(1)For the purposes of obtaining funds for constructing, otherwise acquiring, and
equipping auxiliary facilities, as defined in section 23-5-101.5 (2)(a), for the use of
students and employees at the center, the Auraria board is authorized, after
approval by the Colorado commission on higher education and subsequent
affirmative vote by the combined student bodies of the Auraria campus if student
fees are to be used in financing such projects, to enter into contracts with any one
or more persons or corporations or state or federal government agencies for the
advancement of moneys for such purposes and to provide for the repayment of
such advancements with interest at a specified net effective interest rate.
(2)(a) The Auraria board, by resolution, may issue revenue bonds on beh
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(1)
For the purposes of obtaining funds for constructing, otherwise acquiring, and
equipping auxiliary facilities, as defined in section 23-5-101.5 (2)(a), for the use of
students and employees at the center, the Auraria board is authorized, after
approval by the Colorado commission on higher education and subsequent
affirmative vote by the combined student bodies of the Auraria campus if student
fees are to be used in financing such projects, to enter into contracts with any one
or more persons or corporations or state or federal government agencies for the
advancement of moneys for such purposes and to provide for the repayment of
such advancements with interest at a specified net effective interest rate.
(2) (a) The Auraria board, by resolution, may issue revenue bonds on behalf
of any auxiliary facility or group of auxiliary facilities managed by the Auraria board
for the purpose of obtaining funds for constructing, otherwise acquiring, equipping,
or operating such auxiliary facility or group of auxiliary facilities. Any bonds issued
on behalf of any auxiliary facility or group of auxiliary facilities other than dining
facilities, recreational facilities, health facilities, parking facilities, student center
facilities, or research facilities which are funded from a revolving fund may be
issued only after approval by both houses of the general assembly either by bill or
by joint resolution and after approval by the governor in accordance with section 39
of article V of the state constitution. Except as provided in subsection (2)(b) of this
section, bonds issued pursuant to this subsection (2) shall be payable only from
revenues generated by the auxiliary facility or group of auxiliary facilities on behalf
of which such bonds are issued. Such bonds shall be issued in accordance with the
provisions of section 23-70-108 (2).
(b) (I) For the 2020-21 and 2021-22 state fiscal years only, existing bonds for
auxiliary facilities or group of auxiliary facilities managed by the Auraria board and
issued under subsection (2)(a) of this section may be payable from other sources,
including money contributed by constituent institutions from whatever source, and
from money appropriated to the board by the general assembly.
(II) For the 2020-21 state fiscal year, the amounts contributed by constituent
institutions, from whatever source, are as follows:
(A) One million three hundred eighty-nine thousand three hundred dollars
from the board of trustees for the Metropolitan state university of Denver;
(B) Nine hundred eighty thousand seven hundred dollars from the board of
regents of the university of Colorado; and
(C) Three hundred eighty thousand dollars from the state board for
community colleges and occupational education.
(3) The Auraria board, by resolution, may issue revenue bonds secured by a
pledge of lease payments or any other revenues derived from a complementary
facility or group of complementary facilities for the purpose of raising moneys for
constructing or otherwise acquiring and equipping any facility necessary or useful
to the accomplishment of the mission of the Auraria board and the center. Bonds
issued pursuant to this subsection (3) shall be payable only from revenues
generated by the lease payments or by the complementary facility or group of
complementary facilities that are subject to the pledge. The bonds shall be issued
in accordance with the provisions of section 23-70-108 (2).
(4) The Auraria board, by resolution, may issue revenue bonds secured by a
pledge of rental payments or other payments to be received from a constituent
institution or constituent institutions. The Auraria board shall use the proceeds of
said bonds to acquire, construct, or equip any physical plant, facility, building, or
ground within the center for the use of one or more constituent institutions
pursuant to section 23-70-104. Bonds issued pursuant to this subsection (4) shall
be payable only from payments received by the Auraria board from the constituent
institutions for the acquisition, construction, or equipping of the physical plant,
facility, building, or ground for which the bonds are issued. The bonds shall be
issued in accordance with the provisions of section 23-70-108 (2).