Colorado § 24-82-1204 Terms and conditions of lease agreements

Colorado Statutes

§ 24-82-1204 — Terms and conditions of lease agreements

Colorado·Title 24 Government·Art. State Property

(1)A lease agreement, financed purchase of an asset agreement, or certificate of participation agreement entered into pursuant to this part 12 may contain such terms, provisions, and conditions as the executive director of the leasing state department or the governing board of the leasing institution may deem appropriate. Any lease agreement entered into pursuant to this part 12 shall comply with the requirements of section 24-82-801.

(2)As used in this section:

(a)Certificate of participation means any certificate evidencing a participation right of a proportionate interest in any financing agreement or the right to receive proportionate payments from the state or an agency due under any financing agreement.

(b)Financed purchase of an asset means a financing agreement that

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(1) A lease
agreement, financed purchase of an asset agreement, or certificate of participation
agreement entered into pursuant to this part 12 may contain such terms, provisions,
and conditions as the executive director of the leasing state department or the
governing board of the leasing institution may deem appropriate. Any lease
agreement entered into pursuant to this part 12 shall comply with the requirements
of section 24-82-801.

(2) As used in this section:

(a) Certificate of participation means any certificate evidencing a
participation right of a proportionate interest in any financing agreement or the
right to receive proportionate payments from the state or an agency due under any
financing agreement.

(b) Financed purchase of an asset means a financing agreement that
includes the purchase of an asset.

Colorado § 24-82-1204 (Terms and conditions of lease agreements) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 2005: Entire part added, p. 1335, � 1, effective June 3. L. 2009: Entire section amended, (HB 09-1218), ch. 132, p. 573, � 7, effective July 1. L. 2021: Entire section amended, (HB 21-1316), ch. 325, p. 2047, � 60, effective July 1.