Colorado § 29-4-710.6 Powers of the board - loans for capital

Colorado Statutes

§ 29-4-710.6 — Powers of the board - loans for capital

Colorado § 29-4-710.6

Title 29Government

Art.Housing

This text of Colorado § 29-4-710.6 (Powers of the board - loans for capital) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 29-4-710.6 (2026).

Text

(1)The authority may not assist the capital needs of any profit or nonprofit enterprise or undertaking until the board or the executive director pursuant to rules and regulations adopted by the board first determines that:

(a)Repealed.

(b)The amount of a loan to provide capital to an enterprise does not exceed the amount by which the total capital needs of such enterprise during a specified period exceeds the sum of the revenues of the operation reasonably expected to be available to the enterprise during such period to meet capital needs and the amount of any reserves for anticipated operating deficits and available to the enterprise during such period; and

(c)The financing agreement relating thereto provides for the payment to the authority of such revenues as will be, to

Free access — add to your briefcase to read the full text and ask questions with AI

(1) The authority may
not assist the capital needs of any profit or nonprofit enterprise or undertaking until
the board or the executive director pursuant to rules and regulations adopted by
the board first determines that:

(a) Repealed.

(b) The amount of a loan to provide capital to an enterprise does not exceed
the amount by which the total capital needs of such enterprise during a specified
period exceeds the sum of the revenues of the operation reasonably expected to be
available to the enterprise during such period to meet capital needs and the amount
of any reserves for anticipated operating deficits and available to the enterprise
during such period; and

(c) The financing agreement relating thereto provides for the payment to the
authority of such revenues as will be, together with any government subsidies
relating to the enterprise and other moneys available or expected to be available,
sufficient to pay the principal of and interest on all notes and bonds issued to
finance the loan and to build up and maintain any reserves deemed advisable by the
authority in connection therewith.

(2) Upon making the determinations specified in subsection (1) of this
section, the authority, in addition to the other powers granted by this part 7, shall
have the following powers:

(a) To commit to enter and to enter into a financing agreement to purchase
or participate in the purchase from a lender of loans to provide capital to business
enterprises upon such terms and conditions as the authority may deem appropriate;

(b) To commit to enter and to enter into a financing agreement to make a
loan to a lender upon the condition that the lender invest the proceeds of such loan
in loans to provide capital to business enterprises upon such terms and conditions
as the authority may deem appropriate;

(c) In connection with the preservation of its rights with respect to any loan,
to provide capital to a business enterprise, to provide for the acquisition, operation,
management, or maintenance of a business enterprise, and to sell or otherwise
dispose of any business enterprise.

Legislative History

Source: L. 82: Entire section added, p. 468, � 8, effective April 23. L. 87: IP(1), (1)(b), and (2)(a) to (2)(c) amended and (1)(a) repealed, pp. 1194, 1197, �� 11, 21, effective May 20.