2023 Colorado Revised Statutes › Title 23 - POSTSECONDARY EDUCATION (§§ 23-1-101 — 23-81-102) › STATE UNIVERSITIES AND COLLEGES (§§ 23-1-101 — 23-56-111) › GENERAL AND ADMINISTRATIVE (§§ 23-1-101 — 23-19.9-102) › Article 15 - COLORADO EDUCATIONAL AND CULTURAL FACILITIES AUTHORITY (§§ 23-15-101 — 23-15-131) › Section 23-15-104 - Authority - creation - board - organization

(1)
(a)
There is created an independent public body politic and corporate to be known as the Colorado educational and cultural facilities authority. The authority is constituted a public instrumentality, and its exercise of the powers conferred by this article 15 is deemed and held to be the performance of an essential public function. The authority is a body corporate and a political subdivision of the state, is not an agency of state government, and is not subject to administrative direction by any department, commission, board, or agency of the state.
(b)
The legal effects of any statute designating the Colorado educational and cultural facilities authority by any other name, or property rights incurred under any other name, shall not be impaired.
(2)
(a)
The governing body of the authority is a board of directors, which consists of seven members to be appointed by the governor, with the consent of the senate.
(b)
Each member must be a resident of the state.
(c)
No more than four of the members may be affiliated with the same political party.
(d)
The term of office of an appointed member is four years; except that the terms shall be staggered so that no more than four members' terms expire in the same year.
(e)
Each member shall serve until the member's resignation or, in the case of a member whose term has expired, until the member's successor has been appointed.
(f)
Any member is eligible for reappointment.
(3)
The governor shall fill any vacancy by appointment for the remainder of an unexpired term. Any member appointed by the governor when the general assembly is not in regular session, whether appointed for an unexpired term or for a full term, shall be deemed to be duly appointed and qualified until the appointment of such member is approved or rejected by the senate. Such appointment shall be submitted to the senate for its approval or rejection during the next regular session of the general assembly following the appointment.
(4)
(a)
Any member of the board may be removed by the governor for misfeasance, malfeasance, willful neglect of duty, or other cause.
(b)
Notwithstanding the provisions of subsection (4)(a) of this section, a member shall be removed by the governor if such member fails, for reasons other than temporary mental or physical disability or illness, to attend three regular meetings of the board during any twelve-month period without the board having entered upon its minutes an approval for any of such absences.
Amended by 2022 Ch. 2,§39, eff. 2/25/2022.
L. 81: Entire article added, p. 1098, § 1, effective July 1. L. 83: (2) amended, p. 804, § 2, effective May 25. L. 87: (2) amended, p. 907, § 15, effective June 15. L. 98: (1) amended, p. 605, § 5, effective May 4.
For limitation on issuance of private activity bonds, see part 17 of article 32 of title 24; for the provisions that designate the Colorado postsecondary educational facilities authority as a "special purpose authority" for the purposes of section 20 of article X of the Colorado constitution, see §24-77-102(15).