§ 24-75-305 — Transfers from capital construction fund

(1) In accordance
with the legislative declaration as specified in section 24-75-304, the controller
and the state treasurer shall, from time to time, during any fiscal year as fiscal
procedures may require and upon the written approval of the governor, transfer
from the capital construction fund to the general revenue funds such amounts of
money as shall be necessary to ensure prompt payment of all warrants drawn
against said general revenue funds if the controller first certifies:

(a) That the general revenue funds shall have sufficient moneys accruing to
them in the same fiscal year in which the transfer is made to retransfer to the
capital construction fund any moneys so transferred;

(b) That appropriations from the general revenue funds do not exceed
estimated general fund revenues and estimated surplus; and

(c) That the capital construction fund has, at the time of the transfer, and will
have sufficient moneys accruing to it during the period prior to the anticipated
retransfer to enable it to meet its own obligations.

(2) The controller and the state treasurer shall retransfer from the general
revenue funds to the capital construction fund any moneys transferred under the
provisions of subsection (1) of this section prior to June 30 of the fiscal year in which
the transfer was made.

Legislative History

Source: L. 64: p. 661, � 2. C.R.S. 1963: � 130-9-2. L. 85: p. 1361, � 20.