As used in this article 59.7, unless the context
otherwise requires:
(1) Ancillary agreement means any contract, agreement, or other
arrangement that a public entity determines is necessary or convenient in
connection with a stimulus obligation, including but not limited to any agreement,
contract, or other arrangement:
(a) Pursuant to which the proceeds of such stimulus obligation are loaned or
made available to or secured for another public entity, a nonprofit or for-profit
corporation, a charter school, or any other person in accordance with the federal
recovery and reinvestment act;
(b) Relating to property that is leased or subleased pursuant to a financed
purchase of an asset or certificate of participation agreement or on which the
proceeds of a financed purchase of an asset or certificate of participation
agreement are spent;
(c) For credit or liquidity enhancement of, credit or liquidity support for, or
interest rate protection with respect to the stimulus obligation;
(d) That is an interest rate exchange agreement under article 59.3 of this
title;
(e) That relates to the investment of proceeds of the stimulus obligation;
(f) For the purchase, sale, marketing, or remarketing of the stimulus
obligation; or
(g) For services in connection with the stimulus obligation.
(2) Ballot issue has the same meaning as set forth in section 1-1-104 (2.3),
C.R.S.
(3) Ballot question has the same meaning as set forth in section 1-1-104
(2.7), C.R.S.
(4) Bond means any bond, note, interim certificate, contract, evidence of
indebtedness, loan, financing agreement, installment purchase or sale agreement,
lease, financed purchase of an asset agreement, or certificate of participation
agreement on which payments by a public entity are not subject to annual
appropriation by its governing body or any debt or multiple-fiscal year financial
obligation issued or entered into by a public entity.
(5) Build America bond has the same meaning as set forth in section 54AA
of the internal revenue code.
(5.5) Certificate of participation means any certificate evidencing a
participation right or a proportionate interest in any financing agreement or the
right to receive proportionate payments from the state or agency due under any
financing agreement.
(6) Charter school means a charter school as defined in section 22-30.5-103 (2), C.R.S., an independent charter school as defined in section 22-30.5-302 (6),
C.R.S., or an institute charter school as defined in section 22-30.5-502 (6), C.R.S.
(7) Charter school bond issuer means any public entity that is authorized
under state law to finance or refinance a project for the benefit of a charter school
through the issuance of bonds or the execution of a loan agreement, financing
agreement, financed purchase of an asset, or certificate of participation agreement
with a charter school.
(8) Clean renewable energy bond has the same meaning as set forth in
section 54 of the internal revenue code.
(8.5) Colorado energy office means the Colorado energy office created in
section 24-38.5-101 (1), C.R.S.
(9) Commission on higher education means the Colorado commission on
higher education created and existing pursuant to article 1 of title 23, C.R.S.
(10) Federal direct payments means amounts that the federal government
is to pay to or on behalf of a public entity that issues or enters into a stimulus
obligation and elects to receive direct payments from the federal government with
respect to the stimulus obligation pursuant to the internal revenue code.
(11) Federal recovery and reinvestment act means the federal American
Recovery and Reinvestment Act of 2009, Pub.L. 111-5, and any amendments to the
act or to any provision of the internal revenue code included in or amended by the
act.
(11.5) Financed purchase of an asset agreement means a financing
agreement that includes the purchase of an asset.
(12) Governing body means a city council, board of trustees, commission,
board of county commissioners, board of directors, governing board of a public
institution of higher education, or other legislative body of a public entity in which
the legislative powers of the public entity are vested. The governing body of the
state treasurer, or of the state treasurer, acting on behalf of the state, is the state
treasurer.
(13) Repealed.
(14) Internal revenue code has the same meaning as set forth in section 39-23.5-102 (9.5), C.R.S.
(15) Large local government has the same meaning as set forth in section
54D of the internal revenue code.
(16) Large municipality has the same meaning as set forth in section
1400U-1 of the internal revenue code.
(17) Repealed.
(18) New clean renewable energy bond has the same meaning as set forth
in section 54C of the internal revenue code.
(19) Project means any property, goods, or services on which the proceeds
of a bond or financed purchase of an asset or certificate of participation financing
are or may be spent, including but not limited to any job training or educational
program on which the proceeds of recovery zone economic development bonds may
be spent under federal law.
(20) Public entity means the state, any agency, department, or political
subdivision of the state, any quasi-governmental entity, or any other entity created
by or pursuant to the constitution or laws of the state that is authorized under state
law to issue bonds or enter into a financed purchase of an asset or certificate of
participation agreement, including but not limited to:
(a) The state treasurer or the state treasurer, acting on behalf of the state;
(b) A state agency or department;
(c) A state authority;
(d) A public institution of higher education, state educational institution, or
other state institution, including its governing body or any other issuing authority of
the institution constituting a body corporate;
(e) A county or city and county;
(f) A municipality;
(g) A school district;
(h) A special district organized or acting pursuant to the provisions of title
32, C.R.S.;
(i) A district or authority organized or acting pursuant to the provisions of
title 29, 30, or 31, C.R.S.;
(j) A water conservancy district created pursuant to article 45 of title 37,
C.R.S.;
(k) Any other political subdivision or governmental or quasi-governmental
entity of the state;
(l) Any other public entity as defined in section 24-75-601 (1), C.R.S.;
(m) A recovery and reinvestment act finance authority;
(n) An enterprise of any public entity listed in paragraphs (a) to (m) of this
subsection (20); and
(o) A nonprofit corporation organized under the laws of the state that is
authorized by law, or a trust created under the laws of the state that is authorized
under its governing documents, to issue bonds or enter into financed purchase of
an asset or certificate of participation agreements on behalf of one or more public
entities listed in subsections (20)(a) to (20)(n) of this section.
(21) Public institution of higher education means any state-supported
institution of higher education that is obligated to conform to the policies set by the
commission on higher education pursuant to section 23-1-102 (2), C.R.S.
(22) Public school capital construction assistance board means the board
created in section 22-43.7-106 (1)(a), C.R.S.
(23) Qualified energy conservation bond has the same meaning as set forth
in section 54D of the internal revenue code.
(24) Qualified energy conservation bond volume cap means the dollar
amount of qualified energy conservation bonds allocated to the state and the
state's large local governments pursuant to section 54D of the internal revenue
code.
(25) Qualified school construction bond has the same meaning as set forth
in section 54F of the internal revenue code.
(26) Qualified school construction bond volume cap means the school
district qualified school construction bond volume cap and the state qualified
school construction bond volume cap and includes any portion of the school district
qualified school construction bond volume cap that is reallocated to the public
school capital construction assistance board pursuant to section 11-59.7-106.
(27) Qualified zone academy bond has the same meaning as set forth in
section 54E of the internal revenue code.
(28) Qualified zone academy bond volume cap means the volume cap for
qualified zone academy bonds allocated by the federal government to the state
pursuant to section 54E of the internal revenue code.
(29) Recovery and reinvestment act finance authority means a separate
legal entity created by contract between or among public entities for the purpose
of issuing stimulus obligations pursuant to section 11-59.7-110.
(30) Recovery zone means:
(a) Any area designated by the public entity that issues or enters into a
recovery zone bond as having significant poverty, unemployment, rate of home
foreclosures, or general distress;
(b) Any area designated by the public entity that issues or enters into a
recovery zone bond as economically distressed by reason of the closure or
realignment of a military installation pursuant to the federal Defense Base Closure
and Realignment Act of 1990, Pub.L. 101-510; and
(c) Any area for which a designation as an empowerment zone or renewal
community is in effect.
(31) Recovery zone bond means both a recovery zone economic
development bond and a recovery zone facility bond.
(32) Recovery zone economic development bond has the same meaning as
set forth in section 1400U-2 of the internal revenue code.
(33) Recovery zone economic development bond project means any
property, goods, or services on which the proceeds of recovery zone economic
development bonds may be spent under federal law.
(34) Recovery zone economic development bond volume cap means the
dollar amount of recovery zone economic development bonds to be allocated by the
federal government to the state and by the state to the state's counties and large
municipalities pursuant to section 1400U-1 of the internal revenue code.
(35) Recovery zone facility bond has the same meaning as set forth in
section 1400U-3 of the internal revenue code.
(36) Recovery zone facility bond volume cap means the dollar amount of
recovery zone facility bonds to be allocated by the federal government to the state
and by the state to the state's counties and large municipalities pursuant to section
1400U-1 of the internal revenue code.
(37) School district qualified school construction bond volume cap means
the volume cap for qualified school construction bonds allocated by the federal
government to school districts of the state pursuant to section 54F of the internal
revenue code.
(37.5) Specified tax credit bond has the same meaning as set forth in
section 6431 of the internal revenue code.
(38) State qualified school construction bond volume cap means the
volume cap for qualified school construction bonds allocated by the federal
government to the state pursuant to section 54F of the internal revenue code.
(39) Stimulus obligation means any bond or financed purchase of an asset
or certificate of participation agreement that qualifies as a build America bond,
clean renewable energy bond, new clean renewable energy bond, qualified energy
conservation bond, qualified school construction bond, qualified zone academy
bond, or recovery zone bond.
(40) Stimulus obligation document means any resolution, ordinance, trust
indenture, loan agreement, financing agreement, financed purchase of an asset
agreement, certificate of participation agreement, lease, agreement, contract, or
other instrument under which a stimulus obligation is issued or entered into or
pursuant to which a public entity incurs obligations with respect to a stimulus
obligation and any ancillary agreement entered into pursuant to section 11-59.7-104
(2).
(41) Type of means, when used with respect to any stimulus obligation, any
one of a build America bond, clean renewable energy bond, new clean renewable
energy bond, qualified energy conservation bond, qualified school construction
bond, qualified zone academy bond, or recovery zone bond.
(42) Volume cap means the dollar amount of any stimulus obligation
allocated to the state or another public entity pursuant to the federal recovery and
reinvestment act or any other federal law.