§ 26-1-133.5 — Rental properties - fund created

Colorado § 26-1-133.5

• Jurisdiction: Colorado
• Title 26: Human
• Art.: Department of Human Services

Text

(1) The executive director is
authorized to rent surplus facilities on the campuses of the various institutions
operated by the state department so long as the rentals are not prohibited by
contractual agreement, state law, or other legal restrictions on the state
department's possession or use of the property. The state department shall not
enter into any lease agreement that would endanger the state's ownership of the
property or that is expected to result in a financial loss to the state.

(2) All moneys collected from the rental of surplus facilities pursuant to
subsection (1) of this section shall be transmitted to the state treasurer, who shall
credit the same to the department of human services buildings and grounds cash
fund, which fund is hereby created and referred to in this section as the fund.

(3) The moneys in the fund shall be subject to annual appropriation by the
general assembly to the state department to be used in operating, repairing,
remodeling, or demolishing the facilities of any properties rented by the state
department pursuant to subsection (1) of this section.

(4) Any moneys in the fund not expended for the purposes of subsection (3)
of this section may be invested by the state treasurer as provided by law. All
interest and income derived from the investment and deposit of moneys in the fund
shall be credited to the fund. Any unexpended and unencumbered moneys
remaining in the fund at the end of a fiscal year shall remain in the fund and shall
not be credited or transferred to the general fund or another fund.

Legislative History

Source: L. 2008: Entire section added, p. 1344, � 1, effective May 27.