATION" MAY INCLUDE THE STATE TO THE EXTENT AUTHORIZED BY SECTION 29­25­104 (4) OR ONE OR MORE SPECIAL DISTRICTS.
(5) "CONSTRUCT" OR "CONSTRUCTION" MEANS THE FINANCING, PLANNING, DESIGNING, ENGINEERING, ACQUISITION, INSTALLATION, CONSTRUCTION, RECONSTRUCTION, OR EXPANSION OF HIGHWAYS WITHIN THE STATE.
(8) "GOVERNMENTAL UNIT" MEANS THE STATE OR ANY POLITICAL SUBDIVISION THEREOF, INCLUDING SPECIAL DISTRICTS, LOCATED WITHIN THE STATE, EXCEPT SCHOOL DISTRICTS OR AUTHORITIES.
(9) "HIGHWAY" MEANS A HIGHWAY OR ROAD LOCATED WITHIN THE STATE. A HIGHWAY MAY CONSIST OF IMPROVEMENTS, AS THE BOARD DETERMINES, INCLUDING, BUT NOT LIMITED TO, PAVING, GRADING, LANDSCAPING, CURBS, GUTTERS, CULVERTS, SIDEWALKS, LIGHTING, BRIDGES, OVERPASSES, UNDERPASSES, FRONTAGE ROADS, ACCESS ROADS, INTERCHANGES, CROSS­ROADS, PARKWAYS, DRAINAGE FACILITIES, MASS TRANSIT LANES, PARK­AND­RIDE FACILITIES, TOLL COLLECTION FACILITIES, SERVICE AREAS, ADMINISTRATIVE OR MAINTENANCE FACILITIES, AND GAS, ELECTRIC, WATER, SEWER, COMMUNICATIONS, AND OTHER UTILITIES LOCATED OR TO BE LOCATED IN OR AFFECTED BY THE RIGHT­OF­WAY FOR A HIGHWAY CONSTRUCTION PROJECT. THE TERM MAY ALSO INCLUDE OTHER REAL OR PERSONAL PROPERTY, INCLUDING EASEMENTS, RIGHTS­OF­WAY, AND OTHER INTERESTS THEREIN, RELATING TO A HIGHWAY CONSTRUCTION PROJECT. RIGHTS­OF­WAY INCLUDED IN A HIGHWAY CONSTRUCTION PROJECT SHALL NOT BE CONSIDERED PUBLIC RIGHTS­OF­WAY FOR PURPOSES OF THE LOCATION OF UTILITIES OWNED BY PERSONS OTHER THAN THE AUTHORITY.
(11) "PERSON" MEANS ANY NATURAL PERSON, CORPORATION, PARTNERSHIP, ASSOCIATION, OR JOINT VENTURE, THE UNITED STATES OF AMERICA, OR ANY GOVERNMENTAL UNIT.
(12) "PRIVATE CONTRIBUTION" MEANS:
(a) THE SUPPLY BY A PRIVATE ENTITY OF RESOURCES TO ACCOMPLISH ALL OR ANY PART OF THE WORK ON A HIGHWAY CONSTRUCTION PROJECT, INCLUDING FUNDS, FINANCING, INCOME, REVENUE, COST SHARING, TECHNOLOGY, STAFF, EQUIPMENT, EXPERTISE, DATA, OR ENGINEERING, CONSTRUCTION, OR MAINTENANCE SERVICES;
(b) THE USE OF OR A LEASE OR EASEMENT IN, UNDER, OR ABOVE A PRIVATE RIGHT­OF­WAY; OR
(c) A PLEDGE OF REVENUES FROM A PRIVATE ENTITY TO GUARANTEE THE FULL OR PARTIAL PAYMENT OF ANY BONDS ISSUED BY THE AUTHORITY UNDER THIS ARTICLE.
(13) "PUBLIC BENEFIT" MEANS A GRANT OF A RIGHT OR INTEREST IN OR CONCERNING A HIGHWAY CONSTRUCTION PROJECT BY ANY MEMBER OF THE COMBINATION, INCLUDING:
(a) A LEASE OR EASEMENT IN, UNDER, OR ABOVE A STATE HIGHWAY RIGHT­OF­WAY, NOTWITHSTANDING SECTION 43­1­210, C.R.S.;
(b) ANY USE OF STATE HIGHWAY RIGHT­OF­WAY THAT DOES NOT IMPAIR HIGHWAY OPERATION OR SAFETY, NOTWITHSTANDING SECTION 43­3­101 (3), C.R.S.;
(c) ALL OR PART OF ANY REVENUE OR INCOME RESULTING FROM THE PRIVATE USE OF A STATE HIGHWAY RIGHT­OF­WAY;
(d) A MONEY PAYMENT FOR SERVICES FROM AVAILABLE FUNDS; AND
(e) ANY OTHER BENEFIT THAT IS SPECIFICALLY AUTHORIZED BY LAW.
(14) "PUBLIC­PRIVATE INITIATIVE" MEANS A NONTRADITIONAL ARRANGEMENT BETWEEN THE AUTHORITY AND ONE OR MORE PRIVATE ENTITIES THAT PROVIDES FOR:
(a) ACCEPTANCE OF A PRIVATE CONTRIBUTION TO A HIGHWAY CONSTRUCTION PROJECT IN EXCHANGE FOR A PUBLIC BENEFIT CONCERNING THAT PROJECT OTHER THAN ONLY A MONEY PAYMENT;
(b) SHARING OF RESOURCES AND THE MEANS OF PROVIDING ANY HIGHWAY CONSTRUCTION PROJECT; OR
(c) COOPERATION IN RESEARCHING, DEVELOPING, AND IMPLEMENTING ANY HIGHWAY CONSTRUCTION PROJECT.
(15) "REVENUES" MEANS ANY TOLLS, FEES, RATES, CHARGES, ASSESSMENTS, TAXES, GRANTS, CONTRIBUTIONS, OR OTHER INCOME AND REVENUES RECEIVED BY THE AUTHORITY FROM ANY PERSON.
(16) "SALES TAX" MEANS, FOR THE PURPOSES OF SECTION 29­25­112, COUNTY OR MUNICIPAL SALES OR USE TAXES LEVIED AND COLLECTED WITHIN A VALUE CAPTURE AREA, EXCLUDING THE TAX AUTHORIZED BY SECTION 29­25­106 (1) (m).
(17) "SPECIAL DISTRICT" MEANS ANY SPECIAL DISTRICT CREATED UNDER TITLE 32, C.R.S.
(18) "STATE" MEANS THE STATE OF COLORADO OR ANY OF ITS AGENCIES.
29­25­104. Creation of authorities. (1) ANY COMBINATION MAY CREATE, BY CONTRACT, AN AUTHORITY THAT IS AUTHORIZED TO EXERCISE THE FUNCTIONS CONFERRED BY THE PROVISIONS OF THIS ARTICLE UPON THE ISSUANCE BY THE DIRECTOR OF THE DIVISION OF A CERTIFICATE STATING THAT THE AUTHORITY HAS BEEN DULY ORGANIZED ACCORDING TO THE LAWS OF THE STATE. THE DIRECTOR SHALL ISSUE THE CERTIFICATE UPON THE FILING WITH THE DIRECTOR OF A COPY OF THE CONTRACT BY THE COMBINATION JOINING IN THE CREATION OF THE AUTHORITY. THE DIRECTOR SHALL CAUSE THE CERTIFICATE TO BE RECORDED IN THE REAL ESTATE RECORDS IN EACH COUNTY HAVING TERRITORY INCLUDED IN THE BOUNDARIES OF THE AUTHORITY. UPON ISSUANCE OF THE CERTIFICATE BY THE DIRECTOR OF THE DIVISION, THE AUTHORITY SHALL CONSTITUTE A SEPARATE POLITICAL SUBDIVISION AND BODY CORPORATE OF THE STATE AND SHALL HAVE ALL OF THE DUTIES, PRIVILEGES, IMMUNITIES, RIGHTS, LIABILITIES, AND DISABILITIES OF A PUBLIC BODY POLITIC AND CORPORATE.
(a) THE NAME AND PURPOSE OF THE AUTHORITY AND THE HIGHWAY CONSTRUCTION PROJECTS TO BE PROVIDED;
(I) THE NUMBER OF DIRECTORS, ALL OF WHICH, EXCEPT AS PROVIDED IN SUBSECTION (4) OF THIS SECTION, SHALL BE ELECTED OFFICIALS FROM THE MEMBERS OF THE COMBINATION AND WHICH SHALL INCLUDE AT LEAST ONE ELECTED OFFICIAL FROM EACH MEMBER OF THE COMBINATION;
(IV) THE VOTING REQUIREMENTS FOR ACTION BY THE BOARD; EXCEPT THAT, UNLESS SPECIFICALLY PROVIDED OTHERWISE IN THE CONTRACT, A MAJORITY OF THE DIRECTORS OF THE BOARD CONSTITUTES A QUORUM AND A MAJORITY OF THE QUORUM IS NECESSARY FOR ACTION BY THE BOARD;
(d) THE BOUNDARIES OF THE AUTHORITY, WHICH MAY INCLUDE TERRITORY WHICH, AT THE TIME OF DESIGNATION OR AS DESIGNATED IN ANY AMENDMENT TO THE CONTRACT, IS OUTSIDE THE BOUNDARIES OF ANY PORTION OF THE HIGHWAY CONSTRUCTED BY THE AUTHORITY BUT WHICH MAY NOT INCLUDE TERRITORY OUTSIDE OF THE BOUNDARIES OF THE MEMBERS OF THE COMBINATION;
(e) THE TERM OF THE CONTRACT, WHICH MAY BE FOR A DEFINITE TERM OR UNTIL RESCINDED OR TERMINATED, AND THE METHOD, IF ANY, BY WHICH IT MAY BE TERMINATED OR RESCINDED; EXCEPT THAT THE CONTRACT MAY NOT BE RESCINDED SO LONG AS THE AUTHORITY HAS BONDS OUTSTANDING;
(g) THE LIMITATIONS, IF ANY, ON THE POWERS GRANTED BY THIS ARTICLE THAT MAY BE EXERCISED BY THE AUTHORITY PURSUANT TO THIS ARTICLE; AND
(3) NO MUNICIPALITY, COUNTY, OR SPECIAL DISTRICT SHALL ENTER INTO THE CONTRACT ESTABLISHING THE AUTHORITY WITHOUT HOLDING A PUBLIC HEARING THEREON. THE MUNICIPALITY, COUNTY, OR SPECIAL DISTRICT SHALL GIVE NOTICE OF THE TIME, PLACE, AND PURPOSE OF THE HEARING BY PUBLICATION IN A NEWSPAPER OF GENERAL CIRCULATION IN THE MUNICIPALITY, COUNTY, OR SPECIAL DISTRICT, AS THE CASE MAY BE, AT LEAST TEN DAYS PRIOR TO THE DATE OF THE HEARING.
(4) THE STATE, ACTING BY AND THROUGH THE TRANSPORTATION COMMISSION, CREATED IN SECTION 43­1­106, C.R.S., AND UPON THE APPROVAL OF THE GOVERNOR, MAY JOIN IN THE CONTRACT CREATING THE AUTHORITY. THE NUMBER OF DIRECTORS OF THE BOARD TO WHICH THE STATE IS ENTITLED SHALL BE ESTABLISHED IN THE CONTRACT, BUT IN NO CASE SHALL THE STATE BE ENTITLED TO LESS THAN ONE DIRECTOR. THE GOVERNOR SHALL APPOINT THE DIRECTOR OR DIRECTORS REPRESENTING THE STATE ON THE BOARD, WITH THE CONSENT OF THE SENATE, FOR SUCH TERM AS ESTABLISHED BY THE GOVERNOR.
29­25­105. Board of directors. (1) ALL POWERS, PRIVILEGES, AND DUTIES VESTED IN OR IMPOSED UPON THE AUTHORITY SHALL BE EXERCISED AND PERFORMED BY AND THROUGH THE BOARD. THE BOARD, BY RESOLUTION, MAY DELEGATE ANY OF THE POWERS OF THE BOARD TO ANY OF THE OFFICERS OF THE AUTHORITY OR AGENTS OF THE BOARD.
(2) THE MEMBERS OF THE BOARD SHALL COMPLY WITH THE STANDARDS OF CONDUCT IMPOSED ON LOCAL GOVERNMENT OFFICIALS IN PARTS 1 AND 2 OF ARTICLE 18 OF TITLE 24, C.R.S.
(3) THE BOARD, IN ADDITION TO ALL OTHER POWERS CONFERRED BY THIS ARTICLE, HAS THE FOLLOWING POWERS:
(b) TO FIX THE TIME AND PLACE OF MEETINGS AND THE METHOD OF PROVIDING NOTICE OF THE MEETINGS;
(g) TO PRESCRIBE METHODS FOR AUDITING AND ALLOWING OR REJECTING CLAIMS AND DEMANDS; FOR THE LETTING OF CONTRACTS FOR THE CONSTRUCTION OF IMPROVEMENTS, WORKS, OR STRUCTURES; FOR THE ACQUISITION OF EQUIPMENT; OR FOR THE PERFORMANCE OR FURNISHING OF SUCH LABOR, MATERIALS, OR SUPPLIES AS MAY BE REQUIRED FOR CARRYING OUT THE PURPOSES OF THIS ARTICLE; AND
(4) THE MEETINGS OF THE BOARD SHALL BE HELD WITHIN THE AUTHORITY'S BOUNDARIES AND SHALL BE OPEN TO THE PUBLIC. THE BOARD SHALL NOT CONDUCT ANY BUSINESS EXCEPT AT A REGULAR OR SPECIAL MEETING AT WHICH A QUORUM CONSISTING OF AT LEAST A MAJORITY OF THE BOARD MEMBERS IS PRESENT.
29­25­106. Powers of the authority ­ fund created. (1) IN ADDITION TO ANY OTHER POWERS GRANTED TO THE AUTHORITY PURSUANT TO THIS ARTICLE, THE AUTHORITY HAS THE FOLLOWING POWERS:
(d) TO ESTABLISH, COLLECT, AND, FROM TIME TO TIME, INCREASE OR DECREASE FEES, TOLLS, RATES, AND CHARGES FOR THE PRIVILEGE OF TRAVELING ON OR USING ANY PROPERTY INCLUDED IN ANY HIGHWAY CONSTRUCTED BY THE AUTHORITY, WITHOUT THE FEES, TOLLS, RATES, AND CHARGES BEING SUBJECT TO ANY SUPERVISION OR REGULATION BY ANY BOARD, AGENCY, BUREAU, COMMISSION, OR OFFICIAL;
(e) TO PLEDGE ALL OR ANY PORTION OF THE REVENUES TO THE PAYMENT OF BONDS OR OTHER INDEBTEDNESS OF THE AUTHORITY;
(f) TO CONSTRUCT HIGHWAYS WITHIN OR WITHOUT THE BOUNDARIES OF THE AUTHORITY; EXCEPT THAT THE AUTHORITY SHALL NOT CONSTRUCT HIGHWAYS IN ANY TERRITORY LOCATED OUTSIDE THE BOUNDARIES OF THE AUTHORITY AND WITHIN THE BOUNDARIES OF A MUNICIPALITY WITHOUT THE CONSENT OF THE GOVERNING BODY OF SUCH MUNICIPALITY OR WITHIN THE UNINCORPORATED BOUNDARIES OF A COUNTY WITHOUT THE CONSENT OF THE GOVERNING BODY OF SUCH COUNTY;
(g) TO PURCHASE, TRADE, EXCHANGE, ACQUIRE, BUY, SELL, LEASE, LEASE WITH AN OPTION TO PURCHASE, DISPOSE OF, AND ENCUMBER REAL OR PERSONAL PROPERTY AND ANY INTEREST THEREIN, INCLUDING EASEMENTS AND RIGHTS­OF­WAY, WITHOUT RESTRICTION OR LIMITATION BY OTHER STATUTORY OR CHARTER PROVISIONS;
(h) TO HAVE AND EXERCISE THE POWER OF EMINENT DOMAIN IN THE MANNER PROVIDED BY LAW FOR THE CONDEMNATION OF PRIVATE PROPERTY FOR PUBLIC USE AND TO TAKE ANY PRIVATE PROPERTY NECESSARY TO EXERCISE THE POWERS GRANTED IN THIS ARTICLE, EITHER WITHIN OR WITHOUT THE BOUNDARIES OF THE AUTHORITY; EXCEPT THAT THE AUTHORITY SHALL NOT EXERCISE THE POWER OF EMINENT DOMAIN WITH RESPECT TO PROPERTY LOCATED OUTSIDE THE BOUNDARIES OF THE AUTHORITY AND WITHIN THE BOUNDARIES OF A MUNICIPALITY WITHOUT THE CONSENT OF THE GOVERNING BODY OF SUCH MUNICIPALITY OR WITHIN THE UNINCORPORATED BOUNDARIES OF A COUNTY WITHOUT THE CONSENT OF THE GOVERNING BODY OF SUCH COUNTY;
(i) TO ACCEPT REAL OR PERSONAL PROPERTY FOR THE USE OF THE AUTHORITY AND TO ACCEPT GIFTS AND CONVEYANCES UPON THE TERMS AND CONDITIONS AS THE BOARD MAY APPROVE, INCLUDING THE ACCEPTANCE OF REVENUES FROM GOVERNMENTAL UNITS TO PERFORM HIGHWAY CONSTRUCTION PROJECTS;
(j) TO MAKE OR ENTER INTO CONTRACTS OR AGREEMENTS WITH ONE OR MORE PUBLIC OR PRIVATE ENTITIES TO PERFORM HIGHWAY CONSTRUCTION PROJECTS BY MEANS OF A PUBLIC­PRIVATE INITIATIVE UNDER SECTION 29­25­108;
(k) TO ESTABLISH AND, FROM TIME TO TIME, INCREASE OR DECREASE HIGHWAY EXPANSION FEES AND COLLECT THE FEES FROM PERSONS OWNING PROPERTY LOCATED WITHIN THE BOUNDARIES OF THE AUTHORITY WHO APPLY FOR A BUILDING PERMIT FOR IMPROVEMENTS ON THE PROPERTY, WHICH PERMIT IS ISSUED IN ACCORDANCE WITH APPLICABLE ORDINANCES, RESOLUTIONS, OR REGULATIONS OF ANY GOVERNMENTAL UNIT. AFTER THE FEES HAVE BEEN ESTABLISHED BY THE AUTHORITY, A GOVERNMENTAL UNIT SHALL NOT ISSUE A BUILDING PERMIT FOR ANY IMPROVEMENT CONSTRUCTED WITHIN THE BOUNDARIES OF THE AUTHORITY UNTIL THE FEES HAVE BEEN PAID TO THE AUTHORITY.
(l) TO IMPOSE AN ANNUAL MOTOR VEHICLE REGISTRATION FEE OF NOT MORE THAN TEN DOLLARS FOR EACH MOTOR VEHICLE REGISTERED WITH THE COUNTY CLERK AND RECORDER OF THE COUNTY BY PERSONS RESIDING IN ALL OR ANY DESIGNATED PORTION OF THE MEMBERS OF THE COMBINATION. THE REGISTRATION FEE IS IN ADDITION TO ANY FEE OR TAX IMPOSED BY THE STATE OR ANY OTHER GOVERNMENTAL UNIT. IF A MOTOR VEHICLE IS REGISTERED IN A COUNTY THAT IS A MEMBER OF MORE THAN ONE AUTHORITY, THE TOTAL OF ALL FEES IMPOSED PURSUANT TO THIS PARAGRAPH (l) FOR ANY SUCH MOTOR VEHICLE SHALL NOT EXCEED TEN DOLLARS. THE COUNTY CLERK AND RECORDER OF THE COUNTY IN WHICH THE REGISTRATION FEE IS IMPOSED SHALL COLLECT THE FEE AND REMIT THE FEE TO THE AUTHORITY. THE AUTHORITY SHALL APPLY THE REGISTRATION FEES SOLELY TO THE HIGHWAY CONSTRUCTION PROJECTS THAT ARE CONSISTENT WITH THE EXPENDITURES SPECIFIED UNDER SECTION 18 OF ARTICLE X OF THE STATE CONSTITUTION.
(m) SUBJECT TO THE PROVISIONS OF SECTION 29­25­116, TO LEVY, IN ALL OR ANY DESIGNATED PORTION OF THE MEMBERS OF THE COMBINATION, A SALES OR USE TAX, OR BOTH, AT A RATE NOT TO EXCEED FOUR­TENTHS OF ONE PERCENT UPON EVERY TRANSACTION OR OTHER INCIDENT WITH RESPECT TO WHICH A SALES OR USE TAX IS LEVIED BY THE STATE. THE TAX IMPOSED PURSUANT TO THIS PARAGRAPH (m) IS IN ADDITION TO ANY OTHER SALES OR USE TAX IMPOSED PURSUANT TO LAW AND IS EXEMPT FROM THE LIMITATION IMPOSED BY SECTION 29­2­108. IF A MEMBER OF THE COMBINATION IS LOCATED WITHIN MORE THAN ONE AUTHORITY, THE SALES OR USE TAX, OR BOTH, AUTHORIZED BY THIS PARAGRAPH (m) SHALL NOT EXCEED FOUR­TENTHS OF ONE PERCENT UPON EVERY TRANSACTION OR OTHER INCIDENT WITH RESPECT TO WHICH A SALES OR USE TAX IS LEVIED BY THE STATE. THE EXECUTIVE DIRECTOR OF THE DEPARTMENT OF REVENUE SHALL COLLECT, ADMINISTER, AND ENFORCE THE SALES OR USE TAX, TO THE EXTENT FEASIBLE, IN THE MANNER PROVIDED IN SECTION 29­2­106. THE EXECUTIVE DIRECTOR OF THE DEPARTMENT OF REVENUE SHALL MAKE MONTHLY DISTRIBUTIONS OF THE TAX COLLECTIONS TO THE AUTHORITY, WHICH SHALL APPLY THE PROCEEDS SOLELY TO THE HIGHWAY CONSTRUCTION PROJECTS PERFORMED BY THE AUTHORITY. THE DEPARTMENT OF REVENUE SHALL RETAIN AN AMOUNT NOT TO EXCEED THE COST OF THE COLLECTION, ADMINISTRATION, AND ENFORCEMENT AND SHALL TRANSMIT THE AMOUNT TO THE STATE TREASURER, WHO SHALL CREDIT THE SAME TO THE HIGHWAY AUTHORITY SALES TAX FUND, WHICH FUND IS HEREBY CREATED. THE AMOUNTS SO RETAINED ARE HEREBY APPROPRIATED ANNUALLY FROM THE FUND TO THE DEPARTMENT OF REVENUE TO THE EXTENT NECESSARY FOR THE DEPARTMENT'S COLLECTION, ADMINISTRATION, AND ENFORCEMENT OF THE PROVISIONS OF THIS ARTICLE. ANY MONEYS REMAINING IN THE FUND ATTRIBUTABLE TO TAXES COLLECTED IN THE PRIOR FISCAL YEAR SHALL BE TRANSMITTED TO THE AUTHORITY; EXCEPT THAT, PRIOR TO THE TRANSMISSION TO THE AUTHORITY OF SUCH MONEYS, ANY MONEYS APPROPRIATED FROM THE GENERAL FUND TO THE DEPARTMENT OF REVENUE FOR THE COLLECTION, ADMINISTRATION, AND ENFORCEMENT OF THE TAX FOR THE PRIOR FISCAL YEAR SHALL BE REPAID.
(n) SUBJECT TO THE PROVISIONS OF SECTION 29­25­116, TO ESTABLISH AND, FROM TIME TO TIME, INCREASE OR DECREASE A TAX ON THE PRIVILEGE OF EMPLOYMENT IN ALL OR ANY DESIGNATED PORTION OF THE MEMBERS OF THE COMBINATION AT A RATE NOT TO EXCEED TWO DOLLARS PER MONTH, TO COLLECT THE TAX FROM PERSONS EMPLOYED IN ALL OR ANY DESIGNATED PORTION OF THE MEMBERS OF THE COMBINATION, AND TO ADOPT RULES IN CONNECTION WITH THE COLLECTION OF THE TAX. IF A MEMBER OF THE COMBINATION IS LOCATED WITHIN MORE THAN ONE AUTHORITY, THE TAX AUTHORIZED BY THIS PARAGRAPH (n) SHALL NOT EXCEED A RATE OF TWO DOLLARS PER MONTH COLLECTED FROM ANY PERSON EMPLOYED IN ALL OR ANY DESIGNATED PORTION OF THE MEMBERS OF THE COMBINATION.
(o) SUBJECT TO THE PROVISIONS OF SECTION 29­25­116, TO ESTABLISH AND, FROM TIME TO TIME, INCREASE OR DECREASE A TAX ON THE PRIVILEGE OF CONDUCTING ANY TRADE, BUSINESS, OCCUPATION, OR PROFESSION, IN ALL OR ANY DESIGNATED PORTION OF THE MEMBERS OF THE COMBINATION, AT A RATE NOT TO EXCEED TWO DOLLARS PER MONTH FOR EACH PERSON ENGAGED IN ANY TRADE, BUSINESS, OCCUPATION, OR PROFESSION, TO COLLECT THE TAX FROM PERSONS ENGAGED IN ANY TRADE, BUSINESS, OCCUPATION, OR PROFESSION IN ALL OR ANY DESIGNATED PORTION OF THE MEMBERS OF THE COMBINATION, AND TO ADOPT RULES IN CONNECTION WITH THE COLLECTION OF THE TAX. IF A MEMBER OF THE COMBINATION IS LOCATED WITHIN MORE THAN ONE AUTHORITY, THE TAX AUTHORIZED BY THIS PARAGRAPH (o) SHALL NOT EXCEED A RATE OF TWO DOLLARS PER MONTH FOR EACH PERSON ENGAGED IN ANY TRADE, BUSINESS, OCCUPATION, OR PROFESSION IN ALL OR ANY DESIGNATED PORTION OF THE MEMBERS OF THE COMBINATION.
(p) TO HAVE AND EXERCISE ALL RIGHTS AND POWERS NECESSARY OR INCIDENTAL TO OR IMPLIED FROM THE SPECIFIC POWERS GRANTED BY THIS ARTICLE. THE SPECIFIC POWERS SHALL NOT BE CONSIDERED AS A LIMITATION UPON ANY POWER NECESSARY OR APPROPRIATE TO CARRY OUT THE PURPOSES AND INTENT OF THIS ARTICLE.
(2) THE BOARD, UPON THE AFFIRMATIVE VOTE OF TWO­THIRDS OF THE DIRECTORS OF THE BOARD, MAY DETERMINE THE LOCATION OF ANY HIGHWAY CONSTRUCTION PROJECT.
29­25­107. Inclusion or exclusion of property. (1) THE BOARD MAY INCLUDE PROPERTY WITHIN OR EXCLUDE PROPERTY FROM THE BOUNDARIES OF THE AUTHORITY IN THE MANNER PROVIDED IN THIS SUBSECTION (1). THE BOARD MAY INCLUDE PROPERTY WITHIN THE BOUNDARIES OF THE AUTHORITY AT THE TIME A FINAL SUBDIVISION PLAT IS APPROVED BY A LOCAL GOVERNMENT. PROPERTY MAY NOT BE INCLUDED WITHIN THE BOUNDARIES OF THE AUTHORITY UNLESS IT IS WITHIN THE BOUNDARIES OF THE MEMBERS OF THE COMBINATION AND IS CONTIGUOUS TO PROPERTY WITHIN THE BOUNDARIES OF THE AUTHORITY AT THE TIME OF THE INCLUSION AS DESCRIBED IN THE CONTRACT REQUIRED BY SECTION 29­25­104 (2) OR ANY AMENDMENT THERETO.
(2) (a) PRIOR TO ANY INCLUSION IN OR EXCLUSION OF PROPERTY FROM THE BOUNDARIES OF THE AUTHORITY, THE BOARD SHALL CAUSE NOTICE OF THE PROPOSED INCLUSION OR EXCLUSION TO BE PUBLISHED IN A NEWSPAPER OF GENERAL CIRCULATION WITHIN THE BOUNDARIES OF THE AUTHORITY AND CAUSE THE NOTICE TO BE MAILED TO THE DIVISION, TO THE TRANSPORTATION COMMISSION, AND TO THE OWNERS OF PROPERTY TO BE INCLUDED OR EXCLUDED AT THE LAST KNOWN ADDRESS DESCRIBED FOR THE OWNERS IN THE REAL ESTATE RECORDS OF THE COUNTY IN WHICH THE PROPERTY IS LOCATED. THE NOTICE SHALL DESCRIBE THE PROPERTY TO BE INCLUDED WITHIN OR EXCLUDED FROM THE BOUNDARIES OF THE AUTHORITY, SHALL SPECIFY THE DATE, TIME, AND PLACE AT WHICH THE BOARD SHALL HOLD A PUBLIC HEARING ON THE PROPOSED INCLUSION OR EXCLUSION, AND SHALL STATE THAT PERSONS HAVING OBJECTIONS TO THE INCLUSION OR EXCLUSION MAY APPEAR AT THE HEARING TO OBJECT TO THE PROPOSED INCLUSION OR EXCLUSION. THE DATE OF THE PUBLIC HEARING CONTAINED IN THE NOTICE SHALL BE NOT LESS THAN TWENTY DAYS AFTER THE MAILING AND PUBLICATION OF THE NOTICE. THE BOARD, AT THE TIME AND PLACE DESIGNATED IN THE NOTICE OR AT SUCH TIMES AND PLACES TO WHICH THE HEARING MAY BE ADJOURNED, SHALL HEAR ALL OBJECTIONS TO THE PROPOSED INCLUSION OR EXCLUSION.
(b) THE BOARD, UPON THE AFFIRMATIVE VOTE OF TWO­THIRDS OF THE DIRECTORS OF THE BOARD, MAY ADOPT A RESOLUTION INCLUDING OR EXCLUDING ALL OR ANY PORTION OF THE PROPERTY DESCRIBED IN THE NOTICE. UPON THE ADOPTION OF THE RESOLUTION, THE PROPERTY SHALL BE INCLUDED WITHIN OR EXCLUDED FROM THE BOUNDARIES OF THE AUTHORITY AS SET FORTH IN THE RESOLUTION. THE BOARD MAY ADOPT THE RESOLUTION WITHOUT AMENDING THE CONTRACT REQUIRED BY SECTION 29­25­104 (2). THE BOARD SHALL FILE THE RESOLUTION WITH THE DIRECTOR OF THE DIVISION, WHO SHALL CAUSE THE RESOLUTION TO BE RECORDED IN THE REAL ESTATE RECORDS OF EACH COUNTY HAVING TERRITORY INCLUDED IN THE BOUNDARIES OF THE AUTHORITY.
(3) ALL PROPERTY EXCLUDED FROM THE AUTHORITY SHALL THEREAFTER BE SUBJECT TO THE REVENUE­RAISING POWERS OF THE AUTHORITY ONLY TO THE EXTENT THAT THE POWERS HAVE BEEN EXERCISED BY THE AUTHORITY AGAINST THE PROPERTY PRIOR TO THE EXCLUSION AND TO THE EXTENT REQUIRED TO COMPLY WITH AGREEMENTS WITH THE HOLDERS OF BONDS OUTSTANDING AT THE TIME OF THE EXCLUSION. ALL PROPERTY INCLUDED WITHIN THE AUTHORITY SHALL THEREAFTER BE SUBJECT TO THE REVENUE­RAISING POWERS OF THE AUTHORITY. IN NO WAY WILL THIS SECTION AFFECT OR INCREASE PROPERTY TAXES IN THE AFFECTED TERRITORY OR JURISDICTION.
(4) PROPERTY INCLUDED IN AN AUTHORITY PURSUANT TO THIS SECTION IS SUBJECT TO THE SAME MILL LEVIES AND OTHER TAXES LEVIED OR TO BE LEVIED ON OTHER SIMILARLY SITUATED PROPERTY AT THE TIME THE ADDITIONAL PROPERTY IS INCLUDED. THE NEWLY INCLUDED PROPERTY IS AN ADDITION TO TAXABLE REAL PROPERTY, AND THE APPLICATION OF SUCH LEVIES AND OTHER TAXES TO THE NEWLY INCLUDED PROPERTY IS NOT SUBJECT TO THE REQUIREMENTS OF SECTION 20 (4) OF ARTICLE X OF THE STATE CONSTITUTION. THIS SUBSECTION (4) IS INTENDED TO PLACE NEWLY INCLUDED PROPERTY AND SIMILARLY SITUATED EXISTING PROPERTY WITHIN AN AUTHORITY ON AN EQUAL BASIS.
29­25­108. Public­private initiatives. (1) NOTWITHSTANDING ANY OTHER LAW TO THE CONTRARY, AN AUTHORITY MAY:
(a) SOLICIT AND CONSIDER PROPOSALS, ENTER INTO AGREEMENTS, GRANT PUBLIC BENEFITS, AND ACCEPT CONTRIBUTIONS FOR PUBLIC­PRIVATE INITIATIVES FOR THE PURPOSE OF PERFORMING ANY HIGHWAY CONSTRUCTION PROJECT WITHIN THE AUTHORITY;
(b) SOLICIT PROPOSALS FOR PUBLIC­PRIVATE INITIATIVES AS COMPETITIVE SEALED BIDS PURSUANT TO SECTION 24­103­203, C.R.S.;
(c) GRANT A PUBLIC BENEFIT IN OR CONCERNING A HIGHWAY CONSTRUCTION PROJECT IN EXCHANGE FOR A PRIVATE CONTRIBUTION TO THAT PROJECT, BUT THE TERM OF ANY LEASE, EASEMENT, OR FRANCHISE GRANTED BY A MEMBER OF THE COMBINATION AS A PUBLIC BENEFIT UNDER THIS SECTION SHALL:
(I) REASONABLY RELATE TO THE VALUE OF THE PRIVATE CONTRIBUTION AS DETERMINED BY THE AUTHORITY; AND
(II) NOT EXCEED NINETY­NINE YEARS; AND
(d) ACCEPT A PRIVATE CONTRIBUTION FOR A HIGHWAY CONSTRUCTION PROJECT.
(2) A HIGHWAY CONSTRUCTION PROJECT SHALL NOT BE PERFORMED UNDER THIS SECTION UNLESS THE PROJECT IS CONSISTENT AND COMPATIBLE WITH THE USE AND ZONING OF THE LAND ADJACENT TO ANY PUBLIC BENEFIT.
(3) (a) RETAIL GOODS AND SERVICES SHALL NOT BE AUTHORIZED UNDER THIS SECTION. THIS SUBSECTION (3) SHALL NOT PROHIBIT RETAIL GOODS AND SERVICES EXISTING BEFORE THE EFFECTIVE DATE OF THIS SECTION OR ANY VENDING FACILITY DEFINED IN SECTION 26­8.5­101, C.R.S.
(b) FOR PURPOSES OF THIS SUBSECTION (3), "RETAIL GOODS AND SERVICES" MEANS ALL GOODS AND SERVICES SOLD TO THE PUBLIC OTHER THAN COMMUNICATIONS SERVICES.
(4) (a) AN AUTHORITY SHALL ENTER INTO AN AGREEMENT FOR EACH PUBLIC­PRIVATE INITIATIVE.
(b) THE AUTHORITY SHALL INCLUDE TERMS AND CONDITIONS IN THE AGREEMENT THAT IT DETERMINES ARE IN THE PUBLIC INTEREST AND PROTECTS HIGHWAY AND TRAFFIC SAFETY.
(c) THE AGREEMENT SHALL PROVIDE THAT:
(I) THE PRIVATE ENTITY SHALL NOT PLEDGE OR CAUSE A LIEN TO BE CREATED ON THE TRANSPORTATION SYSTEM OR RIGHT­OF­WAY INVOLVED IN THE HIGHWAY CONSTRUCTION PROJECT;
(II) AN AUTHORITY OR A MEMBER OF THE COMBINATION OWNS THE TRANSPORTATION SYSTEM AND RIGHT­OF­WAY INVOLVED IN THE HIGHWAY CONSTRUCTION PROJECT AT ALL TIMES;
(III) NOTWITHSTANDING THE FACT THAT THE AUTHORITY ENTERS INTO AN AGREEMENT FOR A PUBLIC­PRIVATE INITIATIVE, ANY MEMBER OF THE COMBINATION IS NOT A PARTNER OR A JOINT VENTURER WITH THE PRIVATE ENTITY FOR ANY PURPOSE.
(d) THE AUTHORITY IS SUBJECT TO THE SAME REQUIREMENTS CONCERNING TELECOMMUNICATIONS PROVIDERS IMPOSED ON SIMILAR AGREEMENTS ENTERED INTO BY THE DEPARTMENT UNDER SECTION 43­1­1204 (5), C.R.S.
(5) AN AUTHORITY SHALL ADOPT RULES THAT IT DETERMINES ARE NECESSARY TO IMPLEMENT THE PROVISIONS OF THIS SECTION, INCLUDING RULES ON THE SOLICITATION AND EVALUATION OF PUBLIC­PRIVATE INITIATIVES, INITIATIVE AGREEMENTS, PRIVATE CONTRIBUTIONS, AND PUBLIC BENEFITS TO BE GRANTED IN EXCHANGE FOR CONTRIBUTIONS.
(6) ANY PUBLIC­PRIVATE INITIATIVE CREATED PURSUANT TO THIS SECTION SHALL BE SUBJECT TO APPLICABLE STATE AND FEDERAL LAWS TO THE EXTENT THAT SUCH LAWS AUTHORIZE THE USE OF PUBLIC HIGHWAYS BY ANY PUBLIC OR PRIVATE ENTITY.
29­25­109. Disposition of fees, fares, and tolls. (1) ANY FEES, FARES, AND TOLLS TO BE CHARGED FOR THE USE OF ANY HIGHWAY CONSTRUCTED BY AN AUTHORITY SHALL BE FIXED AND ADJUSTED SO THAT THE FEES, FARES, AND TOLLS COLLECTED, ALONG WITH OTHER REVENUES, IF ANY, ARE AT LEAST SUFFICIENT TO PAY FOR ANY BONDS ISSUED OR FOR ANY OTHER INDEBTEDNESS INCURRED PURSUANT TO THIS ARTICLE AND INTEREST THEREON.
(2) IF AMOUNTS GENERATED FROM THE FEES, FARES, AND TOLLS COLLECTED EXCEED THE AMOUNT REQUIRED IN SUBSECTION (1) OF THIS SECTION, THE FEES, FARES, AND TOLLS MAY THEN BE USED TO PAY THE NECESSARY COSTS FOR THE OPERATION OR MAINTENANCE OF ANY HIGHWAY CONSTRUCTION PROJECT.
29­25­110. Traffic laws ­ toll collection. (1) THE TRAFFIC LAWS OF THIS STATE AND OF ANY MUNICIPALITY, IN WHICH A HIGHWAY IS CONSTRUCTED BY AN AUTHORITY SHALL PERTAIN TO AND GOVERN THE USE OF ANY SUCH HIGHWAY ON WHICH VEHICLES SUBJECT TO THE TRAFFIC LAWS ARE OPERATED. STATE AND LOCAL LAW ENFORCEMENT AUTHORITIES ARE AUTHORIZED TO ENTER INTO TRAFFIC AND TOLL ENFORCEMENT AGREEMENTS WITH AUTHORITIES. ANY FUNDS RECEIVED BY A STATE LAW ENFORCEMENT AUTHORITY PURSUANT TO THE TOLL ENFORCEMENT AGREEMENT ARE SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL ASSEMBLY TO THE LAW ENFORCEMENT AUTHORITY FOR THE PURPOSE OF PERFORMING ITS DUTIES PURSUANT TO THE AGREEMENT.
(2) ANY PERSON WHO FAILS TO PAY A REQUIRED FEE, TOLL, RATE, OR CHARGE FOR THE PRIVILEGE OF TRAVELING ON OR USING ANY HIGHWAY CONSTRUCTED BY AN AUTHORITY UNDER THIS ARTICLE IS SUBJECT TO THE PENALTY SPECIFIED IN SECTIONS 42­4­613 AND 42­4­1701 (4) (a) (I) (G), C.R.S.
29­25­111. Local improvement districts. THE BOARD MAY ESTABLISH LOCAL IMPROVEMENT DISTRICTS WITHIN THE BOUNDARIES OF THE AUTHORITY TO FACILITATE THE PERFORMANCE OF A HIGHWAY CONSTRUCTION PROJECT WITHIN OR WITHOUT THE BOUNDARIES OF THE AUTHORITY. THE BOARD MAY ESTABLISH SUCH LOCAL IMPROVEMENT DISTRICTS WHENEVER ANY AREA WITHIN THE BOUNDARIES OF THE AUTHORITY, IN THE OPINION OF THE BOARD, WILL BE ESPECIALLY BENEFITED BY THE PERFORMANCE OF THE HIGHWAY PROJECT. THE BOARD SHALL NOT ESTABLISH A LOCAL IMPROVEMENT DISTRICT UNLESS THE BOARD RECEIVES A PETITION SIGNED BY THE OWNERS OF THE PROPERTY THAT WILL BEAR A MAJORITY OF THE PROPOSED ASSESSMENTS AND A PETITION SIGNED BY THE LESSER OF A MAJORITY OF THE REGISTERED ELECTORATE IN THE PROPOSED DISTRICT OR ONE THOUSAND REGISTERED ELECTORS IN THE PROPOSED DISTRICT. THE METHOD OF CREATING LOCAL IMPROVEMENT DISTRICTS, MAKING THE IMPROVEMENTS, AND ASSESSING THE COSTS THEREOF SHALL BE AS PROVIDED IN PART 6 OF ARTICLE 20 OF TITLE 30, C.R.S.; EXCEPT THAT THE BOARD SHALL PERFORM THE DUTIES OF THE BOARD OF COUNTY COMMISSIONERS THEREUNDER AND THE IMPROVEMENTS SHALL BE HIGHWAYS AS DEFINED IN SECTION 29­25­103 (9).
29­25­112. Value capture areas. (1) THE BOARD MAY ESTABLISH ONE OR MORE VALUE CAPTURE AREAS WITHIN ITS BOUNDARIES TO FACILITATE THE PERFORMANCE OF HIGHWAY CONSTRUCTION PROJECTS WITHIN OR WITHOUT THE BOUNDARIES OF THE AUTHORITY. THE BOARD MAY ESTABLISH VALUE CAPTURE AREAS WHENEVER THE MARKET VALUE OF ANY AREA WITHIN THE BOUNDARIES OF THE AUTHORITY, IN THE OPINION OF THE BOARD, WILL INCREASE AS A RESULT OF THE PERFORMANCE OF THE HIGHWAY CONSTRUCTION PROJECT.
(2) (a) PRIOR TO THE CREATION OF A VALUE CAPTURE AREA, THE BOARD SHALL PREPARE A VALUE CAPTURE PLAN WHICH SHALL IDENTIFY THE FOLLOWING:
(I) THE HIGHWAY CONSTRUCTION PROJECT TO BE PERFORMED;
(II) THE PROPERTY TO BE INCLUDED IN THE VALUE CAPTURE AREA;
(III) THE PERIOD OF TIME THAT THE VALUE CAPTURE AREA IS TO BE IN EFFECT; AND
(IV) THE PORTION OF THE PROPERTY TAXES OR SALES TAXES LEVIED OR COLLECTED WITHIN THE VALUE CAPTURE AREA THAT WILL BE RETAINED BY THE AUTHORITY DURING THE PERIOD THE VALUE CAPTURE AREA REMAINS IN EFFECT.
(b) THE BOARD SHALL SUBMIT A COPY OF THE VALUE CAPTURE PLAN TO THE DIVISION, THE DEPARTMENT OF REVENUE, AND THE GOVERNING BODY OF EACH GOVERNMENTAL UNIT HAVING THE POWER TO LEVY OR IMPOSE A PROPERTY TAX OR SALES TAX WITHIN THE BOUNDARIES OF THE PROPOSED VALUE CAPTURE AREA.
(c) NOT LESS THAN TWENTY DAYS PRIOR TO THE HEARING ON THE VALUE CAPTURE PLAN, THE BOARD SHALL PUBLISH NOTICE OF THE TIME AND PLACE OF THE HEARING ON THE VALUE CAPTURE PLAN AT LEAST ONE TIME IN A NEWSPAPER OF GENERAL CIRCULATION IN THE PROPOSED VALUE CAPTURE AREA AND SHALL MAIL THE NOTICE TO THE DIVISION AND THE GOVERNMENTAL UNITS THAT RECEIVE THE VALUE CAPTURE PLAN.
(3) THE BOARD SHALL HOLD A HEARING THAT IS OPEN TO THE PUBLIC AND SHALL MAKE A RECORD OF THE PROCEEDINGS. ALL GOVERNMENTAL UNITS THAT RECEIVE NOTICE OF THE HEARING AS SET FORTH IN SUBSECTION (2) OF THIS SECTION AND EACH OWNER OF PROPERTY WITHIN THE PROPOSED VALUE CAPTURE AREA SHALL BE INTERESTED PARTIES AND SHALL BE AFFORDED AN OPPORTUNITY TO BE HEARD. FOLLOWING THE HEARING, THE BOARD MAY APPROVE OR DISAPPROVE THE VALUE CAPTURE PLAN. AFTER APPROVAL, ANY SUCH VALUE CAPTURE PLAN MAY BE MODIFIED IN SUBSTANTIALLY THE SAME MANNER AS THE ORIGINAL APPROVAL.
(4) ANY SUCH VALUE CAPTURE PLAN AS ORIGINALLY ADOPTED OR LATER MODIFIED MAY CONTAIN A PROVISION THAT PROPERTY TAXES, IF ANY, LEVIED OR IMPOSED BY A GOVERNMENTAL UNIT UPON TAXABLE PROPERTY WITHIN THE VALUE CAPTURE AREA AFTER THE EFFECTIVE DATE OF THE VALUE CAPTURE PLAN OR THAT ANY SALES TAXES COLLECTED WITHIN THE VALUE CAPTURE AREA AFTER THE EFFECTIVE DATE OF THE VALUE CAPTURE PLAN, OR ALL SUCH TAXES, SHALL BE DIVIDED FOR A PERIOD SET FORTH IN THE VALUE CAPTURE PLAN AFTER THE EFFECTIVE DATE OF THE VALUE CAPTURE PLAN, AS FOLLOWS:
(a) THAT PORTION OF THE PROPERTY TAXES THAT ARE PRODUCED BY THE LEVY AT THE RATE FIXED EACH YEAR BY OR FOR EACH GOVERNMENTAL UNIT UPON THE VALUATION FOR ASSESSMENT OF TAXABLE PROPERTY WITHIN THE BOUNDARIES OF THE VALUE CAPTURE AREA LAST CERTIFIED PRIOR TO THE EFFECTIVE DATE OF THE VALUE CAPTURE PLAN OR THAT PORTION OF THE SALES TAX COLLECTED WITHIN THE BOUNDARIES OF THE VALUE CAPTURE AREA IN THE TWELVE­MONTH PERIOD ENDING ON THE LAST DAY OF THE MONTH PRIOR TO THE EFFECTIVE DATE OF THE VALUE CAPTURE PLAN, OR BOTH SUCH PORTIONS, SHALL BE PAID INTO THE FUNDS OF EACH SUCH GOVERNMENTAL UNIT AS ARE ALL OTHER TAXES COLLECTED BY OR FOR THE GOVERNMENTAL UNIT.
(b) TWENTY­FIVE PERCENT, OR SUCH DIFFERENT AMOUNTS AS MAY BE AGREED TO BY EACH AFFECTED GOVERNMENTAL UNIT, OF THE AMOUNT OF THE PROPERTY TAXES OR SALES TAXES, OR BOTH, IN EXCESS OF THE PORTION DETERMINED IN PARAGRAPH (a) OF THIS SUBSECTION (4) SHALL BE ALLOCATED AND, WHEN COLLECTED, PAID INTO A SPECIAL FUND OF THE AUTHORITY FOR THE PAYMENT OF, OR FOR THE FUNDING OF RESERVES, SINKING, OR OTHER FUNDS FOR THE PAYMENT OF, THE PRINCIPAL OF, INTEREST ON, AND ANY PREMIUMS DUE IN CONNECTION WITH THE BONDS OF THE AUTHORITY INCURRED FOR THE FINANCING OF HIGHWAY CONSTRUCTION PROJECTS. THE BALANCE, IF ANY, OF THE EXCESS SHALL BE PAID INTO THE FUNDS OF EACH SUCH GOVERNMENTAL UNIT AS ARE ALL OTHER TAXES COLLECTED BY OR FOR THE GOVERNMENTAL UNIT.
(5) IN THE EVENT THAT THERE IS A GENERAL REASSESSMENT OF TAXABLE PROPERTY IN ANY COUNTY, INCLUDING ALL OR PART OF A VALUE CAPTURE AREA, OR A CHANGE IN THE RATE OF THE SALES TAX COLLECTED BY A MUNICIPALITY, COUNTY, OR SPECIAL DISTRICT IN A VALUE CAPTURE AREA, THE PORTIONS OF TAXES SPECIFIED IN SUBSECTION (4) OF THIS SECTION SHALL BE PROPORTIONATELY ADJUSTED IN ACCORDANCE WITH THE REASSESSMENT OR CHANGE.
(6) WHEN ANY BONDS ISSUED BY THE AUTHORITY FOR HIGHWAY CONSTRUCTION PROJECTS BENEFITING A VALUE CAPTURE AREA, INCLUDING REFUNDING BONDS, HAVE BEEN PAID, ALL TAXES IN THE VALUE CAPTURE AREA SHALL THEREAFTER BE PAID INTO THE FUNDS OF THE RESPECTIVE GOVERNMENTAL UNITS.
29­25­113. Bonds. (1) SUBJECT TO THE PROVISIONS OF SECTION 29­25­116, THE AUTHORITY MAY, FROM TIME TO TIME, ISSUE BONDS FOR ANY OF ITS CORPORATE PURPOSES. THE AUTHORITY SHALL ISSUE THE BONDS PURSUANT TO RESOLUTION OF THE BOARD, AND THE BONDS SHALL BE PAYABLE SOLELY OUT OF ALL OR A SPECIFIED PORTION OF THE REVENUES AS DESIGNATED BY THE BOARD.
(j) BE EXECUTED BY THE OFFICERS OF THE AUTHORITY, INCLUDING THE USE OF ONE OR MORE FACSIMILE SIGNATURES SO LONG AS AT LEAST ONE MANUAL SIGNATURE APPEARS ON THE BONDS, WHICH MAY BE EITHER OF AN OFFICER OF THE AUTHORITY OR OF AN AGENT AUTHENTICATING THE SAME;
(l) CONTAIN SUCH PROVISIONS NOT INCONSISTENT WITH THIS ARTICLE.
(7) THE AUTHORITY MAY PURCHASE ITS BONDS OUT OF ANY AVAILABLE REVENUES AND MAY HOLD, PLEDGE, CANCEL, OR RESELL THE BONDS SUBJECT TO AND IN ACCORDANCE WITH AGREEMENTS WITH THE HOLDERS THEREOF.
29­25­114. Cooperative powers. (1) THE AUTHORITY HAS THE POWER TO COOPERATE WITH ANY PERSON:
(a) TO ACCEPT CONTRIBUTIONS, LOANS, ADVANCES, OR LIENS SECURING OBLIGATIONS TO OR OF THE AUTHORITY FROM ANY PERSON WITH RESPECT TO THE PERFORMANCE OF A HIGHWAY CONSTRUCTION PROJECT AND IN CONNECTION WITH ANY LOAN OR ADVANCE TO ENTER INTO CONTRACTS ESTABLISHING THE REPAYMENT TERMS;
(b) TO ENTER INTO CONTRACTS WITH RESPECT TO AND TO COOPERATE IN THE PERFORMANCE OF HIGHWAY CONSTRUCTION PROJECTS;
(c) TO ENTER INTO JOINT OPERATING CONTRACTS CONCERNING A HIGHWAY CONSTRUCTION PROJECT;
(d) TO ACQUIRE EASEMENTS OR RIGHTS­OF­WAY FOR A HIGHWAY CONSTRUCTION PROJECT;
(e) TO TRANSFER DOMINION OVER ALL OR ANY PORTION OF A HIGHWAY CONSTRUCTION PROJECT PERFORMED BY THE AUTHORITY TO THE FEDERAL GOVERNMENT, THE STATE GOVERNMENT, OTHER GOVERNMENTAL UNITS, OR ANY PERSON; AND
(f) TO DESIGNATE A HIGHWAY AS PART OF THE FEDERAL HIGHWAY SYSTEM, THE STATE HIGHWAY SYSTEM, A COUNTY HIGHWAY SYSTEM, OR A MUNICIPAL HIGHWAY SYSTEM IF THE PERSON WITH JURISDICTION OVER THE APPLICABLE HIGHWAY SYSTEM CONSENTS TO THE DESIGNATION.
29­25­115. Powers of governmental units. (1) A GOVERNMENTAL UNIT, FOR THE PURPOSE OF AIDING AND COOPERATING IN THE PERFORMANCE OF A HIGHWAY CONSTRUCTION PROJECT BY AN AUTHORITY, HAS THE POWER:
(b) TO ENTER INTO AGREEMENTS WITH ANY PERSON FOR THE JOINT PERFORMANCE OF A HIGHWAY CONSTRUCTION PROJECT. UPON COMPLIANCE WITH APPLICABLE CONSTITUTIONAL OR CHARTER LIMITATIONS, THE GOVERNMENTAL UNIT MAY AGREE TO MAKE PAYMENTS, WITHOUT LIMITATION AS TO AMOUNT EXCEPT AS SET FORTH IN THE AGREEMENT, FROM REVENUES FROM ONE OR MORE FISCAL YEARS, TO THE AUTHORITY OR ANY PERSON TO DEFRAY THE COSTS OF THE PERFORMANCE OF A HIGHWAY CONSTRUCTION PROJECT.
(c) TO TRANSFER OR ASSIGN TO THE AUTHORITY ANY CONTRACTS THAT MAY HAVE BEEN AWARDED BY THE GOVERNMENTAL UNIT FOR THE PERFORMANCE OF A HIGHWAY CONSTRUCTION PROJECT.
(2) TO ASSIST IN THE PERFORMANCE OF A HIGHWAY CONSTRUCTION PROJECT, ANY GOVERNMENTAL UNIT MAY, BY CONTRACT, PLEDGE TO THE AUTHORITY ALL OR A PORTION OF THE REVENUES IT RECEIVES FROM THE HIGHWAY USERS TAX FUND OR FROM ANY OTHER SOURCE; EXCEPT THAT THE USE OF ANY REVENUES FROM THE HIGHWAY USERS TAX FUND IS SUBJECT TO THE LIMITATIONS PROVIDED IN SECTION 18 OF ARTICLE X OF THE STATE CONSTITUTION. THE AUTHORITY SHALL APPLY REVENUES THAT IT RECEIVES PURSUANT TO THE PLEDGE TO THE PERFORMANCE OF A HIGHWAY CONSTRUCTION PROJECT. THE AUTHORITY MAY REFUSE TO ACCEPT ANY REVENUES THAT WOULD CAUSE A MEMBER OF THE COMBINATION TO EXCEED ITS ALLOWABLE FISCAL YEAR SPENDING UNDER SECTION 20 OF ARTICLE X OF THE STATE CONSTITUTION AND THAT COULD RESULT IN A REFUND OF EXCESS REVENUES UNDER SAID SECTION 20.
29­25­116. Referendum. (1) NO ACTION BY AN AUTHORITY TO ESTABLISH OR INCREASE ANY TAX AUTHORIZED BY THIS ARTICLE SHALL TAKE EFFECT UNLESS FIRST SUBMITTED TO A VOTE OF THE REGISTERED ELECTORS OF THAT PORTION OF THE COMBINATION IN WHICH THE TAX IS PROPOSED TO BE COLLECTED.
(2) NO ACTION BY AN AUTHORITY CREATING A MULTIPLE FISCAL YEAR DEBT OR OTHER FINANCIAL OBLIGATION THAT IS SUBJECT TO SECTION 20 (4) (b) OF ARTICLE X OF THE STATE CONSTITUTION SHALL TAKE EFFECT UNLESS FIRST SUBMITTED TO A VOTE OF THE REGISTERED ELECTORS RESIDING WITHIN THE BOUNDARIES OF THE AUTHORITY.
29­25­117. Notice to municipalities ­ opportunity for comment. THE BOARD OF ANY AUTHORITY CREATED PURSUANT TO THIS ARTICLE, AT LEAST FORTY­FIVE DAYS PRIOR TO ANY MEETING AT WHICH THE BOARD SHALL CONSIDER OR TAKE ACTION ON A PROPOSAL TO ESTABLISH, INCREASE, OR DECREASE ANY TAX OR FEE AUTHORIZED BY THIS ARTICLE, SHALL DELIVER WRITTEN NOTICE OF THE MEETING AND PROPOSAL TO ANY MUNICIPALITY, COUNTY, OR SPECIAL DISTRICT WHERE THE PROPOSED TAX OR FEE WOULD BE IMPOSED. PRIOR TO THE TAKING OF ANY ACTION ON ANY SUCH PROPOSAL BY THE BOARD OF ANY AUTHORITY, MUNICIPALITIES, COUNTIES, AND SPECIAL DISTRICTS ENTITLED TO RECEIVE NOTICE PURSUANT TO THIS SECTION SHALL BE AFFORDED A REASONABLE OPPORTUNITY FOR COMMENT, EITHER AT A REGULAR MEETING OF THE BOARD OR AT A SPECIAL MEETING CONVENED TO RECEIVE SUCH COMMENT.
29­25­118. Notice ­ coordination of information ­ reports. (1) (a) AT LEAST FORTY­FIVE DAYS PRIOR TO THE CREATION OF ANY AUTHORITY OR VALUE CAPTURE AREA PURSUANT TO THIS ARTICLE, A NOTICE CONTAINING THE PROPOSED BOUNDARIES OF THE AUTHORITY OR VALUE CAPTURE AREA, WHICHEVER IS APPLICABLE, AND THE METHODS PROPOSED FOR FINANCING HIGHWAY CONSTRUCTION PROJECTS IN THE AUTHORITY OR A COPY OF THE VALUE CAPTURE PLAN, WHICHEVER IS APPLICABLE, SHALL BE SENT TO THE DIVISION, TO THE DEPARTMENT OF REVENUE, AND TO THE CHAIR OF THE TRANSPORTATION LEGISLATION REVIEW COMMITTEE CREATED IN SECTION 43­2­145, C.R.S.
(b) AT LEAST FORTY­FIVE DAYS PRIOR TO THE IMPOSITION OF OR ANY INCREASE IN ANY FEE OR TAX OR PRIOR TO THE ISSUANCE OF ANY BONDS AUTHORIZED IN THIS ARTICLE, A NOTICE SPECIFYING THE AMOUNT OF THE FEE OR TAX AND ITS PROPOSED DURATION OR THE VALUE AND NUMBER OF BONDS TO BE ISSUED SHALL BE SENT TO THE DIVISION. THE NOTICE REQUIRED BY THIS PARAGRAPH (b) IS NOT NECESSARY IF THE REQUIRED INFORMATION HAS PREVIOUSLY BEEN PROVIDED IN THE NOTICE REQUIRED BY PARAGRAPH (a) OF THIS SUBSECTION (1).
(c) AT THE TIME THE NOTICE REQUIRED IN PARAGRAPH (a) OR (b) OF THIS SUBSECTION (1) IS SENT TO THE DIVISION, A COPY OF THE NOTICE SHALL BE FILED WITH THE GENERAL ASSEMBLY.
(2) THE DIVISION SHALL FORWARD COPIES OF ANY SUCH NOTICE TO THE DEPARTMENT OF TRANSPORTATION IF THE DIVISION DETERMINES THAT THE PROPOSED AUTHORITY OR VALUE CAPTURE AREA OR THE TAX, FEE, OR BONDS WILL HAVE AN IMPACT ON ANY OPERATIONS OF THAT DEPARTMENT.
(3) (a) THE DIVISION SHALL FILE AN ANNUAL REPORT WITH THE GENERAL ASSEMBLY CONCERNING THE ACTIVITIES OF AUTHORITIES CREATED PURSUANT TO THIS ARTICLE. THE REPORT SHALL DETAIL HOW MANY AUTHORITIES HAVE BEEN CREATED, DESCRIBE THEIR BOUNDARIES, AND SPECIFY THE HIGHWAY CONSTRUCTION PROJECTS THAT ARE BEING PROVIDED AND HOW THEY ARE BEING FINANCED.
(b) THE DIVISION SHALL NOTIFY THE GENERAL ASSEMBLY EITHER IN THE REPORT REQUIRED BY PARAGRAPH (a) OF THIS SUBSECTION (3) OR BY LETTER IF IT DEEMS THAT IMMEDIATE NOTIFICATION IS WARRANTED OF ANY SITUATION RELATING TO THE CREATION OF AN AUTHORITY OR VALUE CAPTURE AREA, THE IMPOSITION OF ANY FEE OR TAX, OR THE ISSUANCE OF ANY BONDS BY AN AUTHORITY THAT THE DIVISION BELIEVES OR HAS REASON TO BELIEVE WILL ADVERSELY AFFECT THE TAX­RAISING ABILITY OR THE CREDIT OR BOND RATING OF ANY GOVERNMENTAL UNIT.
29­25­119. Agreement of the state not to limit or alter rights of obligees. THE STATE HEREBY PLEDGES AND AGREES WITH THE HOLDERS OF ANY BONDS ISSUED UNDER THIS ARTICLE AND WITH THOSE PARTIES WHO ENTER INTO CONTRACTS WITH AN AUTHORITY OR ANY MEMBER OF THE COMBINATION PURSUANT TO THIS ARTICLE THAT THE STATE SHALL NOT IMPAIR THE RIGHTS VESTED IN THE AUTHORITY OR THE RIGHTS OR OBLIGATIONS OF ANY PERSON WITH WHICH THE AUTHORITY CONTRACTS TO FULFILL THE TERMS OF ANY AGREEMENTS MADE PURSUANT TO THIS ARTICLE. THE STATE FURTHER AGREES THAT IT WILL NOT IMPAIR THE RIGHTS OR REMEDIES OF THE HOLDERS OF ANY BONDS OF THE AUTHORITY UNTIL THE BONDS HAVE BEEN PAID OR UNTIL ADEQUATE PROVISION FOR PAYMENT HAS BEEN MADE. THE AUTHORITY MAY INCLUDE THIS PROVISION AND UNDERTAKING FOR THE STATE IN SUCH BONDS.
29­25­120. Investments. AN AUTHORITY MAY INVEST OR DEPOSIT ANY FUNDS IN THE MANNER PROVIDED BY PART 6 OF ARTICLE 75 OF TITLE 24, C.R.S. IN ADDITION, AN AUTHORITY MAY DIRECT A CORPORATE TRUSTEE THAT HOLDS FUNDS OF THE AUTHORITY TO INVEST OR DEPOSIT THE FUNDS IN INVESTMENTS OR DEPOSITS OTHER THAN THOSE SPECIFIED BY SAID PART 6 IF THE BOARD DETERMINES, BY RESOLUTION, THAT THE INVESTMENT OR DEPOSIT MEETS THE STANDARD ESTABLISHED IN SECTION 15­1­304, C.R.S., THE INCOME IS AT LEAST COMPARABLE TO INCOME AVAILABLE ON INVESTMENTS OR DEPOSITS SPECIFIED BY SAID PART 6, AND THE INVESTMENT WILL ASSIST THE AUTHORITY IN THE PERFORMANCE OF HIGHWAY CONSTRUCTION PROJECTS.
29­25­121. Bonds eligible for investment. ALL BANKS, TRUST COMPANIES, SAVINGS AND LOAN ASSOCIATIONS, INSURANCE COMPANIES, EXECUTORS, ADMINISTRATORS, GUARDIANS, TRUSTEES, AND OTHER FIDUCIARIES MAY LEGALLY INVEST ANY MONEYS WITHIN THEIR CONTROL IN ANY BONDS ISSUED UNDER THIS ARTICLE. PUBLIC ENTITIES, AS DEFINED IN SECTION 24­75­601 (1), C.R.S., MAY INVEST PUBLIC FUNDS IN THE BONDS ONLY IF THE BONDS SATISFY THE INVESTMENT REQUIREMENTS ESTABLISHED IN PART 6 OF ARTICLE 75 OF TITLE 24, C.R.S.
29­25­122. Exemption from taxation ­ securities laws. THE INCOME OR OTHER REVENUES OF AN AUTHORITY, ALL PROPERTIES AT ANY TIME OWNED BY AN AUTHORITY, ANY BONDS ISSUED BY AN AUTHORITY, AND THE TRANSFER OF AND THE INCOME FROM ANY BONDS ISSUED BY AN AUTHORITY ARE EXEMPT FROM ALL TAXATION AND ASSESSMENTS IN THE STATE. IN THE RESOLUTION OR INDENTURE AUTHORIZING THE BONDS, AN AUTHORITY MAY WAIVE THE EXEMPTION FROM FEDERAL INCOME TAXATION FOR INTEREST ON THE BONDS. BONDS ISSUED BY AN AUTHORITY ARE EXEMPT FROM THE PROVISIONS OF ARTICLE 51 OF TITLE 11, C.R.S.
29­25­123. No action maintainable. AN ACTION OR PROCEEDING AT LAW OR IN EQUITY TO REVIEW ANY ACTS OR PROCEEDINGS OR TO QUESTION THE VALIDITY OR ENJOIN THE PERFORMANCE OF ANY ACT OR PROCEEDINGS OR THE ISSUANCE OF ANY BONDS OR FOR ANY OTHER RELIEF AGAINST OR FROM ANY ACTS OR PROCEEDINGS DONE UNDER THIS ARTICLE, WHETHER BASED UPON IRREGULARITIES OR JURISDICTIONAL DEFECTS, SHALL NOT BE MAINTAINED UNLESS COMMENCED WITHIN THIRTY DAYS AFTER THE PERFORMANCE OF THE ACT OR PROCEEDINGS OR THE EFFECTIVE DATE THEREOF, WHICHEVER OCCURS FIRST, AND IS THEREAFTER PERPETUALLY BARRED.
29­25­124. Termination of revenue­raising powers. EXCEPT AS PROVIDED IN SECTION 29­25­109, WHEN ALL BONDS AND OBLIGATIONS OF AN AUTHORITY HAVE BEEN PAID IN FULL AND THE AUTHORITY HAS ESTABLISHED A MAINTENANCE TRUST FUND SUFFICIENT TO MEET FUTURE NEEDS OF THE AUTHORITY PURSUANT TO SECTION 29­25­125, ALL REVENUE­RAISING POWERS GRANTED PURSUANT TO THIS ARTICLE SHALL TERMINATE.
29­25­125. Maintenance trust fund. WHEN ALL BONDS AND OBLIGATIONS OF AN AUTHORITY HAVE BEEN PAID IN FULL, THE AUTHORITY SHALL ESTABLISH A MAINTENANCE TRUST FUND SUFFICIENT TO MEET THE FUTURE NEEDS OF THE AUTHORITY, AS DETERMINED BY THE BOARD.
29­25­126. Judicial examination of powers, acts, proceedings, or contracts of an authority. IN ITS DISCRETION, THE BOARD OF AN AUTHORITY MAY FILE A PETITION AT ANY TIME IN THE DISTRICT COURT IN AND FOR ANY COUNTY IN WHICH THE AUTHORITY IS LOCATED WHOLLY OR IN PART PRAYING FOR A JUDICIAL EXAMINATION AND DETERMINATION OF ANY POWER CONFERRED TO THE AUTHORITY, ANY REVENUE­RAISING POWER EXERCISED OR TO BE EXERCISED BY THE AUTHORITY, OR ANY ACT, PROCEEDING, OR CONTRACT OF THE AUTHORITY, WHETHER OR NOT THE CONTRACT HAS BEEN EXECUTED. THE JUDICIAL EXAMINATION AND DETERMINATION SHALL BE CONDUCTED IN SUBSTANTIALLY THE MANNER SET FORTH IN SECTION 32­4­540, C.R.S.; EXCEPT THAT THE NOTICE REQUIRED SHALL BE PUBLISHED ONCE A WEEK FOR THREE CONSECUTIVE WEEKS AND THE HEARING SHALL BE HELD NOT LESS THAN THIRTY DAYS OR MORE THAN FORTY DAYS AFTER THE FILING OF THE PETITION.
42­4­613. Failure to pay toll established by highway authority. (1) ANY PERSON WHO FAILS TO PAY A REQUIRED FEE, TOLL, RATE, OR CHARGE ESTABLISHED BY A HIGHWAY AUTHORITY CREATED PURSUANT TO ARTICLE 25 OF TITLE 29, C.R.S., FOR THE PRIVILEGE OF TRAVELING ON OR USING ANY PROPERTY INCLUDED IN A HIGHWAY CONSTRUCTED BY AN AUTHORITY PURSUANT TO ARTICLE 25 OF TITLE 29, C.R.S., COMMITS A CLASS A TRAFFIC INFRACTION.
(2) ANY HIGHWAY AUTHORITY MAY PROMULGATE RULES GOVERNING THE ENFORCEMENT OF THIS SECTION BY AUTOMATIC VEHICLE IDENTIFICATION PHOTOGRAPHY OR OTHER TECHNOLOGY NOT INVOLVING A PEACE OFFICER.
SECTION 4. Part 11 of article 1 of title 43, Colorado Revised Statutes, 1993 Repl. Vol., as amended, is amended BY THE ADDITION OF A NEW SECTION to read:
43­1­1103.5. Local highway construction revolving fund. (1) FOR PURPOSES OF ACQUIRING ADDITIONAL REVENUE FOR THE COST OF CONSTRUCTING HIGHWAYS, AS DEFINED IN SECTION 29­25­103 (9), C.R.S., WITHIN THE STATE, THE DEPARTMENT MAY ACCEPT FUNDS FROM ANY LOCAL GOVERNMENTAL ENTITY WITHIN THE STATE FOR A SPECIFIC HIGHWAY CONSTRUCTION PROJECT, WHICH FUNDS SHALL BE DEPOSITED INTO THE LOCAL HIGHWAY CONSTRUCTION REVOLVING FUND CREATED IN SUBSECTION (4) OF THIS SECTION. THE LOCAL GOVERNMENTAL ENTITY MAY RECOMMEND, IN THE REGIONAL TRANSPORTATION PLAN FORMULATED UNDER SECTION 43­1­1103, THE PRIORITY FOR A PARTICULAR HIGHWAY CONSTRUCTION PROJECT AND MAY OFFER TO FINANCE ANY PROPORTION OF THE PROJECT. THE DEPARTMENT MAY PRIORITIZE AND ACCELERATE HIGHWAY CONSTRUCTION PROJECTS ON THE BASIS OF LOCAL PARTICIPATION. IF THE DEPARTMENT ELECTS TO PURSUE THE HIGHWAY CONSTRUCTION PROJECT PROPOSED IN THE REGIONAL TRANSPORTATION PLAN, THE DEPARTMENT MAY CONTRIBUTE MONEYS TO THE LOCAL HIGHWAY CONSTRUCTION REVOLVING FUND TO PARTIALLY FUND THE HIGHWAY CONSTRUCTION PROJECT, SUBJECT TO THE AVAILABILITY OF REVENUES FOR SUCH PURPOSES, IN AN AMOUNT THAT THE DEPARTMENT DEEMS APPROPRIATE. FUNDS CONTRIBUTED BY A LOCAL GOVERNMENTAL ENTITY PURSUANT TO THIS SECTION ARE NOT SUBJECT TO REFUND OR REIMBURSEMENT BY THE DEPARTMENT.
(2) (a) NOTWITHSTANDING THE PROVISIONS OF SUBSECTION (1) OF THIS SECTION, THE DEPARTMENT IS AUTHORIZED TO ADVANCE FUNDS FROM THE LOCAL HIGHWAY CONSTRUCTION REVOLVING FUND CREATED PURSUANT TO SUBSECTION (4) OF THIS SECTION TO LOCAL GOVERNMENTAL ENTITIES FOR ANY HIGHWAY CONSTRUCTION PROJECT, SUBJECT TO THE AVAILABILITY OF REVENUES FOR SUCH PURPOSES AND TO THE REQUIREMENTS OF THIS SECTION.
(b) THE DEPARTMENT SHALL NOT ADVANCE ANY FUNDS PURSUANT TO PARAGRAPH (a) OF THIS SUBSECTION (2) UNLESS:
(I) THE PROPOSED HIGHWAY CONSTRUCTION PROJECT IS CONSISTENT WITH THE APPLICABLE REGIONAL TRANSPORTATION PLAN; AND
(II) THE LOCAL GOVERNMENTAL ENTITY RECEIVING SUCH FUNDS SUBMITS TO THE DEPARTMENT A TWO­YEAR BUDGET DETAILING THE USE OF THE CASH ADVANCE, A REPAYMENT SCHEDULE, AND A PROJECT SCHEDULE CONSISTENT WITH THE BUDGET.
(c) THE DEPARTMENT SHALL NOT ADVANCE AN AMOUNT EXCEEDING FIVE HUNDRED THOUSAND DOLLARS ANNUALLY TO ANY ONE LOCAL GOVERNMENTAL ENTITY PURSUANT TO THIS SUBSECTION (2). ABSENT SPECIFIC APPROPRIATION BY THE GENERAL ASSEMBLY OF A GREATER AMOUNT FROM THE LOCAL HIGHWAY CONSTRUCTION REVOLVING FUND CREATED PURSUANT TO SUBSECTION (4) OF THIS SECTION.
(d) NO LOCAL GOVERNMENTAL ENTITY SHALL BE ELIGIBLE TO RECEIVE ANY ADVANCE UNDER THIS SUBSECTION (2) IF:
(I) THE ENTITY HAS FAILED TO REPAY ANY PREVIOUS ADVANCE AS REQUIRED BY LAW OR BY AGREEMENT WITH THE DEPARTMENT; AND
(II) THE ADVANCE TO SUCH ENTITY WOULD BE IN EXCESS OF THE ENTITY'S ALLOWABLE FISCAL YEAR SPENDING UNDER SECTION 20 OF ARTICLE X OF THE STATE CONSTITUTION AND THAT COULD RESULT IN A REFUND OF EXCESS REVENUE UNDER SAID SECTION 20, UNLESS THE ENTITY RECEIVES VOTER APPROVAL AT A GENERAL ELECTION TO AUTHORIZE THE SPENDING OF REVENUE IN EXCESS OF THE LIMIT PRESCRIBED IN SAID SECTION 20.
(e) REPAYMENTS OF FUNDS ADVANCED SHALL NOT INCLUDE INTEREST; EXCEPT THAT LOCAL GOVERNMENTAL ENTITIES SHALL PAY ANY INTEREST ACCRUED FROM THE INVESTMENT OF ADVANCES TO THE DEPARTMENT.
(f) ANY REPAYMENTS OF ADVANCES MADE PURSUANT TO THIS SUBSECTION (2) THAT WERE USED TO FUND ANY HIGHWAY CONSTRUCTION PROJECT SHALL BE DEPOSITED INTO THE LOCAL HIGHWAY CONSTRUCTION REVOLVING FUND CREATED IN SUBSECTION (4) OF THIS SECTION.
(3) THE DEPARTMENT SHALL PROMULGATE RULES TO ADMINISTER THE PROVISIONS OF THIS SECTION, INCLUDING THE METHOD OF DETERMINING THE SELECTION AND FUNDING OF HIGHWAY CONSTRUCTION PROJECTS AND THE PROCEDURES FOR DISBURSEMENT AND REPAYMENT OF ADVANCES.
(4) THE LOCAL HIGHWAY CONSTRUCTION REVOLVING FUND IS HEREBY CREATED IN THE STATE TREASURY IN ORDER TO PROVIDE FUNDING FOR HIGHWAY CONSTRUCTION PROJECTS WITHIN THE STATE AND FOR THE BENEFIT OF LOCAL GOVERNMENTAL ENTITIES. ANY MONEYS RECEIVED BY THE DEPARTMENT FROM LOCAL GOVERNMENTAL ENTITIES FOR THE FINANCING OF HIGHWAY CONSTRUCTION PROJECTS PURSUANT TO SUBSECTION (1) OF THIS SECTION, ANY CONTRIBUTIONS BY THE DEPARTMENT PURSUANT TO SAID SUBSECTION, AND ANY REPAYMENTS MADE BY A LOCAL GOVERNMENTAL ENTITY UNDER SUBSECTION (2) OF THIS SECTION SHALL BE DEPOSITED INTO THE FUND. ALL MONEYS CREDITED TO THE FUND AND ALL INTEREST EARNED THEREON SHALL BE USED, SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL ASSEMBLY, FOR THE SPECIFIC HIGHWAY CONSTRUCTION PROJECT REQUESTED BY A LOCAL GOVERNMENTAL ENTITY PURSUANT TO SUBSECTION (1) OF THIS SECTION AND SHALL NOT BE DEPOSITED OR TRANSFERRED TO THE GENERAL FUND OR ANY OTHER FUND.