reglab/statecodes huggingface dataset:
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 2 - County and Municipal Sales or Use Tax (§§ 29-2-101 — 29-2-302) › Part 2 - DEPARTMENT OF REVENUE COLLECTION, ADMINISTRATION, ENFORCEMENT, AND DISTRIBUTION OF LOCAL GOVERNMENT SALES OR USE TAX (§§ 29-2-201 — 29-2-216) › Section 29-2-202 - [Effective 7/1/2025] Applicability

(1)
Except as provided in sections 29-2-209 and 29-2-211, this part 2 applies to:
(a)
Sales or use tax imposed by statutory local governments, special districts, or requesting home rule jurisdictions that are collected, administered, enforced, and distributed by the department; and
(b)
(I)
The county lodging tax imposed pursuant to section 30-11-107.5;
(II)
The marketing and promotion tax imposed pursuant to section 29-25-112 (1)(a);
(III)
The visitor benefit tax imposed pursuant to section 43-4-605 (1)(i.5);
(IV)
The prepaid wireless 911 charge imposed pursuant to section 29-11-102.5;
(V)
The prepaid wireless TRS charge imposed pursuant to section 29-11-102.7; and
(VI)
The prepaid wireless 988 charge imposed pursuant to section 27-64-103 (4)(b).
(2)
Except where specifically provided, and except for a home rule jurisdiction's participation in resolving disputes as described in section 29-2-208 (2) and (3), nothing in this part 2 applies to, affects, or limits the powers of home rule jurisdictions to impose, administer, or enforce their local sales or use tax.
Added by 2024 Ch. 144,§ 1, eff. 7/1/2025, app. to any taxable event occurring on or after 7/1/2025.
2024 Ch. 144, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 2 - County and Municipal Sales or Use Tax (§§ 29-2-101 — 29-2-302) › Part 2 - DEPARTMENT OF REVENUE COLLECTION, ADMINISTRATION, ENFORCEMENT, AND DISTRIBUTION OF LOCAL GOVERNMENT SALES OR USE TAX (§§ 29-2-201 — 29-2-216) › Section 29-2-203 - [Effective 7/1/2025] Collection, administration, and enforcement of sales or use tax

(1)
[Formerly 29-2-106 (1)]
Unless otherwise provided in this part 2, the executive director shall collect, administer, enforce, and distribute any sales or use tax adopted by a statutory local government, special district, or requesting home rule jurisdiction in the same manner as the collection, administration, and enforcement of the Colorado state sales and use tax pursuant to article
26
of title
39
.
(2)
[Formerly the last sentence of 29-2-106 (3)(a)]
Except as provided in section
39-26-208
, each statutory local government shall collect, administer, and enforce any use tax imposed pursuant to section
29-2-109
as provided by ordinance or resolution, and shall resolve disputes pursuant to section 29-2-302.
Added by 2024 Ch. 144,§ 1, eff. 7/1/2025, app. to any taxable event occurring on or after 7/1/2025.
2024 Ch. 144, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 2 - County and Municipal Sales or Use Tax (§§ 29-2-101 — 29-2-302) › Part 2 - DEPARTMENT OF REVENUE COLLECTION, ADMINISTRATION, ENFORCEMENT, AND DISTRIBUTION OF LOCAL GOVERNMENT SALES OR USE TAX (§§ 29-2-201 — 29-2-216) › Section 29-2-204 - [Effective 7/1/2025] Collection, administration, and enforcement of home rule jurisdiction sales or use tax

(1)
[Formerly 29-2-106 (1)]
Unless otherwise provided in this part 2, the executive director shall collect, administer, enforce, and distribute any sales or use tax adopted by a statutory local government, special district, or requesting home rule jurisdiction in the same manner as the collection, administration, and enforcement of the Colorado state sales and use tax pursuant to article
26
of title
39
.
(2)
[Formerly the last sentence of 29-2-106 (3)(a)]
Except as provided in section
39-26-208
, each statutory local government shall collect, administer, and enforce any use tax imposed pursuant to section
29-2-109
as provided by ordinance or resolution, and shall resolve disputes pursuant to section 29-2-302.
Added by 2024 Ch. 144,§ 1, eff. 7/1/2025, app. to any taxable event occurring on or after 7/1/2025.
2024 Ch. 144, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 2 - County and Municipal Sales or Use Tax (§§ 29-2-101 — 29-2-302) › Part 2 - DEPARTMENT OF REVENUE COLLECTION, ADMINISTRATION, ENFORCEMENT, AND DISTRIBUTION OF LOCAL GOVERNMENT SALES OR USE TAX (§§ 29-2-201 — 29-2-216) › Section 29-2-206 - [Effective 7/1/2025] Vendor fee

(1)
A statutory local government, special district, or requesting home rule jurisdiction may allow by ordinance or resolution a retailer that collects and remits its sales or use tax to retain a percentage, as fixed by the statutory local government, special district, or requesting home rule jurisdiction, of the amount remitted to cover the vendor's expense in collecting and remitting the statutory local government, special district, or requesting home rule jurisdiction's sales or use tax; except that:
(a)
A statutory local government, special district, or requesting home rule jurisdiction shall not impose any kind of limit, other than the percentage fixed as authorized by this subsection (1), on the amount of sales or use tax that a vendor may retain; and
(b)
The provisions of section 39-26-105 (1)(c)(III) apply if a retailer is delinquent in remitting the statutory local government, special district, or requesting home rule jurisdiction sales or use tax.
Added by 2024 Ch. 144,§ 1, eff. 7/1/2025, app. to any taxable event occurring on or after 7/1/2025.
2024 Ch. 144, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 2 - County and Municipal Sales or Use Tax (§§ 29-2-101 — 29-2-302) › Part 2 - DEPARTMENT OF REVENUE COLLECTION, ADMINISTRATION, ENFORCEMENT, AND DISTRIBUTION OF LOCAL GOVERNMENT SALES OR USE TAX (§§ 29-2-201 — 29-2-216) › Section 29-2-207 - [Effective 7/1/2025] Distributions

(1)
[Formerly the first two sentences of 29-2-106 (3)(a)]
The executive director, shall make monthly distributions of sales or use tax collections to the appropriate liaison in each statutory local government, special district, and requesting home rule jurisdiction.
(2)
[Formerly 29-2-106 (10)]
(a)
If any sales or use tax to be distributed pursuant to this part 2 is not distributed within sixty days after the processing date, the department shall add interest to the undistributed amount from the sixtieth day after the processing date until the date that the sales or use tax is distributed. The rate of interest is equal to the average rate, rounded to one-thousandth of a percent, being earned by the investment of money in the state treasury for the same period.
(b)
The provisions of this subsection (2) do not apply if the distribution of sales or use tax was delayed as a result of unforeseen circumstances or caused primarily by an entity other than the department, which determination the department shall make in good faith.
Added by 2024 Ch. 144,§ 1, eff. 7/1/2025, app. to any taxable event occurring on or after 7/1/2025.
2024 Ch. 144, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 2 - County and Municipal Sales or Use Tax (§§ 29-2-101 — 29-2-302) › Part 2 - DEPARTMENT OF REVENUE COLLECTION, ADMINISTRATION, ENFORCEMENT, AND DISTRIBUTION OF LOCAL GOVERNMENT SALES OR USE TAX (§§ 29-2-201 — 29-2-216) › Section 29-2-209 - [Effective 7/1/2025] Uniform collection procedures for home rule jurisdictions

Each home rule jurisdiction shall follow, and conform its ordinances where necessary to, the statute of limitations applicable to the enforcement of state sales or use tax collections, the statute of limitations applicable to refunds of state sales or use taxes, the amount of penalties and interest payable on delinquent remittances of state sales or use taxes, and the posting of bonds pursuant to section
39-21-105
.
Added by 2024 Ch. 144,§ 1, eff. 7/1/2025, app. to any taxable event occurring on or after 7/1/2025.
2024 Ch. 144, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 2 - County and Municipal Sales or Use Tax (§§ 29-2-101 — 29-2-302) › Part 2 - DEPARTMENT OF REVENUE COLLECTION, ADMINISTRATION, ENFORCEMENT, AND DISTRIBUTION OF LOCAL GOVERNMENT SALES OR USE TAX (§§ 29-2-201 — 29-2-216) › Section 29-2-210 - [Effective 7/1/2025] Remittance of tax - GIS - vendor held harmless

Any vendor may use the GIS database and be held harmless as described in section 39-26-105.2 when collecting and remitting sales or use tax to the department pursuant to this part 2.
Added by 2024 Ch. 144,§ 1, eff. 7/1/2025, app. to any taxable event occurring on or after 7/1/2025.
2024 Ch. 144, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 2 - County and Municipal Sales or Use Tax (§§ 29-2-101 — 29-2-302) › Part 2 - DEPARTMENT OF REVENUE COLLECTION, ADMINISTRATION, ENFORCEMENT, AND DISTRIBUTION OF LOCAL GOVERNMENT SALES OR USE TAX (§§ 29-2-201 — 29-2-216) › Section 29-2-211 - [Effective 7/1/2025] Sales or use tax on motor vehicles

The executive director is hereby authorized to contract and enter into agreements with the county clerk and recorder and home rule jurisdictions for the collection of state, county, and city or town use taxes upon motor vehicles, and the county clerk and recorder may charge and retain a fee as the director may approve to fully cover the cost of such collection by the county clerk and recorder.
Added by 2024 Ch. 144,§ 1, eff. 7/1/2025, app. to any taxable event occurring on or after 7/1/2025.
2024 Ch. 144, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 2 - County and Municipal Sales or Use Tax (§§ 29-2-101 — 29-2-302) › Part 2 - DEPARTMENT OF REVENUE COLLECTION, ADMINISTRATION, ENFORCEMENT, AND DISTRIBUTION OF LOCAL GOVERNMENT SALES OR USE TAX (§§ 29-2-201 — 29-2-216) › Section 29-2-212 - [Effective 7/1/2025] Qualified purchasers

(1)
A qualified purchaser may provide a direct payment permit number issued pursuant to section
39-26-103.5
to any vendor or retailer that is liable and responsible for collecting and remitting any statutory local government, special district, or requesting home rule jurisdiction sales or use tax imposed on any sale made to the qualified purchaser pursuant to the provisions of this article 2. A vendor or retailer that has received in good faith from a qualified purchaser a direct payment permit number shall not be liable or responsible for collection and remittance of any salesor use tax imposed on such sale that is paid for directly from such qualified purchaser's funds and not the personal funds of any individual.
(2)
A qualified purchaser that provides a direct payment permit number to a vendor or retailer shall be liable and responsible for the amount of salesor use tax imposed on any sale made to the qualified purchaser pursuant to this article 2 in the same manner as liability would be imposed on a qualified purchaser for state salesor use tax pursuant to section
39-26-105 (5)
.
2024 Ch. 144, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 2 - County and Municipal Sales or Use Tax (§§ 29-2-101 — 29-2-302) › Part 2 - DEPARTMENT OF REVENUE COLLECTION, ADMINISTRATION, ENFORCEMENT, AND DISTRIBUTION OF LOCAL GOVERNMENT SALES OR USE TAX (§§ 29-2-201 — 29-2-216) › Section 29-2-213 - [Effective 7/1/2025] Coordination

Each statutory local government, special district, and requesting home rule jurisdiction shall designate one or more liaisons who shall coordinate with the department regarding the collection of its sales or use tax. This coordination may include the liaison identifying businesses eligible to collect the sales or use tax in its jurisdiction and any other administrative details identified by the department.
Added by 2024 Ch. 144,§ 1, eff. 7/1/2025, app. to any taxable event occurring on or after 7/1/2025.
2024 Ch. 144, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 2 - County and Municipal Sales or Use Tax (§§ 29-2-101 — 29-2-302) › Part 2 - DEPARTMENT OF REVENUE COLLECTION, ADMINISTRATION, ENFORCEMENT, AND DISTRIBUTION OF LOCAL GOVERNMENT SALES OR USE TAX (§§ 29-2-201 — 29-2-216) › Section 29-2-214 - [Effective 7/1/2025] Collection of sales tax - enhanced efficiencies - intergovernmental agreements with local governments - legislative declaration

(1)
The general assembly hereby finds and declares that:
(a)
It is in the best interest of the state, statutory local governments, special districts, requesting home rule jurisdictions, and taxpayers to have salesor use tax collected in the most efficient and effective manner feasible;
(b)
Salesor use taxes can be administered and collected most efficiently when the governmental entities that collect the taxes cooperate and share responsibilities to collect and distribute revenues from the taxes;
(c)
The administrative burden on taxpayers is lessened when governmental entities cooperate and agree on the processes used to administer and collect salesor use taxes;
(d)
Broad authority and precedent exist for governmental entities to operate more efficiently and effectively by contracting with each other to cooperate in carrying out their respective responsibilities;
(e)
The purpose of this section is to encourage the state to work cooperatively with statutory local governments, special districts, and requesting home rule jurisdictions in the administration and collection of salesor use taxes in the state to enhance efficiencies and procedures for the benefit of both the department andstatutory local governments, special districts, and requesting home rule jurisdictions.
(2)
The executive director may enter into an intergovernmental agreement with any statutory local government, special district, or requesting home rule jurisdiction for the purpose of enhancing the systemic efficiencies and procedures used in the collection of state and local salesor use taxes. Such agreement shall be entered into on behalf of and for the benefit of the statutory local government, special district, or requesting home rule jurisdiction and the department. In addition, a municipality may be included as a party to the agreement to further the same efficiencies and procedures to be enhanced by the agreement between the executive director and a county. The agreement may allow the parties to share in providing any function or service lawfully authorized to each of the parties, including the sharing of costs, information, or duties related to the collection of salesor use taxes within the boundaries of the county.
(3)
[Deleted by 2024 Amendment.]
Renumbered from C.R.S. § 39-26-122.5 and amended by 2024 Ch. 144,§ 1, eff. 7/1/2025, app. to any taxable event occurring on or after 7/1/2025.
L. 2009: Entire section added, (HB 09 -1130), ch. 229, p. 1042, § 2, effective August 5.
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 2 - County and Municipal Sales or Use Tax (§§ 29-2-101 — 29-2-302) › Part 2 - DEPARTMENT OF REVENUE COLLECTION, ADMINISTRATION, ENFORCEMENT, AND DISTRIBUTION OF LOCAL GOVERNMENT SALES OR USE TAX (§§ 29-2-201 — 29-2-216) › Section 29-2-216 - [Effective 7/1/2025] Department rulemaking

The executive director may promulgate rules to carry out the provisions of this part 2.
Added by 2024 Ch. 144,§ 1, eff. 7/1/2025, app. to any taxable event occurring on or after 7/1/2025.
2024 Ch. 144, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 2 - County and Municipal Sales or Use Tax (§§ 29-2-101 — 29-2-302) › Part 3 - DISPUTE RESOLUTION FOR SALES OR USE TAX SELF-COLLECTED BY LOCAL GOVERNMENTS (§§ 29-2-301 — 29-2-302) › Section 29-2-301 - [Effective 7/1/2025] Definitions

As used in this part 3, unless the context otherwise requires:
(1)
"Department" means the department of revenue.
(2)
"Executive director" means the executive director of the Department.
(3)
"Local government" means home rule and statutory cities, towns, cities and counties, and counties.
Added by 2024 Ch. 144,§ 1, eff. 7/1/2025, app. to any taxable event occurring on or after 7/1/2025.
2024 Ch. 144, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 3 - COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT (§§ 29-3-101 — 29-3-123) › Section 29-3-101 - Short title

This article shall be known and may be cited as the "County and Municipality Development Revenue Bond Act".
L. 67: p. 671, § 1. C.R.S. 1963: § 36-24-1. L. 73: p. 475, § 1.
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 3 - COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT (§§ 29-3-101 — 29-3-123) › Section 29-3-104 - General powers

(1)
In addition to any other powers, each county and municipality has the following powers:
(a)
To acquire, whether by construction, purchase, gift, devise, lease, or sublease; to improve and equip; and to finance, refinance, sell, lease, or otherwise dispose of one or more projects or part thereof. If a county issues revenue bonds as provided in this article to finance, refinance, or acquire projects, such projects shall be located within said county, or, if a municipality issues revenue bonds as provided in this article to finance, refinance, or acquire projects, such projects shall be located within the municipality or within eight miles from the nearest point of its corporate limits.
(b)
To enter into financing agreements with others for the purpose of providing revenues to pay the bonds authorized by this article; to lease, sell, or otherwise dispose of any or all of its projects to others for such revenues and upon such terms and conditions as the governing body may deem advisable; and to grant options to renew any lease or other agreement with respect to the project and to grant options to buy any project at such price as the governing body deems desirable;
(c)
To issue revenue bonds for the purpose of defraying the cost of financing, refinancing, acquiring, improving, and equipping any project, including the payment of principal and interest on such bonds for not exceeding three years, funding any reserve funds which the governing body may deem advisable to establish in connection with the retirement of the proposed bonds or the maintenance of the project, and all other incidental expenses incurred in issuing such bonds;
(d)
To secure payment of such bonds as provided in this article.
(2)
To further implement section 18 of article XIV of the state constitution and to supplement part 5 of article
25
of title
31
, C.R.S., any county or municipality may delegate, by resolution or ordinance as the case may be, to any other county or municipality authority to act on its behalf in the financing, refinancing, acquisition, leasing, ownership, improvement, and disposal of projects. Any such delegation may be general or limited in scope and time and may be irrevocable for the term or terms of any financing agreement or bond issue, all as provided in said ordinance or resolution.
L. 67: p. 672, § 4. C.R.S. 1963: § 36-24-4. L. 73: p. 477, § 4. L. 77: (1)(a) and (1)(c) amended and (2) R&RE, pp. 1409, 1410, §§ 4, 5, effective June 20.
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 3 - COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT (§§ 29-3-101 — 29-3-123) › Section 29-3-105 - Bonds to be special obligations

(1)
All bonds issued by a county or municipality under the authority of this article shall be special, limited obligations of the county or municipality. Except as provided in section
29-3-116
, the principal of and interest on such bonds shall be payable, subject to the mortgage provisions in this article, solely out of the revenues derived from the financing, refinancing, sale, or leasing of the project with respect to which the bonds are issued.
(2)
The bonds and interest coupons, if any, appurtenant thereto shall never constitute the debt or indebtedness of the county or municipality within the meaning of any provision or limitation of the state constitution, statutes, or home rule charter, and shall not constitute nor give rise to a pecuniary liability of the county or municipality or a charge against its general credit or taxing powers. Such limitation shall be plainly stated on the face of each bond.
L. 67: p. 672, § 5. C.R.S. 1963: § 36-24-5. L. 73: p. 478, § 5. L. 77: (1) amended, p. 1410, § 6, effective June 20.
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 3 - COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT (§§ 29-3-101 — 29-3-123) › Section 29-3-106 - Form and terms of bonds - exemption from Colorado income tax

(1)
The bonds shall be authorized by resolution of the county commissioners or by ordinance of the municipality; shall be subject to such maximum net effective interest rate; and shall be in such denominations, bear such date, mature at such time not exceeding forty years from their respective dates, bear such interest at a rate, be in such form, carry such registration privileges, be executed in such manner, be payable at such place within or without the state, and be subject to such terms of redemption as the authorizing resolution or supplemental resolution of the county commissioners or the ordinance or supplemental resolution of the municipality may provide.
(2)
The bonds may be sold in one or more series at par, or below or above par, at public or private sale, in such manner and for such price as the county or municipality, in its discretion, shall determine; but the county or municipality shall not sell such bonds at a price such that the net effective interest rate of the issue of bonds exceeds the maximum net effective interest rate authorized. As an incidental expense of the project, the county or municipality, in its discretion, may employ financial and legal consultants in regard to the financing of the project.
(3)
The county or municipality may exchange all or a part of its bonds for all or an equivalent part of the project for which the bonds are issued, the exchange to be preceded by determination of the fair value of the project or part of the project exchanged for the bonds. Such determination shall be by ordinance of the municipality or by resolution of the governing body of the county and shall be conclusive.
(4)
The bonds shall be fully negotiable under the terms of article
8
of title
4
, C.R.S.
(5)
Interest on bonds issued on or after July 1, 1979, pursuant to this article shall be exempt from Colorado income tax.
L. 67: p. 672, § 6. C.R.S. 1963: § 36-24-6. L. 70: pp. 109, 140, §§ 2, 8. L. 73: p. 478, § 6. L. 79: (5) added, p. 1128, § 1, effective June 22.
For the definition of "net effective interest rate", as used in subsections (1) and (2), see § 30-26-301(2)(d)(I).
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 3 - COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT (§§ 29-3-101 — 29-3-123) › Section 29-3-107 - Bond security

The principal of, the interest on, and any prior redemption premiums due in connection with the bonds shall be payable from, secured by a pledge of, and constitute a lien on the revenues out of which such bonds shall be made payable. In addition, they may be secured by a mortgage covering all or any part of the project or upon any other property of the user, or both, by a pledge of the revenues from or a financing agreement for such project, or both, as the governing body in its discretion may determine, but no county or municipality shall be authorized hereby to pledge any of its property or to otherwise secure the payment of any bonds with its property; except that the county or municipality may pledge the property of the project or revenues therefrom.
L. 67: p. 673, § 7. C.R.S. 1963: § 36-24-7. L. 73: p. 478, § 7. L. 75: Entire section amended, p. 968, § 4, effective July 14.
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 3 - COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT (§§ 29-3-101 — 29-3-123) › Section 29-3-108 - Terms of proceedings and instruments

(1)
The proceedings under which the bonds are authorized to be issued and any mortgage or trust indenture given to secure the same may contain any provisions customarily contained in instruments securing bonds and constituting a covenant with the bondholders, including, but not limited to:
(a)
Provisions respecting custody of the proceeds from the sale of the bonds, including their investment and reinvestment until used to defray the cost of the project;
(b)
Provisions respecting the fixing and collection of revenues from the project;
(c)
The terms to be incorporated in the financing agreement and any mortgage or trust indenture for the project, including without limitation provision for subleasing;
(d)
The maintenance and insurance of the project;
(e)
The creation of funds and accounts into which any bond proceeds, revenues, and income may be deposited or credited;
(f)
Limitation on the purpose to which the proceeds of any bonds then or thereafter to be issued may be applied;
(g)
Limitation on the issuance of additional bonds, the terms upon which additional bonds are issued and secured, the refunding of bonds, and the replacement of bonds;
(h)
The procedure, if any, by which the terms of any contract with bondholders may be amended or abrogated;
(i)
Vesting in a trustee such properties, rights, powers, and duties in trust as the county or municipality determines and limiting the rights, duties, and powers of such trustees;
(j)
The rights and remedies available in case of a default to the bondholders or to any trustee under the financing agreement, a mortgage, or a trust indenture for the project.
L. 67: p. 673, § 8. C.R.S. 1963: § 36-24-8. L. 73: p. 478, § 8.
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 3 - COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT (§§ 29-3-101 — 29-3-123) › Section 29-3-109 - Investments and bank deposits

(1)
The county or municipality may provide that proceeds from the sale of bonds and special funds from the revenues of the project shall be invested and reinvested 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 bonds are authorized to be issued, including but not limited to:
(a)
Bonds or other obligations of the United States;
(b)
Bonds or other obligations, the payment of the principal and interest of which is unconditionally guaranteed by the United States;
(c)
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;
(d)
Obligations issued or guaranteed by any state of the United States or any political subdivision of any such state;
(e)
Prime commercial paper;
(f)
Prime finance company paper;
(g)
Bankers acceptances drawn on and accepted by commercial banks;
(h)
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;
(i)
Certificates of deposit issued by commercial banks.
(2)
The county or municipality may also provide that the proceeds, funds, or investments and the revenues payable under the financing agreement shall be received, held, and disbursed by one or more trust companies located within or without this state or in any depository authorized in section
24-75-603
, C.R.S.
L. 67: p. 674, § 9. C.R.S. 1963: § 36-24-9. L. 73: p. 479, § 9. L. 79: (2) amended, p. 1617, § 12, effective June 8.
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 3 - COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT (§§ 29-3-101 — 29-3-123) › Section 29-3-110 - Acquisition of project

(1)
The county or municipality may also provide that:
(a)
The project and improvements to be constructed, if any, shall be constructed by the county or municipality, the user, the user's designee, or any one or more of them on real estate owned by the county or municipality, the user, or the user's designee, as the case may be;
(b)
The bond proceeds shall be disbursed by the trustee bank or trust company during construction upon the estimate, order, or certificate of the user or the user's designee.
(2)
The project, if and to the extent constructed on real estate not owned by the county or municipality, may be conveyed or leased or an easement therein granted to the county or municipality at any time.
L. 67: p. 674, § 10. C.R.S. 1963: § 36-24-10. L. 73: p. 479, § 10.
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 3 - COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT (§§ 29-3-101 — 29-3-123) › Section 29-3-111 - Limited obligation

In making such agreements or provisions, a county or municipality shall not obligate itself, except with respect to the project and the application of the revenues therefrom and bond proceeds therefor.
L. 67: p. 674, § 11. C.R.S. 1963: § 36-24-11.
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 3 - COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT (§§ 29-3-101 — 29-3-123) › Section 29-3-112 - Rights upon default

(1)
The proceedings authorizing any bonds, or any mortgage securing such bonds, may provide that if there is a default in the payment of the principal of, the interest on, or any prior redemption premiums due in connection with the bonds or in the performance of any agreement contained in such proceedings or mortgage, the payment and performance may be enforced by mandamus or by the appointment of a receiver in equity with power to charge and collect rents and to apply the revenues from the project in accordance with the proceedings or the provisions of the mortgage.
(2)
Any mortgage to secure bonds issued thereunder may also provide that if there is a default in the payment thereof or a violation of any agreement contained in the mortgage it may be foreclosed and there may be a sale under proceedings in equity or in any other manner permitted by law. Such mortgage may also provide that any trustee under such mortgage or the holder of any bonds secured thereby may become the purchaser at any foreclosure sale if he is the highest bidder and may apply toward the purchase price unpaid bonds at the face value thereof.
L. 67: p. 674, § 12. C.R.S. 1963: § 36-24-12.
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 3 - COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT (§§ 29-3-101 — 29-3-123) › Section 29-3-113 - Determination of revenue

(1)
Prior to entering into a financing agreement for the project and the issuance of bonds in connection therewith, the governing body must determine:
(a)
The amount necessary in each year to pay the principal of and the interest on the first bonds proposed to be issued to finance such project;
(b)
The amount necessary to be paid each year into any reserve funds which the governing body may deem advisable to establish in connection with the retirement of the proposed bonds and the maintenance of the project;
(c)
The estimated cost of maintaining the project in good repair and keeping it properly insured, unless the terms under which the project is to be financed provide that the user shall maintain the project and carry all proper insurance with respect thereto.
(2)
The determination and findings of the governing body, required to be made by subsection (1) of this section, shall be set forth in the proceedings under which the proposed bonds are to be issued; but the foregoing amounts need not be expressed in dollars and cents in the financing agreement and proceedings under which the bonds are authorized to be issued.
L. 67: p. 675, § 13. C.R.S. 1963: § 36-24-13. L. 73: p. 479, § 11.
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 3 - COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT (§§ 29-3-101 — 29-3-123) › Section 29-3-114 - Financing of project

Prior to the issuance of any bonds authorized by this article, the county or municipality shall enter into a financing agreement with respect to the project with a user providing for payment to the county or municipality of such revenues as, upon the basis of such determinations and findings, will be sufficient to pay the principal of and interest on the bonds issued to finance the project, to build up and maintain any reserves deemed advisable by the governing body in connection therewith, and to pay the costs of maintaining the project in good repair and keeping it properly insured, unless the financing agreement obligates the user to pay for the maintenance of and insurance on the project.
L. 67: p. 675, § 14. C.R.S. 1963: § 36-24-14. L. 73: p. 480, § 12.
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 3 - COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT (§§ 29-3-101 — 29-3-123) › Section 29-3-115 - Option to purchase

(1)
A lease may grant the user of a project an option to purchase all or a part of the project at a stipulated purchase price or at a price to be determined upon appraisal as is provided in the lease.
(2)
The option may be exercised at such time as the lease may provide.
(3)
The county or municipality and the user may agree and provide in the lease that all or a part of the rentals paid by the user prior to and at the time of the exercise of such option shall be applied toward the purchase price and shall be in full or partial satisfaction thereof.
L. 67: p. 675, § 15. C.R.S. 1963: § 36-24-15. L. 73: p. 480, § 13.
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 3 - COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT (§§ 29-3-101 — 29-3-123) › Section 29-3-117 - Application of proceeds

(1)
The proceeds from the sale of any bonds shall be applied only for the purpose for which the bonds were issued and if, for any reason, any portion of such proceeds are not needed for the purpose for which the bonds were issued, such unneeded portion of the proceeds shall be applied to the payment of the principal of or the interest on the bonds.
(2)
The cost of acquiring any project shall be deemed to include the actual cost of acquiring a site and the cost of the construction of any part of a project which may be constructed (including architects' and engineers' fees), the purchase price of any part of a project that may be acquired by purchase, and all expenses in connection with the authorization, sale, and issuance of the bonds to finance such acquisition.
L. 67: p. 676, § 17. C.R.S. 1963: § 36-24-17.
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 3 - COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT (§§ 29-3-101 — 29-3-123) › Section 29-3-118 - No payment by county or municipality

(1)
No county or municipality has the power to pay out of its general fund or otherwise contribute any part of the costs of acquiring a project and, unless specifically acquired for uses of the character described in this article or unless the land is determined by the governing body to be no longer necessary for other county or municipal purposes, shall not have the power to use land already owned by the county or municipality, or in which the county or municipality has an equity, for the construction thereon of a project or any part thereof.
(2)
The entire cost of acquiring any project must be paid out of the proceeds from the sale of the bonds, but this provision shall not be construed to prevent a municipality from accepting donations of property to be used as a part of any project or money to be used for defraying any part of the cost of any project.
L. 67: p. 676, § 18. C.R.S. 1963: § 36-24-18.
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 3 - COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT (§§ 29-3-101 — 29-3-123) › Section 29-3-119 - No county or municipal operation

(1)
When all principal of, interest on, and any prior redemption premium due in connection with the bonds issued for a project leased to a user have been paid in full and in the event the option to purchase or option to renew the lease, if any, contained in the lease has not been exercised as to all of the property contained in the project, the lease shall terminate and the county or municipality shall sell such remaining property or devote the same to county or municipal purposes other than manufacturing, commercial, or industrial.
(2)
Any such sale which is not made pursuant to the exercise of an option to purchase by the user of a project shall be conducted in the same manner as is then provided by law governing the issuer's sale of surplus property.
L. 67: p. 677, § 19. C.R.S. 1963: § 36-24-19. L. 73: p. 480, § 14.
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 3 - COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT (§§ 29-3-101 — 29-3-123) › Section 29-3-120 - Payment in lieu of taxes

(1)
Pursuant to section 4 of article X of the state constitution, all property owned by a county or municipality pursuant to this article shall be and remain exempt from taxation. Nevertheless, any county or municipality acquiring or extending any project as provided in this article shall annually pay, solely out of the revenues from the project and not from any other source, to the state of Colorado and to the city, town, school district, and any other political subdivision or public body corporate wherein such project is located, authorized to levy taxes, a sum equal to the amount of tax which the taxing entity would annually receive if the property were owned by any private person or corporation, any other statute to the contrary notwithstanding. In addition to the requirements of sections
29-3-113
and
29-3-114
, the governing body, before entering into a financing agreement pursuant to this article, shall make a prior determination of sufficiency of revenues for the purposes of this section, and each financing agreement shall provide for revenues sufficient to meet the payments required by this section.
(2)
If and to the extent the proceedings under which the bonds so provide, the county or municipality may agree to cooperate with the user of a project in connection with any administrative or judicial proceedings for determining the validity or amount of any such payments and may agree to appoint or designate and reserve the right in and for such user to take all action which the county or municipality may lawfully take in respect of such payments and all matters relating thereto, but such user shall bear and pay all costs and expenses of the county or municipality thereby incurred at the request of such user or by reason of any such action taken by such user in behalf of the county or municipality.
(3)
Any user of a project which has paid, as revenues additional to those required to be paid pursuant to section
29-3-114
, the amounts required by subsection (1) of this section to be paid by the county or municipality shall not be required to pay taxes on such property to the state or to any county, city, town, school district, or other political subdivision, any other statute to the contrary notwithstanding. In the event the project is owned by a private person or corporation, the financing agreement shall require such private person or corporation to pay the taxes which such taxing entity or entities are entitled to receive from such private person or corporation with respect to the project.
L. 67: p. 677, § 20. C.R.S. 1963: § 36-24-20. L. 73: pp. 480, 482, §§ 15, 18.
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 3 - COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT (§§ 29-3-101 — 29-3-123) › Section 29-3-121 - Eminent domain not available

No land acquired by a county or municipality by the exercise of condemnation through eminent domain can be used for the project to effectuate the purposes of this article.
L. 67: p. 677, § 21. C.R.S. 1963: § 36-24-21.
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 3 - COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT (§§ 29-3-101 — 29-3-123) › Section 29-3-122 - Limitation of actions

No action shall be brought questioning the legality of any contract, financing agreement, mortgage, trust indenture, proceeding, or bonds executed in connection with any project or improvements authorized by this article on and after thirty days from the effective date of the resolution or ordinance authorizing the issuance of such bonds.
L. 67: p. 678, § 22. C.R.S. 1963: § 36-24-22. L. 73: p. 481, § 16.
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 3 - COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT (§§ 29-3-101 — 29-3-123) › Section 29-3-123 - Sufficiency of article

(1)
This article, without reference to other statutes of the state, constitutes full authority for the exercise of powers granted in this article, including but not limited to the authorization and issuance of bonds under this article.
(2)
No other act or law with regard to the authorization or issuance of bonds that provides for an election requiring an approval or in any way impeding or restricting the carrying out of the acts authorized in this article to be done shall be construed as applying to any proceedings taken under this article or acts done pursuant to this article.
(3)
The provisions of no other law, either general or local, shall apply to the things authorized to be done in this article, and no board, agency, bureau, commission, or official not designated in this article has any authority or jurisdiction over any of the acts authorized in this article to be done.
(4)
No notice, consent, or approval by any public body or officer thereof shall be required as a prerequisite to the sale or issuance of any bonds, the making of any contract or financing agreement, or the exercise of any other power under this article, except as provided in this article.
(5)
The powers conferred by this article shall be in addition and supplemental to, and not in substitution for, and the limitations imposed by this article shall not affect, the powers conferred by any other law.
(6)
No part of this article shall repeal or affect any other law or part thereof except to the extent that this article is inconsistent with any other law, it being intended that this article shall provide a separate method of accomplishing its objectives and not an exclusive one; and this article shall not be construed as repealing, amending, or changing any such other law except to the extent of such inconsistency.
L. 67: p. 678, § 23. C.R.S. 1963: § 36-24-23. L. 73: p. 481, § 17. L. 77: (2) and (3) amended, p. 1411, § 8, effective June 20.
2023 Colorado Revised Statutes › Title 29 - GOVERNMENT - LOCAL (§§ 29-1-101 — 29-37-210) › GENERAL PROVISIONS (§§ 29-1-101 — 29-3.5-102) › Article 3.5 - STATE GRANTS TO LOCAL GOVERNMENTS (§§ 29-3.5-101 — 29-3.5-102) › Section 29-3.5-101 - Definitions

As used in this article 3.5, unless the context otherwise requires:
(1)
"Eligible applicant" means an applicant under a local government assistance program which meets all statutory requirements for eligibility and which complies with all applicable regulations, ordinances, and resolutions.
(2)
"Local government assistance program" means any program under which a state agency furnishes a grant or loan of state money, or state property in lieu of money, to units of local government for the purpose of financing or otherwise assisting in any local or regional project.
(3)
"State agency" means any board, bureau, commission, department, institution, division, section, or officer of the state, except those in the legislative branch or judicial branch and except state educational institutions administered pursuant to title 23, except part 1 of article 8, parts 2 and 3 of article 21, and parts 2 to 4 of article
31
of title
23
.
(4)
"Unit of local government" means a county, city and county, city, town, service authority, school district, local improvement district, law enforcement authority, water, sanitation, fire protection, metropolitan, irrigation, drainage, or other special district, or any other kind of municipal, quasi-municipal, or public corporation organized pursuant to law.
Amended by 2021 Ch. 308, § 18, eff. 6/23/2021.
Amended by 2013 Ch. 316, § 91, eff. 8/7/2013.
L. 81: Entire article added, p. 1410, § 1, effective June 2. L. 83: (3) amended, p. 962, § 8, effective 7/1/1984. L. 2012: (3) amended, (HB 12-1283), ch. 1135, p. 1135, § 52, effective July 1. L. 2013: (3) amended, (HB 13-1300), ch. 1692, p. 1692, § 91, effective August 7. L. 2021: IP and (3) amended, (HB 21-1264), ch. 1877, p. 1877, § 18, effective June 23.
Section 20 of chapter 308 (HB 21-1264), Session Laws of Colorado 2021, provides that the act amending this section takes effect only if SB 21-288 (chapter 221) becomes law and takes effect either upon the effective date of HB 21-1264 or one day after the passage of SB 21-288, whichever is later. HB 21-1264 became law and took effect June 23, 2021, and SB 21-288 became law and took effect June 11, 2021.
For the legislative declaration in the 2012 act amending subsection (3), see section 1 of chapter 240, Session Laws of Colorado 2012. For the legislative declaration in HB 21- 1264, see section 2 of chapter 308, Session Laws of Colorado 2021.