reglab/statecodes huggingface dataset:
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 42 - Bonded Indebtedness (§§ 22-42-101 — 22-42-129) › Section 22-42-128 - Effect of article X, section 20 on bonded indebtedness authorized prior to November 4, 1992

(1)
The general assembly hereby finds and declares that:
(a)
Section 20 (4) of article X of the state constitution provides that, beginning on November 4, 1992, school districts must have voter approval in advance for increases in bonded indebtedness and property tax mill levies;
(b)
A sizeable amount of bonded indebtedness had been authorized by school district electors at elections held pursuant to section
22-42-102
prior to the adoption of section 20 of article X;
(c)
In approving the question of incurring bonded indebtedness, the voters acknowledged that the board of education of the school district would annually certify the amount needed for its bond redemption fund to make principal and interest payments on the bonds, that a property tax would be levied annually to produce such certified amount, and that the property tax mill levy would be raised or lowered annually to produce such certified amount;
(d)
Once bonded indebtedness was incurred, the voters of the district, as well as the bondholders, had a reasonable expectation that further voter approval would not be required;
(e)
The purpose of section 20 (4) of article X is to allow the electors of school districts to have a voice in bonded indebtedness increases and property tax mill levy increases;
(f)
The purpose of section 20 (4) has already been fully satisfied because the question of incurring bonded indebtedness, and the method for paying such indebtedness through an adjustment to the property tax mill levy, has already been approved by the voters at elections held prior to November 4, 1992; and
(g)
The purpose of section 20 (4) would not be further satisfied by requiring voter approval each time the mill levy needs to be adjusted to produce the revenue necessary to pay school district bonded indebtedness authorized at elections held prior to November 4, 1992.
(2)
Bonded indebtedness authorized at elections held pursuant to section
22-42-102
prior to November 4, 1992, or the refunding of such bonded indebtedness, which involve a property tax mill levy or a pledge of a property tax mill levy pursuant to section
22-42-118
to provide revenues to the school district to make bonded indebtedness payments or to cover default or deficiencies in bonded indebtedness payments, is not affected or impaired by the passage of section 20 of article X of the state constitution.
L. 94: Entire section added, p. 456, § 1, effective March 21.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 42 - Bonded Indebtedness (§§ 22-42-101 — 22-42-129) › Section 22-42-129 - Limitation on actions

No action shall be brought questioning the legality of any bonds or loans authorized by this title or any resolution, proceeding, or contract in connection with such bonds or loans on and after thirty days from the effective date of the resolution authorizing the issuance of such bonds or the execution of any loan agreement.
L. 2000: Entire section added, p. 520, § 3, effective August 2.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 43 - Refunding Bonds (§§ 22-43-101 — 22-43-110) › Section 22-43-101 - Definitions

As used in this article, unless the context otherwise requires:
(1)
"Board of education" or "board" means the governing body authorized by law to administer the affairs of any school district.
(1.5)
Repealed.
(2)
"Net effective interest rate" of a proposed issue of refunding bonds means the net interest cost of said refunding issue divided by the sum of the products derived by multiplying the principal amounts of such refunding issue maturing on each maturity date by the number of years from the date of said proposed refunding bonds to their respective maturities. "Net effective interest rate" of an outstanding issue of bonds to be refunded means the net interest cost of said issue to be refunded divided by the sum of the products derived by multiplying the principal amounts of such issue to be refunded maturing on each maturity date by the number of years from the date of the proposed refunding bonds to the respective maturities of the bonds to be refunded. In all cases the net effective interest rate shall be computed without regard to any option of redemption prior to the designated maturity dates of the bonds.
(3)
"Net interest cost" of a proposed issue of refunding bonds means the total amount of interest to accrue on said refunding bonds from their date to their respective maturities, less the amount of any premium above par at which said refunding bonds are being or have been sold. "Net interest cost" of an outstanding issue of bonds to be refunded means the total amount of interest which would accrue on said outstanding bonds from the date of the proposed refunding bonds to the respective maturity dates of said outstanding bonds to be refunded. In all cases the net interest cost shall be computed without regard to any option of redemption prior to the designated maturity dates of the bonds.
(4)
"School district" or "district" means a school district organized and existing pursuant to law or a joint taxation district organized and existing pursuant to part 2 of article
30
of this title.
L. 64: R&RE, p. 558, § 3. C.R.S. 1963: § 123-12-1. L. 75: (1.5) added, p. 704, § 1, effective March 3; (4) amended, p. 787, § 9, effective July 1. L. 89: (1.5) repealed, p. 1135, § 85, effective July 1. L. 96: (4) amended, p. 66, § 24, effective July 1.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 43 - Refunding Bonds (§§ 22-43-101 — 22-43-110) › Section 22-43-102 - Refunding bonds may be issued

(1)
Any school district in this state may issue negotiable coupon bonds to be denominated refunding bonds for the purpose of refunding any of the bonded indebtedness of such district, whether said indebtedness is due or not due, or has or may hereafter become payable or redeemable at the option of such district, or by consent of the bondholders, or by any lawful means, whether such bonded indebtedness be now existing or may hereafter be created.
(2)
The bonded indebtedness of any district outstanding at the time of the inclusion of all such district's territory in another district, by reorganization, consolidation, dissolution, or any other lawful means, may be refunded by action of the board of the district including such territory at the time of such refunding, whether or not such indebtedness has been assumed by the district including such territory.
(3)
When an entire district having outstanding bonded indebtedness has been divided and parts thereof included within two or more other districts by any lawful means, the refunding of such indebtedness shall require affirmative action by a majority of the members of the boards of each of the districts within which any part of the territory of such district owing said indebtedness is then included, except as is provided in this article to the contrary.
(4)
The bonded indebtedness of any school district outstanding at the time any territory of said district is detached therefrom by any lawful means, and which district has retained its lawful corporate existence subsequent to the detachment of such territory from said district, may be refunded by action of the board of such district from which territory has been detached with or without concurrence or action by the board of the district within which said detached territory is included, and such districts from which territory has been detached and which retain their corporate existence subsequent to detachment are specifically exempted from the requirements and provisions of subsection (3) of this section.
(5)
Any such refunding bonds may be issued to refund any issues of outstanding bonds; but no two or more issues of outstanding bonds may be refunded by a single issue of refunding bonds unless the taxable property upon which tax levies are being made for payment of each such outstanding issue of bonds is identical to the taxable property on which such levies are being made for the payment of all other outstanding bonds proposed to be refunded by such single issue of refunding bonds.
(6)
Repealed.
L. 64: R&RE, p. 559, § 3. C.R.S. 1963: § 123-12-2. L. 83: (6) added, p. 760, § 2, effective May 26.
Subsection (6)(b) provided for the repeal of subsection (6), effective July 1, 1986. (See L. 83, p. 760.)
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 43 - Refunding Bonds (§§ 22-43-101 — 22-43-110) › Section 22-43-103 - Question of issuing refunding bonds

(1)
Whenever the board of education of any school district deems it expedient to issue refunding bonds under the provisions of this article and the net effective interest rate and the net interest cost of said issue of refunding bonds shall not exceed the net effective interest rate and the net interest cost of the outstanding bonds to be refunded, such refunding bonds may be issued without the submission of the question of issuing the same at an election held in accordance with article
42
of this title. If two or more issues of outstanding bonds of a school district are to be refunded by the issuance of a single issue of refunding bonds, as provided in section
22-43-102(5)
, the net interest cost and net effective interest rate on the bonds to be refunded shall be computed as if all of said bonds had originally been combined as a single issue aggregating the total of the smaller issues, and the results of this computation shall be compared with the net interest cost and net effective interest rate on the whole of the single refunding issue for purposes of determining the necessity of submitting the question of issuing such refunding bonds at an election held in accordance with article
42
of this title.
(2)
If any district proposes to issue refunding bonds, on which issue the net interest cost or net effective interest rate exceeds the net interest cost or net effective interest rate of the outstanding bonds to be refunded, the board shall submit the question of issuing such refunding bonds and the maximum net interest cost and maximum net effective interest rate at which such refunding bonds may be issued at the regular biennial school election or at a special election called for that purpose. Any such election shall be called and held as nearly as may be in the manner provided by law for elections on the question of the issuance of other school bonds of the issuing district.
L. 64: R&RE, p. 560, § 3. C.R.S. 1963: § 123-12-3. L. 70: p. 337, § 13.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 43 - Refunding Bonds (§§ 22-43-101 — 22-43-110) › Section 22-43-104 - Authorization - form - interest

(1)
Such refunding bonds shall be authorized by a resolution fixing the date, the denominations, the rate of interest on individual bonds, the maturity dates which shall not be more than twenty-five years after the date of such refunding bonds, and the place of payment within or without the state of Colorado, of both principal and interest, and prescribing the form of such refunding bonds. Such bonds shall be negotiable in form and executed in the same manner as prescribed for other school district bonds. At the discretion of the board, any such bonds may be issued with privileges for registration for payment as to principal or interest, or both.
(2)
The interest accruing on such refunding bonds may be evidenced by interest coupons thereto attached in substantially the same form as prescribed for other school district bonds, and, when so executed, such coupons shall be the binding obligations of the district according to their import. Such refunding bonds shall mature serially, commencing not later than five years after the date of such bonds and maturing during a period not exceeding twenty-five years after the date thereof. The amount of such maturities shall be fixed by the board of education and specified in the resolution authorizing the issuance of the refunding bonds. The right to redeem all or part of said bonds prior to their maturity, and the order of any such redemption, may be reserved in the resolution authorizing the issuance of bonds and shall be set forth on the face of said bonds. Interest on refunding bonds issued on or after July 1, 1973, pursuant to this article shall be exempt from Colorado income tax.
L. 64: R&RE, p. 561, § 3. C.R.S. 1963: § 123-12-4. L. 70: p. 338, § 14. L. 73: p. 1250, § 2.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 43 - Refunding Bonds (§§ 22-43-101 — 22-43-110) › Section 22-43-105 - Sale - proceeds - amounts

Such refunding bonds may be exchanged for the bonds to be refunded, or they may be sold at, above, or below their par value; but such refunding bonds shall be exchanged or sold at a price such that the net interest cost and the net effective interest rate for the issue of refunding bonds does not exceed the net interest cost and the net effective interest rate of the outstanding bonds to be refunded or the maximum net effective interest rate and net interest cost approved by the voters, as the case may be. Such refunding bonds shall be in a principal amount not exceeding the principal amount of the bonds to be refunded, as directed by the board of education, and the proceeds thereof shall be applied only to the purpose for which such refunding bonds were issued. The principal amount of said refunding bonds may be the same or less than the principal amount of the bonds to be refunded, if due, adequate, and sufficient provision has been made for the payment or redemption and retirement of said bonds to be refunded and the payment of the interest accruing thereon in accordance with this article.
L. 64: R&RE, p. 561, § 3. C.R.S. 1963: § 123-12-5. L. 70: p. 338, § 15.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 43 - Refunding Bonds (§§ 22-43-101 — 22-43-110) › Section 22-43-106 - Needed revenues - tax levy - miscellaneous

(1)
Whenever a board of education issues refunding bonds under the provisions of this article, sections
22-42-117
to
22-42-121
shall be applicable to said refunding bonds and the procedures therefor, in the same manner as prescribed for other school district bonds; except that any such refunding bonds shall be payable from the same funds which are to be derived from the same source as would have been used to pay the original bonds if no refunding thereof had occurred.
(2)
After refunding bonds are issued pursuant to this article, the resolution authorizing the same and providing for the levy of taxes for the payment of interest upon and the principal of such refunding bonds shall not be altered or repealed until the refunding bonds so authorized have been fully paid.
L. 64: R&RE, p. 562, § 3. C.R.S. 1963: § 123-12-6.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 43 - Refunding Bonds (§§ 22-43-101 — 22-43-110) › Section 22-43-108 - Reports

Each school district which issues refunding bonds under the provisions of this article shall file a report within sixty days after the issuance of said bonds with the state board of education. The report shall indicate the principal amount of bonds refunded, the net effective interest rate of both the bonds refunded and the refunding bonds, the net interest cost of both the bonds refunded and the refunding bonds, all school district costs incident to the issuance of refunding bonds, including those of the escrow agent, and such other items as may be determined by the state board of education.
L. 64: R&RE, p. 564, § 3. C.R.S. 1963: § 123-12-8.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 43 - Refunding Bonds (§§ 22-43-101 — 22-43-110) › Section 22-43-109 - [Repealed]

L. 64: p. 566, § 6. C.R.S. 1963: § 123-12-9. L. 2006: Entire section repealed, p. 609, § 32, effective August 7.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 43 - Refunding Bonds (§§ 22-43-101 — 22-43-110) › Section 22-43-110 - [Repealed]

L. 64: p. 567, § 7. C.R.S. 1963: § 123-12-10. L. 2006: Entire section repealed, p. 610, § 33, effective August 7.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 43.5 - [Repealed] (§ 22-43.5-101) › Section 22-43.5-101 - to 22-43.5-126 - [Repealed]

L. 2000: Entire article repealed, p. 373, § 28, effective April 10.
This article was added in 1994.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 43.7 - Capital Construction Assistance (§§ 22-43.7-101 — 22-43.7-203) › Part 1 - SCHOOL DISTRICT CAPITAL CONSTRUCTIONASSISTANCE PROGRAM (§§ 22-43.7-101 — 22-43.7-116) › Section 22-43.7-101 - Short title

This article shall be known and may be cited as the "Building Excellent Schools Today Act".
L. 2008: Entire article R&RE, p. 1040, § 1, effective May 22.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 43.7 - Capital Construction Assistance (§§ 22-43.7-101 — 22-43.7-203) › Part 1 - SCHOOL DISTRICT CAPITAL CONSTRUCTIONASSISTANCE PROGRAM (§§ 22-43.7-101 — 22-43.7-116) › Section 22-43.7-108 - Statewide financial assistance priority assessment - public school facilities

(1)
(a)
As soon as possible following the establishment of the public school facility construction guidelines pursuant to section
22-43.7-107
, the board shall conduct with the assistance of the division, or contract for, a financial assistance priority assessment of public school facilities throughout the state as provided in this section. The board shall order payment of the costs incurred in conducting or contracting for the financial assistance priority assessment from the assistance fund.
(b)
It is the intent of the general assembly that the financial assistance priority assessment required by this section be used only for the purposes specified in paragraph (a) of this subsection (1) and section
22-43.7-107(1)(a)
.
(2)
(a)
The financial assistance priority assessment shall assess public school facility capital construction projects based on:
(I)
The condition of the public school facility;
(II)
Air and water quality in the public school facility;
(III)
Public school facility space requirements;
(IV)
The ability to accommodate educational technology, including but not limited to technology for individual student learning and classroom instruction;
(V)
Site requirements for the public school facility;
(VI)
Public school facility demographics, including a five-year projection concerning anticipated substantial changes in the pupil count of individual public school facilities; and
(VII)
Annualized utility costs, including electricity, natural gas, propane, water, sewer, waste removal, telecommunications, internet, or other monthly billed utility services.
(b)
The financial assistance priority assessment shall include five-year projections regarding the issues described in paragraph (a) of this subsection (2).
(c)
The board, or the division upon the board's request, shall establish a database to store the data collected through the financial assistance priority assessment conducted pursuant to this section. The board or the division shall make the data collected available to the public in a form that is easily accessible and complies with any federal or state laws or regulations concerning privacy.
(3)
The board shall use the public school facility construction guidelines established pursuant to section
22-43.7-107
in conducting the financial assistance priority assessment described in this section.
Amended by 2017 Ch. 392,§ 3, eff. 6/6/2017.
L. 2008: Entire article R&RE, p. 1050, § 1, effective May 22. L. 2017: (2)(a)(V) and (2)(a)(VI) amended and (2)(a)(VII) added, (HB 17-1082), ch. 392, p. 2021, § 3, effective June 6.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 43.7 - Capital Construction Assistance (§§ 22-43.7-101 — 22-43.7-203) › Part 1 - SCHOOL DISTRICT CAPITAL CONSTRUCTIONASSISTANCE PROGRAM (§§ 22-43.7-101 — 22-43.7-116) › Section 22-43.7-112 - Attorney general as legal advisor

The attorney general shall act as legal advisor for the board, and with the consent of the attorney general, the board may employ additional legal counsel.
L. 2008: Entire article R&RE, p. 1062, § 1, effective May 22.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 43.7 - Capital Construction Assistance (§§ 22-43.7-101 — 22-43.7-203) › Part 1 - SCHOOL DISTRICT CAPITAL CONSTRUCTIONASSISTANCE PROGRAM (§§ 22-43.7-101 — 22-43.7-116) › Section 22-43.7-113 - Colorado school for the deaf and blind - special rules

Except to the extent otherwise provided by the board in rules promulgated in accordance with article
4
of title
24
, C.R.S., in order to account for any revenue-raising limitations of the Colorado school for the deaf and blind created and existing pursuant to section
22-80-102(1)(a)
not shared by school districts, the school shall be subject to the same financial assistance application requirements and financial assistance prioritization criteria as a school district.
L. 2008: Entire article R&RE, p. 1062, § 1, effective May 22.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 43.7 - Capital Construction Assistance (§§ 22-43.7-101 — 22-43.7-203) › Part 1 - SCHOOL DISTRICT CAPITAL CONSTRUCTIONASSISTANCE PROGRAM (§§ 22-43.7-101 — 22-43.7-116) › Section 22-43.7-114 - Capital construction assistance awarded for fiscal year 2007-08 - continued payment

Any capital construction assistance awarded to school districts or charter schools prior to the end of the 2007-08 fiscal year pursuant to this article, as it existed prior to May 22, 2008, shall continue to be paid.
L. 2008: Entire article R&RE, p. 1062, § 1, effective May 22.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 43.7 - Capital Construction Assistance (§§ 22-43.7-101 — 22-43.7-203) › Part 1 - SCHOOL DISTRICT CAPITAL CONSTRUCTIONASSISTANCE PROGRAM (§§ 22-43.7-101 — 22-43.7-116) › Section 22-43.7-115 - Tax increases not required

Nothing in this article shall be deemed to require a school district to increase taxes.
L. 2008: Entire article R&RE, p. 1062, § 1, effective May 22.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 43.7 - Capital Construction Assistance (§§ 22-43.7-101 — 22-43.7-203) › Part 1 - SCHOOL DISTRICT CAPITAL CONSTRUCTIONASSISTANCE PROGRAM (§§ 22-43.7-101 — 22-43.7-116) › Section 22-43.7-116 - Open record and open meetings

In exercising their powers and duties pursuant to this article, the board and the division shall be subject to the open meetings provisions of the "Colorado Sunshine Act of 1972", article
6
of title
24
, C.R.S., as set forth in part 4 of said article, and the open records provisions set forth in article
72
of title
24
, C.R.S.
L. 2008: Entire article R&RE, p. 1062, § 1, effective May 22.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 43.7 - Capital Construction Assistance (§§ 22-43.7-101 — 22-43.7-203) › Part 2 - FULL-DAY KINDERGARTEN FACILITY CAPITAL CONSTRUCTION ASSISTANCE (§§ 22-43.7-201 — 22-43.7-203) › Section 22-43.7-202 - Applications for grants and matching grants - rules

(1)
Each applicant for a grant or matching grant pursuant to this part 2 shall submit an application to the board no later than July 1 for the budget year commencing on that July 1. An individual school of a school district, including a district charter school, may apply for a grant or matching grant through the school district in which the school is located, and the school district may then apply to the board for the grant or matching grant on behalf of the school. An institute charter school may apply directly to the board.
(2)
The board or its designees shall evaluate each application submitted by a school district or an institute charter school based on the factors set forth in this section and such other factors as the board may establish by rule.
(3)
Each application for a grant or a matching grant submitted to the board pursuant to this section shall be in a form prescribed by the board and shall include:
(a)
A description of the scope and nature of the capital construction project to renovate a facility or provide a temporary auxiliary facility for a full-day kindergarten program;
(b)
A description of the architectural, functional, and construction standards that are to be applied to the facility that is the subject of the capital construction project;
(c)
The total estimated cost of the capital construction project;
(d)
The form and amount of financial effort that will be provided by the school district or the institute charter school for the capital construction project;
(e)
A demonstration of the school district's or the institute charter school's ability and willingness to maintain a capital construction project funded pursuant to this part 2; and
(f)
Any other information the board may reasonably require for the evaluation of the capital construction project.
(4)
The board shall prioritize each application for a grant or a matching grant that describes a capital construction project deemed eligible by the board for a grant or matching grant pursuant to this part 2. The board shall prioritize the applications based on the following criteria, in descending order of importance:
(a)
Capital construction projects in school districts or for institute charter schools in accounting districts that have reached ninety percent or more of their limit on bonded indebtedness under section
22-42-104
; and
(b)
Capital construction projects in school districts or for institute charter schools that have previously demonstrated consistent efforts to allocate moneys to the school districts' or institute charter schools' capital reserve fund.
L. 2008: Entire part added, p. 1214, § 26, effective May 22. L. 2009: (4)(b) amended, (SB 09 -256), ch. 294, p. 1570, § 38, effective May 21.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 43.7 - Capital Construction Assistance (§§ 22-43.7-101 — 22-43.7-203) › Part 2 - FULL-DAY KINDERGARTEN FACILITY CAPITAL CONSTRUCTION ASSISTANCE (§§ 22-43.7-201 — 22-43.7-203) › Section 22-43.7-203 - Full-day kindergarten facility capital construction projects - prioritization

(1)
From the applications submitted for grants or matching grants pursuant to section
22-43.7-202
, the board shall annually prepare a prioritized list of capital construction projects to provide facilities for full-day kindergarten programs. The board shall then determine the type and amount of the grant or matching grant to be awarded to each eligible capital construction project based on the information provided by the school district or the institute charter school in the application.
(2)
The board shall submit to the state board the prioritized list of capital construction projects prepared pursuant to subsection (1) of this section. The prioritized list shall include the board's recommendations as to the amount of financial assistance to be provided to applicants and whether the assistance should be in the form of a grant or a matching grant. The state board may approve, disapprove, or modify the provision of financial assistance to any applicant recommended by the board if the state board finds that the board incorrectly prioritized the capital construction projects pursuant to this part 2. The state board shall specifically explain in writing its reasons for finding that the board incorrectly prioritized any capital construction project pursuant to this part 2.
(3)
In prioritizing capital construction projects and awarding grants and matching grants pursuant to this part 2, the board shall attempt to maximize the total number of students statewide who will be able to attend a full day of kindergarten due to the availability of a renovated facility or temporary auxiliary facility for a full-day kindergarten program.
(4)
It is the intent of the general assembly that school districts give consideration to the needs of both traditional public schools and charter schools established pursuant to article
30.5
of this title when submitting applications for grants or matching grants pursuant to this section.
(5)
It is the intent of the general assembly that a grant or matching grant awarded to a school district or institute charter school pursuant to this part 2 shall not be taken into consideration when the board prioritizes capital construction projects pursuant to part 1 of this article. Nothing in this part 2 shall be construed to limit or otherwise affect the authority of the board to prioritize capital construction projects pursuant to part 1 of this article.
L. 2008: Entire part added, p. 1215, § 26, effective May 22.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 44 - Budget Policies and Procedures (§§ 22-44-101 — 22-44-305) › Part 1 - SCHOOL DISTRICT BUDGET LAW (§§ 22-44-101 — 22-44-119) › Section 22-44-101 - Short title

This part 1 shall be known and may be cited as the "School District Budget Law of 1964".
L. 64: p. 617, § 1. C.R.S. 1963: § 123-32-1.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 44 - Budget Policies and Procedures (§§ 22-44-101 — 22-44-305) › Part 1 - SCHOOL DISTRICT BUDGET LAW (§§ 22-44-101 — 22-44-119) › Section 22-44-102 - Definitions

As used in this part 1, unless the context otherwise requires:
(1)
"Appropriation" means the setting aside by resolution of a specified amount of money for a fund with an authorization to make expenditures and incur obligations for the purposes thereof.
(2)
"Board of education" or "board" means the governing body of a school district.
(3)
"Contingency" means an act of God or the public enemy, or some event which could not have been reasonably foreseen at the time of the adoption of the budget of a school district.
(4)
(a) and (b)
Repealed.
(c)
Effective July 1, 1992, "fiscal year" means the period beginning on July 1 of each year and ending on the following June 30.
(5)
"Function" means a classification within a fund in accordance with a major purpose including, but not limited to, administration, instruction, operation, or maintenance of a physical plant.
(6)
"Fund" means a sum of money or other resource set aside for a specific purpose of a school district. The accounts thereof constitute a complete entity, and all of the financial transactions for a particular fund shall be recorded in said fund.
(7)
"Object" means a classification within a function in accordance with the article or service received in return for expenditures including, but not limited to, personal services, materials, supplies, or equipment.
(7.3)
"Ongoing deficit" means any negative amount reported in the annual financial audit or submitted through the department's financial data-collection process by the school district, board of cooperative services, charter school, or charter school institute in the unassigned fund balance for governmental funds or unrestricted net assets for proprietary funds as identified in the standard statewide chart of accounts.
(7.5)
"Pupil enrollment count day" has the same meaning as set forth in section
22-54-103
(10.5).
(8)
"School district" or "district" means a school district or a local college district organized and existing pursuant to law.
L. 64: p. 617, § 2. C.R.S. 1963: § 123-32-2. L. 74: (4) amended, p. 378, § 1, effective April 1; (4) amended, p. 379, effective May 14. L. 81: (1) amended, p. 2026, § 23, effective July 14. L. 87: (4) amended, p. 831, § 2, effective July 1. L. 88: (4)(b) and (4)(c) repealed, p. 824, § 39, effective May 24. L. 89: (4)(b) RC&RE, p. 966, § 13, effective June 7. L. 90: (4) R&RE, p. 1052, § 1, effective May 31. L. 2012: (7.5) added, (HB 12-1090), ch. 44, p. 154, § 18, effective March 22; (7.3) added, (HB 12-1240), ch. 258, p. 1312, § 17, effective June 4.
Subsection (4)(a) provided for the repeal of subsection (4)(a), effective January 1, 1992. (See L. 90, p. 1052.) Subsection (4)(b) provided for the repeal of subsection (4)(b), effective July 1, 1992. (See L. 90, p. 1052.)
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 44 - Budget Policies and Procedures (§§ 22-44-101 — 22-44-305) › Part 1 - SCHOOL DISTRICT BUDGET LAW (§§ 22-44-101 — 22-44-119) › Section 22-44-103 - Budget and appropriation - required

(1)
The board of education of each school district shall adopt a budget and an appropriation resolution for each fiscal year, prior to the beginning of the fiscal year. The board shall ensure that the district uses the full accrual basis of accounting when budgeting and accounting for any enterprise funds included in the district budget.
(2)
If a new school district is organized during a fiscal year and the school districts included therein do not operate the schools until the end of the school year, the board of education of the newly organized district shall adopt a budget and appropriation resolution to cover only the remaining portion of the fiscal year. Such budget shall be based on the total of the amounts budgeted and appropriated by the board of education of any former district wholly included in the new district and the pro rata amounts budgeted and appropriated by the board of education of any district only partly included therein, to the respective funds, functions, and objects in the budget of the newly organized district.
L. 64: p. 618, § 3. C.R.S. 1963: § 123-32-3. L. 2003: (1) amended, p. 1284, § 3, effective July 1.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 44 - Budget Policies and Procedures (§§ 22-44-101 — 22-44-305) › Part 1 - SCHOOL DISTRICT BUDGET LAW (§§ 22-44-101 — 22-44-119) › Section 22-44-103.7 - [Repealed]

Repealed by subsection (2), eff. 7/1/2022.
Amended by 2021 Ch. 222, § 12, eff. 6/11/2021.
Added by 2020 Ch. 197, § 3, eff. 6/30/2020.
L. 2020: Entire section added, (HB 20-1418), ch. 940, p. 940, § 3, effective June 30. L. 2021: Entire section amended, (SB 21-268), ch. 1175, p. 1175, § 12, effective June 11.
For the legislative declaration in HB 20-1418, see section 1 of chapter 197, Session Laws of Colorado 2020.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 44 - Budget Policies and Procedures (§§ 22-44-101 — 22-44-305) › Part 1 - SCHOOL DISTRICT BUDGET LAW (§§ 22-44-101 — 22-44-119) › Section 22-44-104 - Failure to adopt budget or appropriation

If a board of education fails or neglects to adopt a budget or an appropriation resolution prior to the beginning of the ensuing fiscal year as required by section
22-44-103
, then ninety percent of the amounts budgeted and appropriated to the funds, functions, and objects by the last duly adopted budget and appropriation resolution shall be deemed to be budgeted and appropriated by operation of law for the fiscal year for which no budget or appropriation resolution was adopted prior thereto; but an amount of money sufficient to satisfy all obligations of bonded indebtedness which will be due and payable during said fiscal year shall be deemed to be budgeted and appropriated by operation of law.
L. 64: p. 618, § 4. C.R.S. 1963: § 123-32-4.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 44 - Budget Policies and Procedures (§§ 22-44-101 — 22-44-305) › Part 1 - SCHOOL DISTRICT BUDGET LAW (§§ 22-44-101 — 22-44-119) › Section 22-44-106 - Contingency reserve - operating reserve

(1)
Repealed.
(2)
A board of education may provide for an operating reserve in the general fund, which reserve shall not exceed fifteen percent of the amount budgeted to the general fund for the current fiscal year. Such operating reserve shall not be appropriated nor shall any moneys therein be expended during the fiscal year covered by the budget, but such moneys shall be a continuing reserve and be considered as a beginning general fund balance for the next following fiscal year.
L. 64: p. 619, § 6. C.R.S. 1963: § 123-32-6. L. 90: (1) repealed, p. 1099, § 64, effective May 31.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 44 - Budget Policies and Procedures (§§ 22-44-101 — 22-44-305) › Part 1 - SCHOOL DISTRICT BUDGET LAW (§§ 22-44-101 — 22-44-119) › Section 22-44-107 - Appropriation resolution - required

(1)
The board of education of each school district shall adopt an appropriation resolution at the time it adopts the budget. The appropriation resolution shall specify the amount of money appropriated to each fund; except that the operating reserve authorized by section
22-44-106(2)
shall not be subject to appropriation for the fiscal year covered by the budget and except that the appropriation resolution may by reference incorporate the budget as adopted by a board of education for the current fiscal year.
(2)
The amounts appropriated to a fund shall not exceed the amount thereof as specified in the adopted budget.
L. 64: p. 620, § 7. C.R.S. 1963: § 123-32-7. L. 75: Entire section amended, p. 706, § 3, effective July 14.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 44 - Budget Policies and Procedures (§§ 22-44-101 — 22-44-305) › Part 1 - SCHOOL DISTRICT BUDGET LAW (§§ 22-44-101 — 22-44-119) › Section 22-44-108 - Preparation of budget

(1)
(a)
The board of education shall each year cause to be prepared a proposed budget for the ensuing fiscal year. A statement shall be submitted with the proposed budget describing the major objectives of the educational program to be undertaken by the school district during the ensuing fiscal year and the manner in which the budget proposes to fulfill such objectives.
(b)
Repealed.
(c)
The proposed budget shall be submitted to the board at least thirty days prior to the beginning of the next fiscal year.
(2)
Upon receipt of the proposed budget and statement, the board of education may change the proposed budget and statement prior to the publication of the notice of budget required by section
22-44-109
.
L. 64: p. 620, § 8. C.R.S. 1963: § 123-32-8. L. 74: (1) amended, p. 379, § 2, effective July 1. L. 89: (1) amended, p. 1463, § 23, effective June 7. L. 90: (1) amended, p. 1053, § 3, effective May 31. L. 2006: (1)(c) amended, p. 610, § 35, effective August 7.
Subsection (1)(b) provided for the repeal of subsection (1)(b), effective July 1, 1992. (See L. 90, p. 1053.)
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 44 - Budget Policies and Procedures (§§ 22-44-101 — 22-44-305) › Part 1 - SCHOOL DISTRICT BUDGET LAW (§§ 22-44-101 — 22-44-119) › Section 22-44-109 - Notice of budget - publication

(1)
Within ten days after submission of the proposed budget, the board of education shall cause to be published a notice stating that the proposed budget is on file at the principal administrative offices of the school district; that the proposed budget is available for inspection during reasonable business hours; that any person paying school taxes in the district may file or register an objection thereto at any time prior to its adoption; and that the board of education of the school district will consider adoption of the proposed budget for the ensuing fiscal year on the date, time, and place specified in the notice.
(2)
Such notice shall be in substantially the following form:
NOTICE OF PROPOSED SCHOOL BUDGET
Notice is hereby given that a proposed budget has been submitted to the Board of Education of ........................................ (Name of school district) for the fiscal year beginning ........... and has been filed in the office of ........... where it is available for public inspection. Such proposed budget will be considered for adoption at a ........................................ (Regular or Special) meeting of the Board of Education of said District at ........... (Place) on .......... (Date) at ...... (Time).
Any person paying school taxes in said district may at any time prior to the final adoption of the budget file or register his objections thereto.
BOARD OF EDUCATION
Dated........
..............................................
(Name of school district)
..............................................
(Secretary)
(3)
Such notice shall be published at least once prior to the date specified for consideration of the budget in a newspaper having general circulation in the school district. If there is no newspaper having general circulation in the district, the secretary of the board of education shall cause the notice to be posted for at least fifteen days in the administrative offices of the district and in two other public places in the district.
L. 64: p. 620, § 9. C.R.S. 1963: § 123-32-9.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 44 - Budget Policies and Procedures (§§ 22-44-101 — 22-44-305) › Part 1 - SCHOOL DISTRICT BUDGET LAW (§§ 22-44-101 — 22-44-119) › Section 22-44-111 - Budget - filing

(1)
The board of education shall cause the adopted budget and the appropriation resolution to be placed on file at the principal administrative office of the school district, where they shall remain throughout the fiscal year and be open for inspection during reasonable business hours.
(2) and (3)
Repealed.
L. 64: p. 622, § 11. C.R.S. 1963: § 123-32-11. L. 93: (2) amended, p. 888, § 12, effective May 6. L. 99: (2) repealed, p. 178, § 10, effective March 30. L. 2007: (3) added, p. 743, § 21, effective May 9. L. 2010: (3) repealed, (HB 10-1171), ch. 401, p. 1934, §3, effective August 11.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 44 - Budget Policies and Procedures (§§ 22-44-101 — 22-44-305) › Part 1 - SCHOOL DISTRICT BUDGET LAW (§§ 22-44-101 — 22-44-119) › Section 22-44-113 - Borrowing from funds

(1)
A board of education may borrow unencumbered moneys from any one fund, except the bond redemption fund, for the use of another fund at any time. All moneys borrowed from a fund pursuant to this subsection (1) shall be repaid to said fund when needed to meet the obligations of said fund, and all revenues credited to the borrowing fund shall be used first to repay the loan. Any such loan shall be repaid not later than three months after the beginning of the following budget year. In the event moneys are not forthcoming from designated sources, an amount equal to the outstanding liability shall be expended from the general fund and used to repay the loan. Such amount from the general fund shall be recorded as revenue in the receiving fund.
(2)
Borrowing moneys from a fund pursuant to subsection (1) of this section shall be evidenced by a resolution duly adopted by the board of education authorizing such borrowing and shall be recorded in the minutes of the meeting of the board at which adopted. A copy of said resolution shall be filed with the employee or officer who issues checks, warrants, or orders on said school district.
(3)
The provisions of this section shall apply to all funds created by law or regulation or by action of a school district.
L. 64: p. 624, § 13. C.R.S. 1963: § 123-32-13. L. 81: (1) amended, p. 1073, § 1, effective July 1. L. 2003: (1) amended and (3) added, p. 1285, § 5, effective July 1.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 44 - Budget Policies and Procedures (§§ 22-44-101 — 22-44-305) › Part 1 - SCHOOL DISTRICT BUDGET LAW (§§ 22-44-101 — 22-44-119) › Section 22-44-114 - Record of expenditures

Each board of education shall maintain a complete set of books of account as required by law.
L. 64: p. 624, § 14. C.R.S. 1963: § 123-32-14.
2023 Colorado Revised Statutes › Title 22 - EDUCATION (§§ 22-1-101 — 22-108-109) › FINANCIAL POLICIES AND PROCEDURES (§§ 22-40-101 — 22-45-113) › Article 44 - Budget Policies and Procedures (§§ 22-44-101 — 22-44-305) › Part 1 - SCHOOL DISTRICT BUDGET LAW (§§ 22-44-101 — 22-44-119) › Section 22-44-115 - No obligation in excess of appropriation

(1)
A board of education of a school district shall not expend any moneys in excess of the amount appropriated by resolution for a particular fund.
(2)
Repealed.
(3)
Except as provided otherwise by this section, any obligation of a contract, verbal or written, which requires expenditures contrary to the provisions of subsection (1) of this section shall be void, and no school district moneys shall be paid thereon.
(4)
Notwithstanding any provisions of this section to the contrary, the board of education of a school district may enter into a contract for administrative services with a term not to exceed five years, for capital outlay purposes in accordance with articles
32
,
42
,
43
, and
45
of this title, or for the purchase of real property by local college districts in accordance with section
23-71-122(1)(c)
, C.R.S. Such a contract shall be valid and enforceable between parties to the contract. The provisions of this subsection (4) shall be subject to annual appropriation by the general assembly, the board of education, or the governing board.
L. 64: p. 624, § 15. C.R.S. 1963: § 123-32-15. L. 67: p. 797, § 1. L. 75: (1) and (3) amended and (2) repealed, pp. 707, 708, §§ 5, 10, effective July 14; (4) amended, p. 1269, § 2, effective July 1. L. 83: (4) amended, p. 820, § 1, effective July 1. L. 85: (4) amended, p. 734, § 5, effective May 31.