reglab/housing_qa huggingface dataset:
CO Code § 23-15-102 (2021)
2021 Colorado Code|Title 23 - Postsecondary Education|Article 15 - Colorado Educational and Cultural Facilities Authority|§ 23-15-102. Legislative Declaration

  The general assembly hereby finds and declares that:   It is the intent of the general assembly to create the Colorado educational and cultural facilities authority to lend money to educational institutions and cultural institutions; to authorize the authority to acquire, construct, reconstruct, repair, alter, improve, extend, own, lease, and dispose of properties to the end that the authority may be able to promote the welfare of the people of this state; to authorize the authority to administer the Colorado education savings program; to permit the bonds or certificates of participation of the authority and the bonds or certificates of participation of other issuers to be designated as Colorado education savings bonds or certificates; and to vest such authority with powers to enable such authority to accomplish such purposes. It is not the intent of the general assembly to authorize the authority to operate any such educational or cultural facility.    It is important that educational facilities and cultural facilities are made readily available by networks and organizations of educational institutions and cultural institutions regardless of whether such networks and organizations are located within the state of Colorado or have facilities located within or outside the state of Colorado; and    It is a benefit to the people of the state of Colorado to serve multistate educational institutions and cultural institutions since education-related and cultural-related employment opportunities in this state will be created as a result thereof.       This article shall be liberally construed to accomplish the intentions expressed in this section.     History. Source: L. 81: Entire article added, p. 1096, § 1, effective July 1. L. 88: (1) amended, p. 849, § 1, effective April 20. L. 89: (1) amended, p. 986, § 1, effective April 8; (1) amended, p. 982, § 1, effective April 12. L. 98: (1) amended, p. 601, § 1, effective May 4. L. 2000: (1) amended, p. 403, § 1, effective April 13.    Editor's note:   Amendments to subsection (1) in Senate Bill 89-206 and House Bill 89-1049 were harmonized.
CO Code § 23-15-106 (2021)
2021 Colorado Code|Title 23 - Postsecondary Education|Article 15 - Colorado Educational and Cultural Facilities Authority|§ 23-15-106. Meetings of Board - Quorum - Expenses

  Four members of the board shall constitute a quorum for the purpose of conducting business and exercising its powers. Action may be taken by the board upon the affirmative vote of at least four of its members. No vacancy in the membership of the board shall impair the right of a quorum to exercise all the rights and perform all the duties of the board.    Each meeting of the board for any purpose whatsoever shall be open to the public. Notice of meetings shall be as provided in the bylaws of the authority. Resolutions need not be published or posted, but resolutions and all proceedings and other acts of the board shall be a public record.    Members of the board shall receive no compensation for their services but shall be entitled to the necessary expenses, including traveling and lodging expenses, incurred in the discharge of their official duties. Any payments for compensation and expenses shall be paid from funds of the authority.     History. Source: L. 81: Entire article added, p. 1100, § 1, effective July 1.
CO Code § 23-15-108 (2021)
2021 Colorado Code|Title 23 - Postsecondary Education|Article 15 - Colorado Educational and Cultural Facilities Authority|§ 23-15-108. Acquisition of Property

 The authority, directly or by or through a participating educational institution or cultural institution as its agent, may acquire by purchase, lease, gift, devise, or other means such lands, structures, real or personal property, rights-of-way, franchises, easements, and other interests in lands, including lands lying under water and riparian rights which are located within or without the state, as it may deem necessary or convenient for the construction, acquisition, or operation of facilities, upon such terms as may be considered by the authority to be reasonable, and may take title thereto in the name of the authority or in the name of such participating educational institution or cultural institution as its agent.   History. Source: L. 81: Entire article added, p. 1102, § 1, effective July 1. L. 89: Entire section amended, p. 990, § 5, effective April 8. L. 98: Entire section amended, p. 605, § 7, effective May 4.
CO Code § 23-15-109 (2021)
2021 Colorado Code|Title 23 - Postsecondary Education|Article 15 - Colorado Educational and Cultural Facilities Authority|§ 23-15-109. Notes

 The authority may issue from time to time its negotiable notes for any corporate purpose, including the payment of all or any part of the cost of any facility, and may renew from time to time any notes by the issuance of new notes, whether the notes to be renewed have or have not matured. The authority may issue notes partly to renew notes or to discharge other obligations then outstanding and partly for some other purpose. The notes may be authorized, sold, executed, and delivered in the same manner as bonds. Any resolution or resolutions authorizing notes of the authority or any issue thereof may contain any provisions which the authority is authorized to include in any resolution or resolutions authorizing bonds of the authority or any issue thereof, and the authority may include in any notes any terms, covenants, or conditions which it is authorized to include in any bonds. All such notes shall be payable from the proceeds of bonds or renewal notes or from the revenues of the authority or other moneys available therefor and not otherwise pledged, subject only to any contractual rights of the holders of any of its notes or other obligations then outstanding.   History. Source: L. 81: Entire article added, p. 1102, § 1, effective July 1.
CO Code § 23-15-111 (2021)
2021 Colorado Code|Title 23 - Postsecondary Education|Article 15 - Colorado Educational and Cultural Facilities Authority|§ 23-15-111. Negotiability of Bonds

 All bonds and the interest coupons applicable thereto are hereby declared and shall be construed to be negotiable instruments.   History. Source: L. 81: Entire article added, p. 1105, § 1, effective July 1.
CO Code § 23-15-113 (2021)
2021 Colorado Code|Title 23 - Postsecondary Education|Article 15 - Colorado Educational and Cultural Facilities Authority|§ 23-15-113. Personal Liability

 Neither the members of the authority nor any person executing the bonds or notes shall be liable personally on bonds or notes or be subject to any personal liability or accountability by reason of the issuance thereof.   History. Source: L. 81: Entire article added, p. 1107, § 1, effective July 1.
CO Code § 23-15-114 (2021)
2021 Colorado Code|Title 23 - Postsecondary Education|Article 15 - Colorado Educational and Cultural Facilities Authority|§ 23-15-114. Purchase

 The authority may purchase its bonds or notes out of any funds available therefor. The authority may hold, pledge, cancel, or resell such bonds or notes, subject to and in accordance with agreements with bondholders or noteholders.   History. Source: L. 81: Entire article added, p. 1107, § 1, effective July 1.
CO Code § 23-15-115 (2021)
2021 Colorado Code|Title 23 - Postsecondary Education|Article 15 - Colorado Educational and Cultural Facilities Authority|§ 23-15-115. Procedure Before Expenditure of Proceeds

  Notwithstanding any other provisions of this article, the authority may not undertake any facility authorized by this article unless, prior to the expenditure of proceeds, the board finds that:   Such facility will enable or assist an educational institution or a cultural institution to fulfill its obligation to provide facilities; and    In the case of an educational institution, such facility has been reviewed and approved by the commission if such approval is required pursuant to section 23-1-106.        History. Source: L. 81: Entire article added, p. 1107, § 1, effective July 1. L. 84: Entire section amended, p. 637, § 3, effective April 5. L. 89: (1)(a) and (1)(b) amended, p. 991, § 7, effective April 8. L. 98: Entire section amended, p. 606, § 10, effective May 4.
CO Code § 23-15-116 (2021)
2021 Colorado Code|Title 23 - Postsecondary Education|Article 15 - Colorado Educational and Cultural Facilities Authority|§ 23-15-116. Trust Agreement to Secure Bonds

 In the discretion of the authority, any bonds issued pursuant to this article may be secured by a trust agreement between the authority and a corporate trustee or trustees, which may be any trust company or bank having the powers of a trust company in Colorado. Such trust agreement or the resolution providing for the issuance of such bonds may pledge or assign the revenues to be received or the proceeds of any contract or contracts pledged and may convey or mortgage the facilities or any portion thereof. Such trust agreement or resolution providing for the issuance of such bonds may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable, proper, and not in violation of law, including particularly such provisions as have been specifically authorized to be included in any resolution or resolutions of the authority authorizing bonds thereof. Any bank or trust company incorporated under the laws of this state which may act as depository of the proceeds of bonds or of revenues or other moneys may furnish such indemnifying bonds or pledge such securities as may be required by the authority. Any such trust agreement may set forth the rights and remedies of the bondholders and of the trustee or trustees and may restrict the individual right of action by bondholders. In addition, any such trust agreement or resolution may contain such other provisions as the authority may deem reasonable and proper for the security of the bondholders. All expenses incurred in carrying out such trust agreement or resolution may be treated as a part of the cost of the operation of a facility.   History. Source: L. 81: Entire article added, p. 1107, § 1, effective July 1.
CO Code § 23-15-118 (2021)
2021 Colorado Code|Title 23 - Postsecondary Education|Article 15 - Colorado Educational and Cultural Facilities Authority|§ 23-15-118. Exemption From Taxation and Securities Law

 The authority is hereby declared to be a public instrumentality of the state, performing a public function for the benefit of the people of the state for the improvement of their welfare and educational and cultural opportunities. Accordingly, the income or other revenues of the authority, all properties at any time owned by the authority, any bonds, notes, or other obligations issued pursuant to this article and the transfer thereof and the income therefrom (including any profit made on the sale thereof), and all mortgages, leases, trust indentures, and other documents issued in connection therewith shall be exempt at all times from all taxation and assessments in the state of Colorado. Bonds issued by the authority shall also be exempt from the “Colorado Securities Act”, article 51 of title 11, C.R.S.   History. Source: L. 81: Entire article added, p. 1108, § 1, effective July 1. L. 89: Entire section amended, p. 992, § 9, effective April 8. L. 90: Entire section amended, p. 740, § 5, effective July 1. L. 98: Entire section amended, p. 607, § 12, effective May 4.
CO Code § 23-15-119 (2021)
2021 Colorado Code|Title 23 - Postsecondary Education|Article 15 - Colorado Educational and Cultural Facilities Authority|§ 23-15-119. Rents and Charges

 A sufficient amount of the revenues derived with respect to a facility, except such part of such revenues as may be necessary to pay the cost of maintenance, repair, and operation and to provide reserves and for renewals, replacements, extensions, enlargements, and improvements provided for in the resolution authorizing the issuance of any bonds or notes of the authority or in the trust agreement securing the same, shall be set aside at such regular intervals as may be provided in such resolution or trust agreement in a sinking or other similar fund which is hereby pledged to and charged with the payment of the principal of and the interest on such bonds or notes as the same become due and the redemption price or the purchase price of bonds retired by call or purchase as therein provided. Such pledge shall be valid and binding at the time the pledge is made and thereafter until satisfied, and the rates, rents, fees, charges, and other revenues or other moneys so pledged and thereafter received by the authority shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act; and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort or contract or in any other form against the authority, irrespective of whether such parties have notice thereof. Neither the bond resolution, any trust agreement, any other agreement, nor any lease by which a pledge is created need be filed or recorded except in the records of the authority. The use and disposition of moneys to the credit of such sinking or other similar fund shall be subject to the resolution authorizing the issuance of such bonds or notes or to such trust agreement. Except as may be otherwise provided in such resolution or such trust agreement, such sinking or other similar fund may be a fund for all such bonds or notes issued to finance facilities at a particular educational institution or cultural institution without distinction or priority of one over another; except that the authority in any such resolution or trust agreement may provide that such sinking or other similar fund shall be the fund for a particular facility at an educational institution or a cultural institution and for the bonds issued to finance a particular facility and, additionally, may permit and provide for the issuance of bonds having a lien with respect to the security authorized which is subordinate to other bonds of the authority, and, in such case, the authority may create separate sinking or other similar funds with respect to such subordinate lien bonds.   History. Source: L. 81: Entire article added, p. 1109, § 1, effective July 1. L. 89: Entire section amended, p. 992, § 10, effective April 8. L. 98: Entire section amended, p. 608, § 13, effective May 4.
CO Code § 23-15-120 (2021)
2021 Colorado Code|Title 23 - Postsecondary Education|Article 15 - Colorado Educational and Cultural Facilities Authority|§ 23-15-120. Fees

  All expenses of the authority incurred in carrying out the provisions of this article shall be payable solely from funds provided pursuant to this article, and no liability shall be incurred by the authority beyond the moneys which are provided pursuant to this article; except that, for the purposes of meeting the necessary expenses of initial organization and operation until such date as the authority derives moneys from funds provided pursuant to this article, the authority may borrow such moneys as may be required for the necessary expenses of organization and operation. Such borrowed moneys shall be repaid within a reasonable time after the authority receives funds provided pursuant to this article.    Nothing in this article shall be construed to imply mandatory participation by an educational institution or a cultural institution. An initial planning service fee in an amount determined by the authority shall be paid to the authority by each participating educational institution or cultural institution that applies for financial assistance to provide for its facilities. Such initial planning service fees shall be included in the cost of the facilities to be financed and shall not be refundable by the authority, whether or not any such application is approved or, if approved, whether or not such financial assistance is accomplished. In addition to such initial fee, an annual planning service fee shall be paid to the authority by each participating educational institution or cultural institution in an amount determined by the authority. Such fees shall be paid on said dates or in such installments as may be satisfactory to the authority. Such fees may be used for:   Necessary expenses to determine the need for facilities;    Necessary administrative expenses; and    Reserves for anticipated future expenses.       In addition, the authority may retain, for a negotiated fee, the services of any other public or private person, firm, partnership, association, or corporation for the furnishing of services and data for use by the authority in determining the need and location of any such facilities for which application is being made or for such other services or surveys as the authority deems necessary to carry out the purposes of this article.    The authority may charge a reasonable fee to cover expenses incurred by the authority in connection with the review of an application by an issuer other than the authority for designation of bonds or certificates as Colorado education savings bonds or certificates pursuant to section 23-15-110.5. Such fee may also be used to cover a portion of the cost to the authority of administering the program.     History. Source: L. 81: Entire article added, p. 1109, § 1, effective July 1. L. 89: IP(2) amended, p. 993, § 11, effective April 8; (4) added, p. 984, § 5, effective April 12. L. 98: IP(2) amended, p. 608, § 14, effective May 4.
CO Code § 23-15-121 (2021)
2021 Colorado Code|Title 23 - Postsecondary Education|Article 15 - Colorado Educational and Cultural Facilities Authority|§ 23-15-121. Conveyance of Title - Release of Lien

 When the principal of and interest on bonds issued by the authority to finance the cost of facilities or to refinance the outstanding indebtedness of one or more participating educational institutions or cultural institutions, including any refunding bonds issued to refund and refinance such bonds, have been fully paid and retired or when adequate provision has been made to fully pay and retire the same and when all other conditions of the resolution, the lease, the trust indenture, and the mortgage, deed of trust, or other form of security arrangement, if any, authorizing and securing the same have been satisfied, the authority shall promptly do all things and execute such deeds, conveyances, and other documents as are necessary and required to release the lien of such mortgage, deed of trust, or other form of security arrangement in accordance with the provisions thereof and to convey its right, title, and interest in such facilities so financed, and any other facilities leased or mortgaged or subject to a deed of trust or any other form of security arrangement to secure the bonds, to such participating educational institution or cultural institution.   History. Source: L. 81: Entire article added, p. 1110, § 1, effective July 1. L. 89: Entire section amended, p. 993, § 12, effective April 8. L. 98: Entire section amended, p. 609, § 15, effective May 4.
CO Code § 23-15-122 (2021)
2021 Colorado Code|Title 23 - Postsecondary Education|Article 15 - Colorado Educational and Cultural Facilities Authority|§ 23-15-122. Investment of Funds

 The authority may invest the proceeds from the sale of a series of bonds or any funds related to the series in such securities and other investments, whether or not any such investment or reinvestment is authorized under any other law of this state, as may be provided in the proceedings under which the series of bonds are authorized to be issued, including but not limited to the following: Bonds or other obligations of the United States; bonds or other obligations, the payment of the principal and interest of which is unconditionally guaranteed by the United States; obligations issued or guaranteed as to principal and interest by any agency or person controlled or supervised by and acting as an instrumentality of the United States pursuant to authority granted by the congress of the United States; obligations issued or guaranteed by any state of the United States or any political subdivision of any such state; prime commercial paper; prime finance company paper; bankers' acceptances drawn on and accepted by commercial banks; repurchase agreements fully secured by obligations issued or guaranteed as to principal and interest by the United States or by any person controlled or supervised by and acting as an instrumentality of the United States pursuant to authority granted by the congress of the United States; or certificates of deposit or time deposits issued by commercial banks or savings and loan associations that are insured by the federal deposit insurance corporation or its successor. The authority may invest any other funds in the securities as provided in this section and with such maturities as the authority shall determine if such maturities are on a date or dates prior to the time that, in the judgment of the authority, the funds so invested will be required for expenditure. The express judgment of the authority as to the time that any funds will be required for expenditure or be redeemable is final and conclusive.   History. Source: L. 81: Entire article added, p. 1110, § 1, effective July 1. L. 83: Entire section R&RE, p. 805, § 5, effective May 25. L. 2004: Entire section amended, p. 153, § 66, effective July 1.
CO Code § 23-15-123 (2021)
2021 Colorado Code|Title 23 - Postsecondary Education|Article 15 - Colorado Educational and Cultural Facilities Authority|§ 23-15-123. Proceeds as Trust Funds

 All moneys received pursuant to this article, whether as proceeds from the sale of bonds, notes, or other obligations or as revenues or receipts, shall be deemed to be trust funds to be held and applied solely as provided in this article. Any officer, bank, or trust company with which such moneys are deposited shall act as trustee of such moneys and shall hold and apply the same for the purposes of this article, subject to such regulations as this article and the resolution authorizing the bonds, notes, or other obligations of any issue or the trust agreement securing such obligations shall provide.   History. Source: L. 81: Entire article added, p. 1111, § 1, effective July 1.