(1) In addition to any other powers granted to
the authority in this article 117, the authority has the powers to:
(a) Have the duties, privileges, immunities, rights, liabilities, and disabilities
of a body corporate and political subdivision of the state;
(b) Have perpetual existence and succession;
(c) Adopt, alter, have, and use a seal;
(d) Sue and be sued;
(e) Acquire office space, equipment, services, supplies, and insurance
necessary to carry out the purposes of this article 117;
(f) Fix the time and place at which its regular and special meetings are to be
held;
(g) Adopt, amend, or repeal bylaws, policies, and procedures consistent with
the provisions of this article 117, including policies and procedures regarding the
definition and interpretation of terms used in this article 117. Nothing in this
subsection (1)(g) grants the authority the power to redefine terms that are already
defined in this article 117.
(h) Appoint agents, employees, and professional and business advisers,
including real estate professionals, construction companies, property managers,
attorneys, accountants, and financial advisers as necessary to accomplish the
purposes of this article 117, and to fix the compensation of such agents, employees,
and advisers, and to establish the powers and duties of all agents, employees, and
advisers, as well as any other person contracting with the authority to provide
services, including termination of employment or the contract for services; except
that the authority may contract with the officers, personnel, and consultants of the
state treasurer to perform any or all activities specified in this article 117;
(i) Make and execute agreements, contracts, and other instruments
necessary or convenient in the exercise of the powers and functions of the
authority under this article 117, including contracts with any person, firm,
corporation, municipality, state agency, county, or other entity. All municipalities,
counties, and state agencies may enter into and do all things necessary to perform
any such arrangement or contract with the authority.
(j) Utilize available money for administrative costs;
(k) Establish advisory committees;
(l) Borrow money through the issuance of bonds and other securities as
provided in this article 117;
(m) Enter into interest rate exchange agreements for bonds in accordance
with section 24-117-106;
(n) Acquire, hold, and sell loan obligations at prices and through methods
deemed advisable by the board;
(o) Contract for and to accept any gifts, grants, and loans of money,
property, or any other aid in any form from the federal government, the state, any
state agency, or any other source or any combination thereof, and to comply,
subject to the provisions of this article 117, with the terms and conditions of such
contracts for the acceptance of such items;
(p) Secure insurance, guarantees, or other forms of collateral or credit
support for issued bonds or securities;
(q) Invest and deposit money in accordance with section 24-117-111;
(r) Finance or participate in the financing of eligible projects, or any interest
therein, except for any projects that are within the statutory authority of the
Colorado housing and finance authority;
(s) Facilitate the funding of infrastructure projects, and in so doing, the
authority must prioritize assisting infrastructure projects that satisfy the criteria
identified in section 24-117-112 (5);
(t) Charge to and collect from state agencies and persons fees and charges
in connection with the authority's loans or other services, including but not limited
to fees and charges sufficient to reimburse the authority for all reasonable costs
necessarily incurred by the authority in connection with carrying out the purpose
and intent of this article 117 and the establishment and maintenance of reserves or
other money, as the authority may determine to be reasonable;
(u) Collect debts owed to the authority, including through necessary legal
actions; and
(v) Have and exercise all rights and powers necessary, incidental to, or
implied from the specific powers granted in this article 117, which specific powers
shall not be considered as a limitation on any power necessary or appropriate to
carry out the purposes and intent of this article 117.
(2) The authority shall develop policies and procedures as necessary for the
implementation of this article 117.
(3) The authority shall engage with under-represented communities and
organizations.
(4) The authority shall engage in responsible contracting and labor
practices.
(5) (a) The authority shall comply with all applicable federal laws governing
the use of federal funds, including, without limitation, statutes and regulations
governing:
(I) Any conditions or limitations on expenditures;
(II) Reporting; and
(III) The commingling of federal funds.
(b) Earnings made in connection with this article 117 on balances in any
federal accounts must be credited and invested in accordance with federal law.
Earnings made in connection with this article 117 on any state and local money must
be deposited in the same fund to the credit of the account that generates the
earnings.
(6) The authority shall follow all applicable federal and state prevailing wage
and apprenticeship utilization statutory and regulatory requirements, including:
(a) The federal Davis-Bacon Act, 40 U.S.C. sec. 3141 et seq., and related
federal acts;
(b) Where applicable, the federal Inflation Reduction Act of 2022, United
States Code, title 26, including but not limited to sections 30C, 45, 45B, 45L, 45Q,
45U, 45V, 45X, 45Y, 45Z, 48, 48C, 48E, and 179D, and associated implementing
rules and guidance promulgated by the United States department of the treasury
and the United States internal revenue service, as the statute and implementing
rules and guidance may be amended from time to time;
(c) State prevailing wage and apprenticeship utilization requirements for
projects that meet the definition of public projects, as defined in sections 24-92-201 (5) and 24-92-115; and
(d) State prevailing wage and apprenticeship utilization requirements
established in sections 24-92-115 and 24-92-201 for projects that meet the
definition of energy sector public works projects, as defined in section 24-92-303
(5).
(7) The authority shall ensure that any loan that is issued by the authority
and then paid in full is closed. The authority shall not use a closed loan as equity for
any other project.
(8) If a project being considered by the authority is not required under state
or federal law to follow prevailing wage or apprenticeship utilization requirements,
the authority shall give preference for projects that voluntarily agree to follow the
state prevailing wage for employees employed in the construction, rehabilitation,
operation, or maintenance services of facilities, as described in sections 24-92-201
to 24-92-210, and state apprenticeship utilization requirements described in section
24-92-115.
(9) The authority shall not issue bonds for, finance, or participate in the
financing of any projects that are within the statutory authority of the Colorado
housing and finance authority.