§ 32-1-1009 — Regional tourism projects

Colorado § 32-1-1009

• Jurisdiction: Colorado
• Title 32: Special
• Art.: Special District Provisions

Text

(1) In addition to the powers specified
in this part 10, and notwithstanding any limitation on the powers of a metropolitan
district otherwise specified in this part 10 or in the metropolitan district's service
plan, any metropolitan district designated as an approved financing entity pursuant
to part 3 of article 46 of title 24, C.R.S., shall have all the powers necessary or
convenient to carry out and effect its authority as a financing entity pursuant to
part 3 of article 46 of title 24, C.R.S., including but not limited to the power to
receive state sales tax increment revenue and to disburse and otherwise utilize
such revenue for all lawful purposes pursuant to part 3 of article 4 of title 24, C.R.S.
Such lawful purposes shall include but need not be limited to the financing of
eligible costs and the design, construction, maintenance, and operation of eligible
improvements as defined in section 24-46-303 (5), C.R.S., or otherwise incorporated
into the Colorado economic development commission's conditions of approval
pursuant to part 3 of article 46 of title 24, C.R.S.

(2) Notwithstanding any provision of section 32-1-207 or of the metropolitan
district's service plan, authorization to receive state sales tax increment revenue
pursuant to part 3 of article 46 of title 24, C.R.S., shall not be considered a material
modification to the plan and corresponding changes to the plan may be made by
the governing body to incorporate the use of state sales tax increment revenue of
the metropolitan district without the requirement of petition to or approval by the
board of county commissioners or the governing body of the municipality, as
applicable.

(3) Any metropolitan district receiving state sales tax increment revenue,
whether pursuant to designation as a financing entity pursuant to part 3 of article
46 of title 24, C.R.S., or pursuant to a contract entered into with any such entity,
shall not use the state sales tax increment revenue to acquire property through the
exercise of eminent domain.

Legislative History

Source: L. 2009: Entire section added, (SB 09-173), ch. 434, p. 2419, � 4, effective June 4.