§ 43-4-709 — Powers of political subdivisions

Colorado § 43-4-709

• Jurisdiction: Colorado
• Title 43: Transportation
• Art.: Financing

Text

(1) A political subdivision, for
the purpose of aiding and cooperating in the financing, construction, operation, or
maintenance of any qualified federal aid transportation project, has the power:

(a) To sell, lease, loan, donate, grant, convey, assign, or otherwise transfer to
the department any real or personal property or interests therein;

(b) To enter into agreements with any person for the joint financing,
construction, operation, or maintenance of any qualified federal aid transportation
project. Upon compliance with applicable constitutional or charter limitations, the
political subdivision may agree to make payments, without limitation as to amount
except as set forth in the agreement, from revenues received in one or more fiscal
years to the department or any person to defray the costs of the financing,
construction, operation, or maintenance of any qualified federal aid transportation
project.

(c) To transfer or assign to the department any contracts that may have been
awarded by the political subdivision for construction, operation, or maintenance of
any qualified federal aid transportation project.

(2) To assist in the financing, construction, operation, or maintenance of a
qualified federal aid transportation project, any political subdivision may, by
contract, pledge to the department all or a portion of federal transportation funds
paid to the political subdivision, the revenues the political subdivision receives from
the highway users tax fund, or the revenues from any other legally available source.

Legislative History

Source: L. 99: Entire part added, p. 1116, � 1, effective June 2.