NOTE: This bill has been prepared for the signature of the appropriate legislative
officers and the Governor. To determine whether the Governor has signed the bill
or taken other action on it, please consult the legislative status sheet, the legislative
history, or the Session Laws.
HOUSE BILL 08-1350
BY REPRESENTATIVE(S) Madden, Borodkin, Carroll M., Fischer,
Frangas, Green, Hodge, Kefalas, Kerr A., Labuda, Massey, McFadyen,
Merrifield, Middleton, Peniston, Primavera, Rice, Riesberg, Romanoff,
Solano, Stafford, Summers, Todd, and Rose;
also SENATOR(S) Romer, Bacon, Boyd, Gibbs, Keller, Kester, Schwartz,
Shaffer, Tupa, and Williams.
CONCERNING THE FACILITATION OF THE FINANCING OF RENEWABLE ENERGY.
Be it enacted by the General Assembly of the State of Colorado:
SECTION 1. 40-9.7-102 (2), Colorado Revised Statutes, is
amended to read:
40-9.7-102. Legislative declaration. (2) The general assembly
further finds and declares that the purpose of this article is to create the
Colorado clean energy development authority and to endow the authority
with powers sufficient to enable it to:
(a) Facilitate the production and consumption of clean energy; and
(b) Increase the transmission and use of clean energy by financing
and refinancing projects located within or outside the state for the
________
Capital letters indicate new material added to existing statutes; dashes through words indicate
deletions from existing statutes and such material not part of act.
production, transportation, transmission, and storage of clean energy,
including pipelines, and related supporting infrastructure and interests
therein; AND
(c) FACILITATE THE EFFICIENT USE OF ENERGY.
SECTION 2. 40-9.7-103, Colorado Revised Statutes, is amended
BY THE ADDITION OF THE FOLLOWING NEW SUBSECTIONS to
read:
40-9.7-103. Definitions. As used in this article, unless the context
otherwise requires:
(5.5) "ENERGY EFFICIENCY IMPROVEMENT" MEANS AN INSTALLATION
OR MODIFICATION THAT IS DESIGNED TO REDUCE ENERGY CONSUMPTION IN
RESIDENTIAL OR COMMERCIAL BUILDINGS AND INCLUDES ANY OTHER
MODIFICATION, INSTALLATION, OR REMODELING AUTHORIZED AS A UTILITY
COST-SAVINGS MEASURE BY THE BOARD.
(13.5) "RENEWABLE ENERGY IMPROVEMENT" MEANS ANY FIXTURE,
PRODUCT, SYSTEM, DEVICE, OR INTERACTING GROUP OF DEVICES INSTALLED
BEHIND THE METER OF ANY RESIDENTIAL OR COMMERCIAL BUILDING THAT
PRODUCES ENERGY FROM RENEWABLE RESOURCES, INCLUDING, BUT NOT
LIMITED TO, PHOTOVOLTAIC SYSTEMS, SOLAR THERMAL SYSTEMS, SMALL
WIND SYSTEMS, BIOMASS SYSTEMS, OR GEOTHERMAL SYSTEMS, AS MAY BE
AUTHORIZED BY THE BOARD; EXCEPT THAT NO RENEWABLE ENERGY
IMPROVEMENT SHALL BE AUTHORIZED THAT INTERFERES WITH A RIGHT HELD
BY A PUBLIC UTILITY UNDER A CERTIFICATE ISSUED BY THE PUBLIC UTILITIES
COMMISSION UNDER ARTICLE 5 OF THIS TITLE. THE PUBLIC UTILITIES
COMMISSION SHALL HAVE PRIMARY JURISDICTION TO ADJUDICATE DISPUTES
AS TO WHETHER A RENEWABLE ENERGY IMPROVEMENT INTERFERES WITH
SUCH A RIGHT.
SECTION 3. 40-9.7-103 (10), Colorado Revised Statutes, is
amended BY THE ADDITION OF A NEW PARAGRAPH to read:
40-9.7-103. Definitions. As used in this article, unless the context
otherwise requires:
(10) (c) "PROJECT" ALSO MEANS ANY RENEWABLE ENERGY
PAGE 2-HOUSE BILL 08-1350
IMPROVEMENT OR ENERGY EFFICIENCY IMPROVEMENT.
SECTION 4. 29-3-103 (10) (k) and (10) (l), Colorado Revised
Statutes, are amended, and the said 29-3-103 (10) is further amended BY
THE ADDITION OF A NEW PARAGRAPH, to read:
29-3-103. Definitions. As used in this article, unless the context
otherwise requires:
(10) "Project" means any land, building, or other improvement and
all real or personal properties, and any undivided or other interest in any of
the foregoing, except inventories and raw materials, whether or not in
existence, suitable or used for or in connection with any of the following:
(k) Research, product-testing, and administrative facilities; and
(l) Facilities for private and not-for-profit institutions of higher
education; AND
(m) CAPITAL IMPROVEMENTS TO EXISTING RESIDENTIAL,
COMMERCIAL, OR INDUSTRIAL STRUCTURES TO RETROFIT SUCH STRUCTURES
FOR SIGNIFICANT ENERGY SAVINGS OR INSTALLATION OF SOLAR OR OTHER
ALTERNATIVE ELECTRICAL ENERGY-PRODUCING IMPROVEMENTS TO SERVE
THAT STRUCTURE OR OTHER STRUCTURES ON CONTIGUOUS PROPERTY UNDER
COMMON OWNERSHIP.
SECTION 5. 30-11-107 (1) (ii), Colorado Revised Statutes, is
amended, and the said 30-11-107 (1) is further amended BY THE
ADDITION OF A NEW PARAGRAPH, to read:
30-11-107. Powers of the board. (1) The board of county
commissioners of each county has power at any meeting:
(ii) To provide in the county budget for programs that support
education and outreach on environmental sustainability AND FOR FINANCING
CAPITAL IMPROVEMENTS FOR ENERGY EFFICIENCY RETROFITS AND THE
INSTALLATION OF RENEWABLE ENERGY FIXTURES, AS DEFINED IN SECTION
30-11-107.3, FOR PRIVATE RESIDENCES AND COMMERCIAL PROPERTY within
the county but THAT do not exempt the county from the requirements of any
other statute;
PAGE 3-HOUSE BILL 08-1350
(jj) TO ENCOURAGE HOMEOWNERS TO PARTICIPATE IN UTILITY
DEMAND-SIDE MANAGEMENT PROGRAMS WHERE APPLICABLE.
SECTION 6. 30-11-107.3 (2) (b), Colorado Revised Statutes, is
amended to read:
30-11-107.3. Incentives for installation of renewable energy
fixtures - definitions. (2) For purposes of this section, unless the context
otherwise requires:
(b) "Renewable energy fixture" means any fixture, product, system,
device, or interacting group of devices INSTALLED BEHIND THE METER OF
ANY RESIDENTIAL OR COMMERCIAL BUILDING that produces electricity
ENERGY from renewable resources, including, but not limited to,
photovoltaic systems, solar thermal systems, small wind systems, biomass
systems, or geothermal systems.
SECTION 7. The introductory portion to 40-9.7-108 (1), Colorado
Revised Statutes, is amended to read:
40-9.7-108. Colorado clean energy development authority fund
- creation - authorization of projects. (1) The AUTHORITY SHALL CREATE
A Colorado clean energy development authority fund is hereby created in
the state treasury IN A FINANCIAL INSTITUTION WITHIN OR OUTSIDE THE
STATE. The following moneys, together with any other moneys
appropriated by the general assembly, shall be credited to the fund subject
to agreements with the holders of bonds, financing agreements, contracts,
agreements, or other obligations of the authority authorized by this article:
SECTION 8. Part 6 of article 20 of title 30, Colorado Revised
Statutes, is amended BY THE ADDITION OF A NEW SECTION to read:
30-20-601.5. Legislative declaration - inclusion of energy
efficiency and renewable energy production projects in local
improvement districts. (1) THE GENERAL ASSEMBLY FINDS, DETERMINES,
AND DECLARES THAT:
(a) THE PRODUCTION AND EFFICIENT USE OF ENERGY WILL CONTINUE
TO PLAY A CENTRAL ROLE IN THE FUTURE OF THIS STATE AND THE NATION AS
A WHOLE; AND
PAGE 4-HOUSE BILL 08-1350
(b) THE DEVELOPMENT, PRODUCTION, AND EFFICIENT USE OF
RENEWABLE ENERGY WILL ADVANCE THE SECURITY, ECONOMIC WELL-BEING,
AND PUBLIC AND ENVIRONMENTAL HEALTH OF THIS STATE, AS WELL AS
CONTRIBUTING TO THE ENERGY INDEPENDENCE OF OUR NATION.
(2) THE GENERAL ASSEMBLY FURTHER FINDS, DETERMINES, AND
DECLARES THAT THE INCLUSION OF ENERGY EFFICIENCY AND RENEWABLE
ENERGY PRODUCTION PROJECTS FOR RESIDENTIAL AND COMMERCIAL USE IN
LOCAL IMPROVEMENT DISTRICTS, AND POWERS CONFERRED UNDER THIS PART
6, AS WELL AS THE EXPENDITURES OF PUBLIC MONEYS MADE PURSUANT TO
THIS ARTICLE, WILL SERVE A VALID PUBLIC PURPOSE AND THAT THE
ENACTMENT OF THIS PART 6 IS EXPRESSLY DECLARED TO BE IN THE PUBLIC
INTEREST.
SECTION 9. 30-20-602, Colorado Revised Statutes, is amended
BY THE ADDITION OF THE FOLLOWING NEW SUBSECTIONS to
read:
30-20-602. Definitions. As used in this part 6, unless the context
otherwise requires:
(2.8) "ENERGY EFFICIENCY IMPROVEMENT" MEANS AN INSTALLATION
OR MODIFICATION THAT IS DESIGNED TO REDUCE ENERGY CONSUMPTION IN
RESIDENTIAL OR COMMERCIAL BUILDINGS AND INCLUDES, BUT IS NOT
LIMITED TO, THE FOLLOWING:
(a) INSULATION IN WALLS, ROOFS, FLOORS, AND FOUNDATIONS AND
IN HEATING AND COOLING DISTRIBUTION SYSTEMS;
(b) STORM WINDOWS AND DOORS, MULTIGLAZED WINDOWS AND
DOORS, HEAT-ABSORBING OR HEAT-REFLECTIVE GLAZED AND COATED
WINDOW AND DOOR SYSTEMS, ADDITIONAL GLAZING, REDUCTIONS IN GLASS
AREA, AND OTHER WINDOW AND DOOR SYSTEM MODIFICATIONS THAT
REDUCE ENERGY CONSUMPTION;
(c) AUTOMATIC ENERGY CONTROL SYSTEMS;
(d) HEATING,VENTILATING, OR AIR CONDITIONING AND
DISTRIBUTION SYSTEM MODIFICATIONS OR REPLACEMENTS IN BUILDINGS OR
CENTRAL PLANTS;
PAGE 5-HOUSE BILL 08-1350
(e) CAULKING AND WEATHERSTRIPPING;
(f) REPLACEMENT OR MODIFICATION OF LIGHTING FIXTURES TO
INCREASE THE ENERGY EFFICIENCY OF THE SYSTEM WITHOUT INCREASING
THE OVERALL ILLUMINATION OF A RESIDENTIAL OR COMMERCIAL BUILDING
UNLESS SUCH INCREASE IN ILLUMINATION IS NECESSARY TO CONFORM TO
THE APPLICABLE BUILDING CODE FOR THE PROPOSED LIGHTING SYSTEM;
(g) ENERGY RECOVERY SYSTEMS;
(h) DAYLIGHTING SYSTEMS; AND
(i) ANY OTHER MODIFICATION, INSTALLATION, OR REMODELING
APPROVED AS A UTILITY COST-SAVINGS MEASURE BY THE BOARD.
(4.7) "RENEWABLE ENERGY IMPROVEMENT" MEANS A FIXTURE,
PRODUCT, SYSTEM, DEVICE, OR INTERACTING GROUP OF DEVICES INSTALLED
BEHIND THE METER OF ANY RESIDENTIAL AND COMMERCIAL BUILDING THAT
PRODUCES ENERGY FROM RENEWABLE RESOURCES, INCLUDING, BUT NOT
LIMITED TO, PHOTOVOLTAIC SYSTEMS, SOLAR THERMAL SYSTEMS, SMALL
WIND SYSTEMS, BIOMASS SYSTEMS, OR GEOTHERMAL SYSTEMS, AS MAY BE
INCLUDED IN THE APPROVAL OF THE DISTRICT BY THE BOARD; EXCEPT THAT
NO RENEWABLE ENERGY IMPROVEMENT SHALL BE AUTHORIZED THAT
INTERFERES WITH A RIGHT HELD BY A PUBLIC UTILITY UNDER A CERTIFICATE
ISSUED BY THE PUBLIC UTILITIES COMMISSION UNDER ARTICLE 5 OF TITLE 40,
C.R.S. THE PUBLIC UTILITIES COMMISSION SHALL HAVE PRIMARY
JURISDICTION TO ADJUDICATE DISPUTES AS TO WHETHER A RENEWABLE
ENERGY IMPROVEMENT INTERFERES WITH SUCH A RIGHT.
SECTION 10. 30-20-603 (1), Colorado Revised Statutes, is
amended BY THE ADDITION OF A NEW PARAGRAPH to read:
30-20-603. Improvements authorized - how instituted -
conditions. (1) (e) THE IMPROVEMENTS AUTHORIZED BY THIS PART 6 MAY
INCLUDE, WHERE SPECIFIED OR GENERALLY PROVIDED FOR IN THE
RESOLUTION OF THE BOARD APPROVING THE DISTRICT, ANY RENEWABLE
ENERGY IMPROVEMENT OR ENERGY EFFICIENCY IMPROVEMENT TO ANY
RESIDENTIAL OR COMMERCIAL PROPERTY WITHIN THE DISTRICT.
SECTION 11. 30-20-603, Colorado Revised Statutes, is amended
PAGE 6-HOUSE BILL 08-1350
BY THE ADDITION OF A NEW SUBSECTION to read:
30-20-603. Improvements authorized - how instituted -
conditions. (11.5) ANY OTHER PROVISION OF THIS PART 6
NOTWITHSTANDING, THE BOARD MAY INITIATE AN IMPROVEMENT DISTRICT
FOR THE PURPOSE OF ENCOURAGING, ACCOMMODATING, AND FINANCING
IMPROVEMENTS OF A CHARACTER AUTHORIZED BY PARAGRAPH (e) OF
SUBSECTION (1) OF THIS SECTION. ANY SUCH DISTRICT SHALL INCLUDE ONLY
PROPERTY FOR WHICH THE OWNER HAS EXECUTED A CONTRACT OR
AGREEMENT CONSENTING TO THE INCLUSION OF SUCH PROPERTY WITHIN THE
DISTRICT, AND SUCH CONSENT MAY OCCUR SUBSEQUENT TO THE ADOPTION
OF THE RESOLUTION OF THE BOARD FORMING THE DISTRICT. THE INCLUSION
OF SUCH PROPERTY WITHIN THE DISTRICT SUBSEQUENT TO THE ADOPTION OF
THE RESOLUTION OF THE BOARD FORMING THE DISTRICT MAY BE MADE BY
THE ADOPTION OF A SUPPLEMENTAL OR AMENDING RESOLUTION OF THE
BOARD. FOR DISTRICTS FORMED FOR THE PURPOSE OF ENCOURAGING,
ACCOMMODATING, AND FINANCING RENEWABLE ENERGY IMPROVEMENTS OR
ENERGY EFFICIENCY IMPROVEMENTS, THE PROVISIONS OF SUBSECTIONS (4)
AND (5) OF THIS SECTION CONCERNING COMPETITIVE BIDDING AND
PRELIMINARY PLANS AND SPECIFICATIONS, OF SECTION 30-20-601
CONCERNING CONSTRUCTION UNDER THE DIRECTION OF COUNTY OFFICERS,
OF SECTION 30-20-622 CONCERNING CONTRACTS FOR CONSTRUCTION, AND
OF SECTION 30-20-623 CONCERNING CONTRACT PROVISIONS SHALL NOT
APPLY. FOR SUCH DISTRICTS, THE OWNER OF PROPERTY WITHIN A DISTRICT
MAY ARRANGE IMPROVEMENTS THAT QUALIFY PURSUANT TO THE
RESOLUTION OF THE BOARD AUTHORIZING IMPROVEMENTS FOR THE DISTRICT
AND MAY OBTAIN FINANCING FOR SAID IMPROVEMENTS FROM THE DISTRICT
THROUGH THE PROCESS SET FORTH IN THE RESOLUTION FORMING THE
DISTRICT.
SECTION 12. 30-20-604, Colorado Revised Statutes, is amended
BY THE ADDITION OF A NEW SUBSECTION to read:
30-20-604. Cost assessed in accordance with benefits. (4) ANY
DISTRICT FORMED FOR THE PURPOSE OF ENCOURAGING, ACCOMMODATING,
AND FINANCING IMPROVEMENTS AS AUTHORIZED IN SECTION 30-20-603
(11.5) SHALL ASSESS THE COSTS OF THE IMPROVEMENTS TO EACH PROPERTY
WHOSE OWNER HAS ENTERED INTO A CONTRACT OR AGREEMENT FOR THE
IMPROVEMENTS. THE CONTRACTS AND AGREEMENTS ENTERED INTO WITH
THE OWNER OF PROPERTY, AS AUTHORIZED BY THE BOARD, SHALL BE
PAGE 7-HOUSE BILL 08-1350
CONCLUSIVE REGARDING THE SPECIAL BENEFIT TO THE PROPERTY AND THE
AMOUNT THAT MAY BE ASSESSED AGAINST THE PROPERTY.
SECTION 13. 30-20-606, Colorado Revised Statutes, is amended
BY THE ADDITION OF A NEW SUBSECTION to read:
30-20-606. Determination of special benefits - factors
considered. (2) AS USED IN CONNECTION WITH ANY DISTRICT FORMED FOR
THE PURPOSE OF ENCOURAGING, ACCOMMODATING, AND FINANCING
IMPROVEMENTS AS AUTHORIZED IN SECTION 30-20-603 (11.5), THE TERM
"BENEFIT" SHALL INCLUDE, BUT NOT BE LIMITED TO, ANY ACKNOWLEDGED
VALUE SET FORTH IN THE CONTRACTS AND AGREEMENTS ENTERED INTO BY
THE OWNER OF THE ASSESSED PROPERTY.
SECTION 14. 30-20-608, Colorado Revised Statutes, is amended
BY THE ADDITION OF A NEW SUBSECTION to read:
30-20-608. Notice of apportionment. (2) ANY DISTRICT FORMED
FOR THE PURPOSE OF ENCOURAGING, ACCOMMODATING, AND FINANCING
IMPROVEMENTS AS AUTHORIZED IN SECTION 30-20-603 (11.5) SHALL NOT BE
REQUIRED TO PROVIDE A NOTICE OF APPORTIONMENT BY PUBLICATION;
RATHER, SUCH NOTICE, IF ANY, MAY BE PROVIDED IN THE TIME AND MANNER
SET FORTH IN THE CONTRACT OR AGREEMENT ENTERED INTO FOR EACH
PROPERTY INCLUDED IN THE DISTRICT.
SECTION 15. 30-20-610, Colorado Revised Statutes, is amended
BY THE ADDITION OF THE FOLLOWING NEW SUBSECTIONS to
read:
30-20-610. Assessment constitutes a lien - filing with county
clerk and recorder - corrections. (4) TO PROVIDE FOR UNANTICIPATED
INCREASES IN THE COSTS OF IMPROVEMENTS, THE AMOUNT OF ANY
ASSESSMENT IMPOSED BEFORE THE COMPLETION OF THE RELATED
IMPROVEMENTS MAY BE INCREASED TO A TOTAL AMOUNT NOT IN EXCESS OF
THE SPECIAL BENEFIT CONFERRED UPON THE AFFECTED PROPERTY IF, NOT
MORE THAN NINETY DAYS FOLLOWING THE COMPLETION OF SUCH
IMPROVEMENTS, THE BOARD GIVES NOTICE OF ITS INTENT TO CONSIDER THE
AMENDMENT OF SUCH ASSESSMENT, STATING THE TIME AND PLACE THAT A
PUBLIC HEARING SHALL BE HELD THEREON, AND HOLDS SUCH PUBLIC
HEARING, IN THE SAME MANNER AS PROVIDED FOR HEARINGS HELD
PAGE 8-HOUSE BILL 08-1350
PURSUANT TO SECTIONS 30-20-608 AND 30-20-609. AT THE CONCLUSION OF
SUCH PUBLIC HEARING, THE BOARD MAY DETERMINE WHETHER TO AMEND
ONE OR MORE ASSESSMENTS WITHIN A DISTRICT. ANY SUCH AMENDMENT
SHALL TAKE EFFECT AS OF THE DATE OF THE ORIGINAL ASSESSMENT.
(5) IF,
AS THE RESULT OF ANY SUBDIVISION, RESUBDIVISION,
VACATION OF RIGHT-OF-WAY, OR OTHER ACTION TAKEN SUBSEQUENT TO THE
ADOPTION OF THE ASSESSMENT RESOLUTION, ANY NEW LOT OR PARCEL IS
CREATED WITHIN A DISTRICT, THE BOARD MAY, WITHOUT A PUBLIC HEARING
AND WITH THE CONSENT OF THE OWNER OF THE NEW LOT OR PARCEL, MODIFY
THE ASSESSMENT RESOLUTION TO REAPPORTION ALL OR ANY PART OF THE
TOTAL AMOUNT ASSESSED IN THE DISTRICT TO SUCH NEW LOT OR PARCEL.
SECTION 16. 30-20-612, Colorado Revised Statutes, is amended
to read:
30-20-612. When assessments payable - installments. All special
assessments for local improvements shall be due and payable within thirty
days after the effective date of the assessing resolution without demand, but
all such assessments may be paid, at the election of the owner, in
installments with interest as provided in section 30-20-614. ALL SPECIAL
ASSESSMENTS FOR LOCAL IMPROVEMENTS AUTHORIZED IN SECTION
30-20-603 (11.5) MAY BE DUE AND PAYABLE AT SUCH ALTERNATE TIME OR
TIMES AS SET FORTH IN THE ASSESSING RESOLUTION.
SECTION 17. 30-20-613, Colorado Revised Statutes, is amended
to read:
30-20-613. Effect of payment in installments. Failure to pay the
whole assessment within said period of thirty days shall be conclusively
considered and held to be an election on the part of all persons interested,
whether under disability or otherwise, to pay in such installments. All
persons so electing to pay in installments shall be conclusively held and
considered as consenting to said improvements. Such election shall be
conclusively held and considered as a waiver of any right to question the
power or jurisdiction of the county to construct the improvements, the
quality of the work, the regularity or sufficiency of the proceedings, the
validity or the correctness of the assessments, or the validity of the lien
thereof; EXCEPT THAT, WITH RESPECT TO LOCAL IMPROVEMENTS
AUTHORIZED IN SECTION 30-20-603 (11.5), THE OWNER FOR EACH PROPERTY
PAGE 9-HOUSE BILL 08-1350
INCLUDED IN THE DISTRICT SHALL RETAIN ALL RIGHTS OTHERWISE EXISTING
BY CONTRACT OR BY LAW AGAINST PARTIES OTHER THAN THE COUNTY WITH
RESPECT TO THE FINANCED ENERGY EFFICIENCY IMPROVEMENT OR
RENEWABLE ENERGY IMPROVEMENT.
SECTION 18. 30-20-614, Colorado Revised Statutes, is amended
to read:
30-20-614. How installments paid - interest. In case of such
election to pay in installments, the assessments shall be payable in two or
more installments of principal, the first of which installments shall be
payable as prescribed by the board in not more than five years and the last
in not more than twenty years, with interest in all cases on the unpaid
principal. The number and amounts of payment of installments, the period
of payment, and the rate and times of payment of interest shall be
determined by the board and set forth in the assessing resolution. The times
of payment of installments shall be the same as the times of payment for
installments of property taxes as specified in section 39-10-104.5 (2),
C.R.S.; EXCEPT THAT ALL SPECIAL ASSESSMENTS FOR LOCAL IMPROVEMENTS
AUTHORIZED IN SECTION 30-20-603 (11.5) MAY BE PAYABLE AT SUCH
ALTERNATE TIMES AS PROVIDED BY THE BOARD IN THE ASSESSING
RESOLUTION AND THE BOARD MAY ENTER INTO AGREEMENTS WITH THIRD
PARTIES TO ASSIST THE TREASURER WITH THE ADMINISTRATION AND
COLLECTION OF SUCH INSTALLMENTS.
SECTION 19. 30-20-619 (1) and (2), Colorado Revised Statutes,
are amended, and the said 30-20-619 is further amended BY THE
ADDITION OF A NEW SUBSECTION, to read:
30-20-619. Issuing bonds - property specially benefited. (1) For
the purpose of paying all or such portion of the cost of any improvement
constructed or acquired under the provisions of this part 6 as may be
assessed against the property specially benefited and not paid by the sales
tax authorized by section 30-20-604.5 or by the county, special assessment
bonds of the county may be issued, of such date, in such form, and on such
terms, including, without limitation, provisions for their sale, payment, and
redemption, as may be prescribed by the board, bearing the name of the
street or district improved and payable in a sufficient period of years after
SUCH date to cover the period of payment provided, and in convenient
denominations. All such bonds shall be issued upon estimates approved by
PAGE 10-HOUSE BILL 08-1350
the board, and the county treasurer shall preserve a record of the same in a
suitable book kept for that purpose. All such bonds shall be subscribed by
the chairman CHAIR of the board, countersigned by the county treasurer,
with the county seal thereto affixed, and attested by the county clerk and
recorder. Such bonds shall be payable out of the moneys collected on
account of the assessments made for said improvements, FROM RESERVE
ACCOUNTS, IF ANY, ESTABLISHED TO SECURE THE PAYMENT OF SUCH BONDS,
AND FROM ANY OTHER LEGALLY AVAILABLE MONEYS. All moneys collected
from such assessments for any improvement shall be applied to the payment
of the bonds issued, until payment in full is made of all the bonds, both
principal and interest, OR TO FUND OR REPLENISH RESERVE ACCOUNTS, IF
ANY, ESTABLISHED TO SECURE THE PAYMENT OF SUCH BONDS. The bonds
may be sold, under such terms and conditions as are established by the
board, in such amounts as will be sufficient to pay for the cost of the
improvements.
(2) Whenever three-fourths of the bonds issued pursuant to
subsection (1) of this section for an improvement constructed under the
provisions of this part 6 have been paid and cancelled and for any reason
the ANY remaining assessments are not paid in time to pay the remaining
bonds for the district and the interest due thereon, the county shall MAY pay,
if so provided in the resolution authorizing issuance of the bonds FROM
LEGALLY AVAILABLE MONEYS, the bonds when due and the interest due
thereon and shall MAY reimburse itself by collecting the unpaid assessments
due the district.
(8) NOTWITHSTANDING ANY OTHER PROVISION OF THIS PART 6, ANY
DISTRICT FORMED FOR THE PURPOSE OF ENCOURAGING, ACCOMMODATING,
AND FINANCING IMPROVEMENTS AS AUTHORIZED IN SECTION 30-20-603
(11.5) MAY BE AUTHORIZED TO ISSUE ONE OR MORE SERIES OF BONDS, AND
BONDS OF ANY SUCH DISTRICT MAY BE PAYABLE FROM THE ASSESSMENTS
LEVIED PURSUANT TO ONE OR MORE ASSESSMENT RESOLUTIONS.
SECTION 20. 31-15-711 (1), Colorado Revised Statutes, is
amended BY THE ADDITION OF THE FOLLOWING NEW
PARAGRAPHS to read:
31-15-711. Other public improvements. (1) The governing body
of each municipality has the power:
PAGE 11-HOUSE BILL 08-1350
(j) TO PROVIDE IN THE MUNICIPAL BUDGET FOR PROGRAMS THAT
SUPPORT EDUCATION AND OUTREACH ON ENVIRONMENTAL SUSTAINABILITY
AND FOR FINANCING CAPITAL IMPROVEMENTS FOR ENERGY EFFICIENCY
RETROFITS AND THE INSTALLATION OF RENEWABLE ENERGY FIXTURES, AS
DEFINED IN SECTION 30-11-107.3, FOR PRIVATE RESIDENCES AND
COMMERCIAL PROPERTY WITHIN THE MUNICIPALITY BUT THAT DO NOT
EXEMPT THE MUNICIPALITY FROM THE REQUIREMENTS OF ANY OTHER
STATUTE;
(k) TO ENCOURAGE HOMEOWNERS TO PARTICIPATE IN UTILITY
DEMAND-SIDE MANAGEMENT PROGRAMS WHERE APPLICABLE.
SECTION 21. Part 5 of article 25 of title 31, Colorado Revised
Statutes, is amended BY THE ADDITION OF A NEW SECTION to read:
31-25-500.2. Legislative declaration - energy efficiency and
renewable energy production projects. (1) THE GENERAL ASSEMBLY
FINDS, DETERMINES, AND DECLARES THAT:
(a) THE PRODUCTION AND EFFICIENT USE OF ENERGY WILL CONTINUE
TO PLAY A CENTRAL ROLE IN THE FUTURE OF THIS STATE AND THE NATION AS
A WHOLE; AND
(b) THEDEVELOPMENT, PRODUCTION, AND EFFICIENT USE OF
RENEWABLE ENERGY WILL ADVANCE THE SECURITY, ECONOMIC WELL-BEING,
AND PUBLIC AND ENVIRONMENTAL HEALTH OF THIS STATE, AS WELL AS
CONTRIBUTING TO THE ENERGY INDEPENDENCE OF OUR NATION.
(2) THE GENERAL ASSEMBLY FURTHER FINDS, DETERMINES, AND
DECLARES THAT THE INCLUSION OF ENERGY EFFICIENCY AND RENEWABLE
ENERGY PRODUCTION PROJECTS FOR RESIDENTIAL AND COMMERCIAL USE IN
SPECIAL IMPROVEMENT DISTRICTS, AND POWERS CONFERRED UNDER THIS
PART 5, AS WELL AS THE EXPENDITURES OF PUBLIC MONEYS MADE PURSUANT
TO THIS PART 5, WILL SERVE A VALID PUBLIC PURPOSE AND THAT THE
ENACTMENT OF THIS PART 5 IS EXPRESSLY DECLARED TO BE IN THE PUBLIC
INTEREST.
SECTION 22. 31-25-501, Colorado Revised Statutes, is amended
BY THE ADDITION OF THE FOLLOWING NEW SUBSECTIONS to
read:
PAGE 12-HOUSE BILL 08-1350
31-25-501. Definitions. As used in this part 5, unless the context
otherwise requires:
(1.9) "ENERGY EFFICIENCY IMPROVEMENT" MEANS AN INSTALLATION
OR MODIFICATION THAT IS DESIGNED TO REDUCE ENERGY CONSUMPTION IN
RESIDENTIAL OR COMMERCIAL BUILDINGS AND INCLUDES, BUT IS NOT
LIMITED TO, THE FOLLOWING:
(a) INSULATION IN WALLS, ROOFS, FLOORS, AND FOUNDATIONS AND
IN HEATING AND COOLING DISTRIBUTION SYSTEMS;
(b) STORM WINDOWS AND DOORS, MULTIGLAZED WINDOWS AND
DOORS, HEAT-ABSORBING OR HEAT-REFLECTIVE GLAZED AND COATED
WINDOW AND DOOR SYSTEMS, ADDITIONAL GLAZING, REDUCTIONS IN GLASS
AREA, AND OTHER WINDOW AND DOOR SYSTEM MODIFICATIONS THAT
REDUCE ENERGY CONSUMPTION;
(c) AUTOMATIC ENERGY CONTROL SYSTEMS;
(d) HEATING, VENTILATING, OR AIR CONDITIONING AND
DISTRIBUTION SYSTEM MODIFICATIONS OR REPLACEMENTS IN BUILDINGS OR
CENTRAL PLANTS;
(e) CAULKING AND WEATHERSTRIPPING;
(f) REPLACEMENT OR MODIFICATION OF LIGHTING FIXTURES TO
INCREASE THE ENERGY EFFICIENCY OF THE SYSTEM WITHOUT INCREASING
THE OVERALL ILLUMINATION OF A RESIDENTIAL OR COMMERCIAL BUILDING
UNLESS SUCH INCREASE IN ILLUMINATION IS NECESSARY TO CONFORM TO
THE APPLICABLE BUILDING CODE FOR THE PROPOSED LIGHTING SYSTEM;
(g) ENERGY RECOVERY SYSTEMS;
(h) DAYLIGHTING SYSTEMS; AND
(i) ANY OTHER MODIFICATION, INSTALLATION, OR REMODELING
APPROVED AS A UTILITY COST-SAVINGS MEASURE BY THE GOVERNING BODY;
EXCEPT THAT NO RENEWABLE ENERGY IMPROVEMENT SHALL BE AUTHORIZED
THAT INTERFERES WITH A RIGHT HELD BY A PUBLIC UTILITY UNDER A
CERTIFICATE ISSUED BY THE PUBLIC UTILITIES COMMISSION UNDER ARTICLE
PAGE 13-HOUSE BILL 08-1350
5 OF TITLE 40, C.R.S. THE PUBLIC UTILITIES COMMISSION SHALL HAVE
PRIMARY JURISDICTION TO ADJUDICATE DISPUTES AS TO WHETHER A
RENEWABLE ENERGY IMPROVEMENT INTERFERES WITH SUCH A RIGHT.
(4) "RENEWABLE ENERGY IMPROVEMENT" MEANS A FIXTURE,
PRODUCT, SYSTEM, DEVICE, OR INTERACTING GROUP OF DEVICES INSTALLED
BEHIND THE METER OF ANY RESIDENTIAL OR COMMERCIAL BUILDING THAT
PRODUCES ENERGY FROM RENEWABLE RESOURCES, INCLUDING, BUT NOT
LIMITED TO, PHOTOVOLTAIC SYSTEMS, SOLAR THERMAL SYSTEMS, SMALL
WIND SYSTEMS, BIOMASS SYSTEMS, OR GEOTHERMAL SYSTEMS, AS MAY BE
AUTHORIZED BY THE GOVERNING BODY.
SECTION 23. 31-25-502, Colorado Revised Statutes, is amended
to read:
31-25-502. Powers to make local improvements. (1) A district
may be formed in accordance with the requirements of this part 5 for the
purpose of constructing, installing, or acquiring any public improvement so
long as the municipality that forms the district is authorized to provide such
improvement under the municipality's home rule charter or ordinance
passed pursuant to such charter, if any, or the laws of this state. Public
improvements shall not include any facility identified in section 30-20-101
(8) or (9), C.R.S.
(2) THE IMPROVEMENTS AUTHORIZED BY THIS PART 5 MAY INCLUDE,
WHERE SO SPECIFIED OR GENERALLY PROVIDED FOR IN THE ORDINANCE OF
THE GOVERNING BODY FORMING THE DISTRICT, ANY RENEWABLE ENERGY
IMPROVEMENT OR ENERGY EFFICIENCY IMPROVEMENT TO ANY RESIDENTIAL
OR COMMERCIAL PROPERTY WITHIN THE DISTRICT.
(3) It is lawful for any municipality to construct any of the local
improvements mentioned in this part 5 and to assess the cost thereof, wholly
or in part, upon the property especially benefited by such improvements.
The improvements shall be authorized by ordinance duly adopted and shall
be constructed under the direction of the municipal engineer or other officer
having similar duties or under the direction of the governing body in
accordance with plans and specifications adopted by the governing body;
EXCEPT THAT FOR DISTRICTS FORMED FOR THE PURPOSE OF ENCOURAGING,
ACCOMMODATING, AND FINANCING RENEWABLE ENERGY IMPROVEMENTS OR
ENERGY EFFICIENCY IMPROVEMENTS, THE OWNER OF PROPERTY WITHIN A
PAGE 14-HOUSE BILL 08-1350
DISTRICT MAY ARRANGE IMPROVEMENTS THAT QUALIFY PURSUANT TO THE
ORDINANCE OF THE GOVERNING BODY AUTHORIZING IMPROVEMENTS FOR
THE DISTRICT AND MAY OBTAIN FINANCING FOR SAID IMPROVEMENTS FROM
THE DISTRICT THROUGH THE PROCESS SET FORTH IN THE ORDINANCE
FORMING THE DISTRICT.
SECTION 24. 31-25-503 (9), Colorado Revised Statutes, is
amended to read:
31-25-503. What improvements may be made - conditions.
(9) (a) Any other provision of this part 5 to the contrary notwithstanding,
the governing body may create a district for the purpose of acquiring
existing improvements of a character authorized by this part 5, in which
case, the provisions of this part 5 concerning construction of improvements
by the municipality, competitive bidding, and preliminary plans and
specifications shall not apply.
(b) ANY OTHER PROVISION OF THIS PART 5 NOTWITHSTANDING, THE
GOVERNING BODY MAY CREATE AN IMPROVEMENT DISTRICT FOR THE
PURPOSE OF ENCOURAGING, ACCOMMODATING, AND FINANCING RENEWABLE
ENERGY IMPROVEMENTS AND ENERGY EFFICIENCY IMPROVEMENTS OF A
CHARACTER AUTHORIZED BY SECTION 31-25-502 (2). ANY SUCH DISTRICT
SHALL INCLUDE ONLY PROPERTY FOR WHICH THE OWNER HAS EXECUTED A
CONTRACT OR AGREEMENT CONSENTING TO THE INCLUSION OF SUCH
PROPERTY WITHIN THE DISTRICT, AND SUCH CONSENT MAY OCCUR
SUBSEQUENT TO THE ADOPTION OF THE ORDINANCE OF THE GOVERNING
BODY FORMING THE DISTRICT. THE INCLUSION OF SUCH PROPERTY WITHIN
THE DISTRICT SUBSEQUENT TO THE ADOPTION OF THE ORDINANCE OF THE
GOVERNING BODY FORMING THE DISTRICT MAY BE MADE BY THE ADOPTION
OF A SUPPLEMENTAL OR AMENDING ORDINANCE OR RESOLUTION OF THE
GOVERNING BODY. FOR DISTRICTS FORMED FOR THE PURPOSE OF
ENCOURAGING, ACCOMMODATING, AND FINANCING RENEWABLE ENERGY
IMPROVEMENTS OR ENERGY EFFICIENCY IMPROVEMENTS, THE PROVISIONS OF
SUBSECTIONS (2) AND (3) OF THIS SECTION CONCERNING PRELIMINARY
ORDERS, COMPETITIVE BIDDING, AND PRELIMINARY PLANS AND
SPECIFICATIONS, OF SECTION 31-25-516 CONCERNING CONTRACTS FOR
CONSTRUCTION, AND OF SECTION 31-25-518 CONCERNING CONTRACT
PROVISIONS SHALL NOT APPLY.
SECTION 25. 31-25-507, Colorado Revised Statutes, is amended
PAGE 15-HOUSE BILL 08-1350
BY THE ADDITION OF A NEW SUBSECTION to read:
31-25-507. Determination of special benefits - factors
considered. (2) AS USED IN CONNECTION WITH ANY DISTRICT FORMED FOR
THE PURPOSE OF ENCOURAGING, ACCOMMODATING, AND FINANCING
IMPROVEMENTS AS AUTHORIZED IN SECTION 31-25-502 (2), THE TERM
"BENEFIT" SHALL INCLUDE, BUT NOT BE LIMITED TO, ANY ACKNOWLEDGED
VALUE SET FORTH IN THE CONTRACTS AND AGREEMENTS ENTERED INTO BY
THE OWNER OF THE ASSESSED PROPERTY.
SECTION 26. 31-25-513, Colorado Revised Statutes, is amended
BY THE ADDITION OF A NEW SUBSECTION to read:
31-25-513. Cost assessed in accordance with benefits. (4) ANY
DISTRICT FORMED FOR THE PURPOSE OF ENCOURAGING, ACCOMMODATING,
AND FINANCING IMPROVEMENTS AS AUTHORIZED IN SECTION 31-25-502 (2)
SHALL ASSESS THE COSTS OF THE IMPROVEMENTS TO EACH PROPERTY WHOSE
OWNER HAS ENTERED INTO A CONTRACT OR AGREEMENT FOR THE
IMPROVEMENTS. THE CONTRACTS AND AGREEMENTS ENTERED INTO WITH
THE OWNER OF PROPERTY, AS AUTHORIZED BY THE GOVERNING BODY, SHALL
BE CONCLUSIVE REGARDING THE SPECIAL BENEFIT TO THE PROPERTY AND
THE AMOUNT THAT MAY BE ASSESSED AGAINST THE PROPERTY.
SECTION 27. 31-25-520, Colorado Revised Statutes, is amended
to read:
31-25-520. Notice of hearing on assessments. (1) The clerk shall
give notice that the assessment roll has been completed and of a hearing on
the assessment roll by publication in an issue of a newspaper of general
circulation in the municipality, the publication to be at least fifteen days
prior to the date of hearing. The same notice of the hearing shall be mailed
by first-class mail to each property owner to be assessed for the cost of the
improvements who is included within the district. The mailed notice shall
be made on or about the date of the publication of the notice of hearing.
The notices shall specify: The whole cost of the improvement; the portion,
if any, to be paid by such municipality; the share apportioned to each lot or
tract of land; that any complaints or objections which THAT may be made
in writing by the property owners or any citizen to the governing body, and
filed in writing on or prior to the date of the hearing, will be heard and
determined by the governing body before the passage of any ordinance
PAGE 16-HOUSE BILL 08-1350
assessing the cost of said improvements; and the date when and the place
where such complaints or objections will be heard.
(2) ANY DISTRICT FORMED FOR THE PURPOSE OF ENCOURAGING,
ACCOMMODATING, AND FINANCING IMPROVEMENTS AS AUTHORIZED IN
SECTION 31-25-502 (2) SHALL NOT BE REQUIRED TO PROVIDE A NOTICE OF
THE HEARING ON ASSESSMENTS BY PUBLICATION; RATHER, SUCH NOTICE, IF
ANY, MAY BE PROVIDED IN THE TIME AND MANNER SET FORTH IN THE
CONTRACT OR AGREEMENT ENTERED INTO BY THE OWNER FOR EACH
PROPERTY INCLUDED IN THE DISTRICT.
SECTION 28. 31-25-522, Colorado Revised Statutes, is amended
BY THE ADDITION OF THE FOLLOWING NEW SUBSECTIONS to
read:
31-25-522. Assessment of a lien - filing with county clerk and
recorder - corrections. (4) TO PROVIDE FOR UNANTICIPATED INCREASES
IN THE COSTS OF IMPROVEMENTS, THE AMOUNT OF ANY ASSESSMENT
IMPOSED BEFORE THE COMPLETION OF THE RELATED IMPROVEMENTS MAY BE
INCREASED TO A TOTAL AMOUNT NOT IN EXCESS OF THE SPECIAL BENEFIT
CONFERRED UPON THE AFFECTED PROPERTY IF, NOT MORE THAN NINETY
DAYS FOLLOWING THE COMPLETION OF SUCH IMPROVEMENTS, THE
GOVERNING BODY GIVES NOTICE OF ITS INTENT TO CONSIDER THE
AMENDMENT OF SUCH ASSESSMENT, STATING THE TIME AND PLACE THAT A
PUBLIC HEARING SHALL BE HELD THEREON, AND HOLDS SUCH PUBLIC
HEARING, IN THE SAME MANNER AS PROVIDED FOR HEARINGS HELD
PURSUANT TO SECTIONS 31-25-520 AND 31-25-521. AT THE CONCLUSION OF
SUCH PUBLIC HEARING, THE GOVERNING BODY MAY DETERMINE WHETHER
TO AMEND ONE OR MORE ASSESSMENTS WITHIN A DISTRICT. ANY SUCH
AMENDMENT SHALL TAKE EFFECT AS OF THE DATE OF THE ORIGINAL
ASSESSMENT.
(5) IF, AS THE RESULT OF ANY SUBDIVISION, RESUBDIVISION,
VACATION OF RIGHT-OF-WAY, OR OTHER ACTION TAKEN SUBSEQUENT TO THE
ADOPTION OF THE ASSESSMENT ORDINANCE, ANY NEW LOT OR PARCEL IS
CREATED WITHIN A DISTRICT, THE GOVERNING BODY MAY, WITHOUT A
PUBLIC HEARING AND WITH THE CONSENT OF THE OWNER OF THE NEW LOT OR
PARCEL, MODIFY THE ASSESSMENT ORDINANCE TO REAPPORTION ALL OR ANY
PART OF THE TOTAL AMOUNT ASSESSED IN THE DISTRICT TO SUCH NEW LOT
OR PARCEL.
PAGE 17-HOUSE BILL 08-1350
SECTION 29. 31-25-524, Colorado Revised Statutes, is amended
BY THE ADDITION OF A NEW SUBSECTION to read:
31-25-524. Payment - assessment roll returned. (4) ALL SPECIAL
ASSESSMENTS FOR LOCAL IMPROVEMENTS AUTHORIZED IN SECTION
31-25-502 (2) MAY BE DUE AND PAYABLE AT SUCH ALTERNATE TIME OR
TIMES AS SET FORTH IN THE ASSESSING ORDINANCE.
SECTION 30. 31-25-526 (1), Colorado Revised Statutes, is
amended to read:
31-25-526. Collection of assessment payments - by municipal
treasurer - by county treasurer. (1) The governing body may, by
ordinance, direct the municipal treasurer to collect any amount payable as
an assessment pursuant to this part 5 OR AUTHORIZE THE MUNICIPAL
TREASURER OR OTHER APPROPRIATE MUNICIPAL OFFICIAL TO ENTER INTO
CONTRACTS WITH THIRD PARTIES FOR ASSISTANCE IN THE ADMINISTRATION
AND COLLECTION OF ASSESSMENTS. If the governing body does not direct,
by ordinance, that assessment payments be collected by the municipal
treasurer, then such payments shall be collected by the county treasurer.
SECTION 31. 31-25-527, Colorado Revised Statutes, is amended
to read:
31-25-527. When assessments payable - installments. All special
assessments for local improvements shall be due and payable within thirty
days after the final publication of the assessing ordinance without demand;
but all such assessments may be paid, at the election of the owner, in
installments with interest as provided in section 31-25-528. ALL SPECIAL
ASSESSMENTS FOR LOCAL IMPROVEMENTS AUTHORIZED IN SECTION
31-25-502 (2) MAY BE DUE AND PAYABLE AT SUCH ALTERNATE TIME OR
TIMES AS SET FORTH IN THE ASSESSING ORDINANCE.
SECTION 32. 31-25-529, Colorado Revised Statutes, is amended
to read:
31-25-529. Effect of payment in installments. Failure to pay the
whole assessment within said period of thirty days shall be conclusively
considered to be an election on the part of all persons interested, whether
under disability or otherwise, to pay in installments. All persons so electing
PAGE 18-HOUSE BILL 08-1350
to pay in installments shall be conclusively considered to have consented to
said improvements. Such election shall be conclusively considered to be a
waiver of any right to question the power or jurisdiction of the municipality
to construct the improvements, the quality of the work, the regularity or
sufficiency of the proceedings, the validity or the correctness of the
assessments, or the validity of the lien thereof; EXCEPT THAT WITH RESPECT
TO LOCAL IMPROVEMENTS AUTHORIZED IN SECTION 31-25-502 (2), THE
OWNER FOR EACH PROPERTY INCLUDED IN THE DISTRICT SHALL RETAIN ALL
RIGHTS OTHERWISE EXISTING BY CONTRACT OR BY LAW AGAINST PARTIES
OTHER THAN THE COUNTY WITH RESPECT TO THE FINANCED ENERGY
EFFICIENCY IMPROVEMENT OR RENEWABLE ENERGY IMPROVEMENT.
SECTION 33. 31-25-534 (1), Colorado Revised Statutes, is
amended, and the said 31-25-534 is further amended BY THE ADDITION
OF A NEW SUBSECTION, to read:
31-25-534. Issuing bonds - property specially benefited. (1) For
the purpose of paying all or such portion of the cost of any improvement
constructed under the provisions of this part 5 as may be assessed against
the property specially benefited, special assessment bonds of the
municipality may be issued of such date, in such form, and on such terms,
including, without limitation, provisions for their sale, payment, and
redemption, as may be prescribed by the governing body, bearing the name
of the street, alley, or district improved and payable in a sufficient period of
years after SUCH date to cover the period of payment provided and in
convenient denominations. All such bonds shall be issued upon estimates
approved by the governing body, and the municipal treasurer shall preserve
a record of the same in a suitable book kept for that purpose. All such
bonds shall be subscribed by the mayor, countersigned by the municipal
treasurer, with the corporate seal thereto affixed, and attested by the clerk.
Such bonds shall be payable out of the moneys collected on account of the
assessments made for said improvements, FROM RESERVE ACCOUNTS, IF
ANY, ESTABLISHED TO SECURE PAYMENT OF SUCH BONDS, AND FROM ANY
OTHER LEGALLY AVAILABLE MONEYS. Whenever three-fourths of the bonds
for an improvement constructed under the provisions of this part 5 have
been paid and cancelled and for any reason the ANY remaining assessments
are not paid in time to pay the remaining bonds for the district and the
interest due thereon, the municipality shall MAY pay, if so provided in the
ordinance authorizing issuance of the bonds FROM LEGALLY AVAILABLE
MONEYS, the bonds when due and the interest due thereon and reimburse
PAGE 19-HOUSE BILL 08-1350
itself by collecting the unpaid assessments due the district. All moneys
collected from such assessments for any improvement shall be applied to
the payment of the bonds issued until payment in full is made of all the
bonds, both principal and interest, OR TO FUND OR REPLENISH RESERVE
ACCOUNTS, IF ANY, ESTABLISHED TO SECURE THE PAYMENT OF SUCH BONDS.
The bonds may be used in payment of the cost of the improvement as
specified; or the governing body, upon advertisement published at least
once in a newspaper of general circulation in such municipality and in such
other newspapers as may be designated by the governing body, may sell a
sufficient number of said bonds to pay such cost in cash for the best bid
submitted in accordance with the terms of the notice of sale. All bids may
be rejected at the discretion of the governing body. In addition, the bonds
may be sold on such terms and conditions at a private sale if determined by
the governing body to be in the best interests of the municipality.
(6) NOTWITHSTANDING ANY OTHER PROVISION OF THIS PART 5, ANY
DISTRICT FORMED FOR THE PURPOSE OF ENCOURAGING, ACCOMMODATING,
AND FINANCING IMPROVEMENTS AS AUTHORIZED IN SECTION 31-25-502 (2)
MAY BE AUTHORIZED TO ISSUE ONE OR MORE SERIES OF BONDS, AND BONDS
OF ANY SUCH DISTRICT MAY BE PAYABLE FROM THE ASSESSMENTS LEVIED
PURSUANT TO ONE OR MORE ASSESSMENT ORDINANCES.
SECTION 34. Applicability. This act shall apply to acts occurring
on or after the effective date of this act.
SECTION 35. Safety clause. The general assembly hereby finds,
PAGE 20-HOUSE BILL 08-1350
determines, and declares that this act is necessary for the immediate
preservation of the public peace, health, and safety.
____________________________ ____________________________
Andrew Romanoff Peter C. Groff
SPEAKER OF THE HOUSE PRESIDENT OF
OF REPRESENTATIVES THE SENATE
____________________________ ____________________________
Marilyn Eddins Karen Goldman
CHIEF CLERK OF THE HOUSE SECRETARY OF
OF REPRESENTATIVES THE SENATE
APPROVED________________________________________
_________________________________________
Bill Ritter, Jr.
GOVERNOR OF THE STATE OF COLORADO
PAGE 21-HOUSE BILL 08-1350
