Colorado § 43-4-614 Notice - coordination of information

Colorado Statutes

§ 43-4-614 — Notice - coordination of information

Colorado·Title 43 Transportation·Art. Financing

(1)(a) At least forty-five days prior to the creation of any authority pursuant to this part 6, a notice containing the proposed boundaries of the authority and the methods proposed for financing regional transportation systems in the authority shall be sent to the division and to the department of revenue.

(b)At least forty-five days prior to the imposition of or any increase in any fee or tax or prior to the issuance of any bonds authorized in this part 6, a notice specifying the amount of the fee or tax and its proposed duration or the value and number of bonds to be issued shall be sent to the division. The notice required by this paragraph (b) is not necessary if the required information has previously been provided in the notice required by paragraph (a) of this subsectio

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(1) (a) At least forty-five
days prior to the creation of any authority pursuant to this part 6, a notice
containing the proposed boundaries of the authority and the methods proposed for
financing regional transportation systems in the authority shall be sent to the
division and to the department of revenue.

(b) At least forty-five days prior to the imposition of or any increase in any
fee or tax or prior to the issuance of any bonds authorized in this part 6, a notice
specifying the amount of the fee or tax and its proposed duration or the value and
number of bonds to be issued shall be sent to the division. The notice required by
this paragraph (b) is not necessary if the required information has previously been
provided in the notice required by paragraph (a) of this subsection (1).

(c) At the time the notice required in paragraph (a) or (b) of this subsection (1)
is sent to the division, a copy of the notice shall be filed with the state auditor and
the transportation commission.

(2) The division shall forward copies of any such notice to the department of
transportation if the division determines that the proposed authority or the tax, fee,
or bonds will have an impact on any operations of that department.

(3) (a) The division shall file an annual report with the state auditor and
transportation commission concerning the activities of authorities created pursuant
to this part 6. The report shall detail how many authorities have been created,
describe their boundaries, and specify the regional transportation systems that are
being provided and how they are being financed.

(b) The division shall notify the state auditor and the transportation
commission either in the report required by paragraph (a) of this subsection (3) or
by letter, if it deems that immediate notification is warranted, of any situation
relating to the creation of an authority, the imposition of any fee or tax, or the
issuance of any bonds by an authority that the division believes or has reason to
believe will adversely affect the tax-raising ability or the credit or bond rating of
any governmental unit.

(4) The board and staff of the authority shall cooperate with the
transportation legislation review committee in carrying out the committee's duties
pursuant to section 43-2-145 (1.9).

Colorado § 43-4-614 (Notice - coordination of information) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 97: Entire part added, p. 496, � 1, effective August 6. L. 2002: (1)(a) and (4) amended, p. 874, � 15, effective August 7. L. 2005: (1)(a) and (3)(a) amended, p. 1068, � 13, effective January 1, 2006.