§ 24-82-1202 — Leases of buildings

Colorado § 24-82-1202

• Jurisdiction: Colorado
• Title 24: Government
• Art.: State Property

Text

(1) Subject to the provisions of this part
12, the executive director of a state department, or the governing board of an
institution of higher education, is authorized to execute a lease agreement for up to
thirty years for the rental of an approved building project.

(2) (a) Prior to executing a lease agreement authorized pursuant to this part
12, the executive director of the leasing state department shall submit a report to
the office of state planning and budgeting on the proposed approved building
project, including the proposed terms of the lease agreement, through the
budgeting process established pursuant to section 24-37-304. If the office of state
planning and budgeting approves the proposed approved building project and the
lease, it shall make recommendations concerning the proposed approved building
project and the lease to the capital development committee. If the capital
development committee approves the proposed approved building project and the
lease for the proposed approved building project, it shall make recommendations
concerning the proposed approved building project and the lease to the joint
budget committee. Following receipt of the recommendations, if the joint budget
committee approves the proposed approved building project and the lease, it shall
include any necessary moneys for the approved building project in its
recommendations for the next long appropriations bill.

(b) Prior to executing a lease agreement authorized pursuant to this part 12,
the governing board of a leasing institution of higher education shall submit a
report to the Colorado commission on higher education on the proposed approved
building project, including the proposed terms of the lease agreement, pursuant to
the provisions of section 23-1-106, C.R.S. If the proposed approved building project
does not require the approval of the capital development committee pursuant to
section 23-1-106, C.R.S., the commission may approve the proposed approved
building project and the lease. If the proposed approved building project is subject
to the approval of the capital development committee pursuant to section 23-1-106,
C.R.S., and if the commission approves the proposed approved building project and
the lease, the commission shall make recommendations concerning the proposed
approved building project and the lease to the capital development committee. If
the capital development committee approves the proposed approved building
project and the lease for the proposed approved building project, it shall make
recommendations concerning the proposed approved building project and the lease
to the joint budget committee. Following receipt of the recommendations, if the
joint budget committee approves the proposed approved building project and the
lease, it shall include any necessary moneys for the approved building project in its
recommendations for the next general appropriation bill.

Legislative History

Source: L. 2005: Entire part added, p. 1333, � 1, effective June 3.