Colorado § 32-8-124.7 Property of Moffat tunnel improvement district

Colorado Statutes

§ 32-8-124.7 — Property of Moffat tunnel improvement district

Colorado § 32-8-124.7

Title 32Special

Art.Moffat Tunnel Improvement District

This text of Colorado § 32-8-124.7 (Property of Moffat tunnel improvement district) 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. § 32-8-124.7 (2026).

Text

(1)(a) The department has authority to convey or transfer ownership of all tangible property, real and personal, or any interest therein owned by the district for fair market value and for less than fair market value, if the department finds such a conveyance and transfer is in the public interest.

(b)The purchaser of any real property or interest therein of the district, whether the purchaser is a current user or any other party, shall take the property subject to then existing leases, contracts for use, licenses, or other encumbrances on or obligations relating to the property and the right of the district, and its successors and assigns, to reasonable access across the interests conveyed for access to the tunnel.

(2)Proceeds from any conveyance shall be used first for the

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(1) (a) The
department has authority to convey or transfer ownership of all tangible property,
real and personal, or any interest therein owned by the district for fair market value
and for less than fair market value, if the department finds such a conveyance and
transfer is in the public interest.

(b) The purchaser of any real property or interest therein of the district,
whether the purchaser is a current user or any other party, shall take the property
subject to then existing leases, contracts for use, licenses, or other encumbrances
on or obligations relating to the property and the right of the district, and its
successors and assigns, to reasonable access across the interests conveyed for
access to the tunnel.

(2) Proceeds from any conveyance shall be used first for the expenses of the
conveyance. Expenses of conveyance, including administrative costs incurred by
the state and legal and other costs incurred in connection with the sale of the
property of the district, shall not in the aggregate exceed four percent of the
purchase price of the property being conveyed. Any remaining proceeds shall be
immediately transferred to the counties and the city and county of Denver included,
in whole or in part, in the district as specified in section 32-8-102, in such proportion
as the total amount of taxes and assessments received by the district from each
county or the city and county of Denver and its taxpayers since the district's
creation is to the total of all taxes and assessments received by the district from
those sources since the district's creation. Proceeds may be transferred directly to
the counties and the city and county of Denver in conjunction with the closing of the
sale of the property of the district, or they may be credited first to the cash fund
created in section 32-8-126 before being immediately transferred to the counties
and the city and county of Denver.

(3) The department may adopt reasonable procedures consistent with this
article for the disposition of property of the district. All dispositions shall be made
at fair market value and unencumbered except to the extent provided in paragraph
(b) of subsection (1) of this section. All conveyances of property shall be made in the
name of the Moffat tunnel improvement district, by and through the department of
local affairs of the state of Colorado acting as the Moffat tunnel commission under
authority of section 32-8-124.7, C.R.S.

Legislative History

Source: L. 2002: Entire section added with relocated provisions, p. 1073, � 5, effective August 7. L. 2024: (1)(a) amended, (SB 24-190), ch. 280, p. 1861, � 4, effective August 7.