§ 33-60-101 — Legislative declaration

(1) The general assembly hereby
declares that the policies and procedures contained in this article are enacted to
facilitate the orderly implementation of article XXVII of the state constitution,
adopted at the 1992 general election. The general assembly further declares that
the payment of debt service on all obligations due from the fourth quarter of fiscal
year 1992-93 through the fourth quarter of fiscal year 1997-98 which are set forth
in section 3 (1)(c) of article XXVII of the state constitution are intended to be paid in
full from net lottery proceeds. Accordingly, the general assembly finds that
legislation which sets forth an orderly method for ensuring that such payments are
made in a timely manner is necessary and that the orderly implementation of article
XXVII of the state constitution promotes the health, safety, security, and general
welfare of the people of the state of Colorado.

(2) The general assembly further declares that the powers granted to the
trust fund board to issue bonds and to pledge any moneys deposited or to be
deposited into the trust fund for the payment of such bonds are in furtherance of
and are consistent with the powers granted to the board created by article XXVII of
the Colorado constitution.

Legislative History

Source: L. 93: Entire article added, p. 2019, � 1, effective June 9. L. 2001: Entire section amended, p. 904, � 1, effective June 1.