§ 44-40-105 — Executive director - duties

Colorado § 44-40-105

• Jurisdiction: Colorado
• Title 44: Revenue -
• Art.: State Lottery Division

Text

(1) It shall be the executive
director's duty:

(a) To enter into contracts for materials, equipment, and supplies to be used
in the operation of the lottery, for the design and installation of games or lotteries,
and for promotion of the lottery. No contract shall be legal or enforceable that
provides for the management of the lottery or for the entire operation of its games
by any private person, firm, or corporation, because management of the lottery and
control over the operation of its games shall remain with the state; except that
management of and control over the operation of a multistate lottery shall be
determined by the terms of a multistate agreement. Except for advertising and
promotional contracts, when a contract other than a multistate agreement is
awarded, a performance bond satisfactory to the executive director, executed by a
surety company authorized to do business in this state or otherwise secured in a
manner satisfactory to the state, in an amount set annually by the executive
director shall be delivered to the state and shall become binding on the parties
upon execution of the contract.

(b) To annually prepare and submit to the commission a proposed budget for
the ensuing fiscal year, which budget shall present a complete financial plan
setting forth all proposed expenditures and anticipated revenues of the division.
The fiscal year of the division shall commence on July 1 and end on June 30 of each
year.

Legislative History

Source: L. 2018: Entire article added with relocations, (HB 18-1027), ch. 31, p. 338, � 2, effective October 1.