C.R.S. Section 22-30.5-406
Direct payment of charter school bonds by the state treasurer and school districts

(1)

Intentionally left blank —Ed.

(a)

For the purpose of enhancing the ability of a charter school or an institute charter school to obtain favorable financing terms on bonds issued on behalf of the charter school or institute charter school by a governmental entity other than a school district for the purpose of financing charter school capital construction, a charter school that is entitled to receive moneys from the state public school fund pursuant to part 1 of this article, or an institute charter school that is entitled to receive moneys from the state public school fund pursuant to part 5 of this article, may request that the state treasurer make direct payments of principal and interest on the bonds on behalf of the charter school or institute charter school. The charter school or institute charter school shall specify the amount of each payment to be made.

(b)

Notwithstanding the provisions of paragraph (a) of this subsection (1), if the state treasurer concludes that the amount of moneys from the state public school fund that a charter school or an institute charter school will receive pursuant to part 1 or part 5 of this article for any given budget year will be less than the amount of the payments specified by the charter school or institute charter school pursuant to paragraph (a) of this subsection (1) that will be due during the budget year, the state treasurer shall not agree to make direct payments on behalf of the charter school or institute charter school.

(c)

Intentionally left blank —Ed.

(I)

In the case of a charter school authorized by a school district board of education, the state treasurer shall withhold the amount of any direct payments made on behalf of a charter school plus administrative costs associated with the making of direct payments in an amount agreed upon by the state treasurer and the charter school from the payments to the chartering district of the state share of the district’s total program made pursuant to article 54 of this title. The state treasurer shall notify the chief financial officers of the chartering district and the charter school of any amount of moneys withheld and the chartering district shall reduce the amount of funding it provides to the charter school by said amount. Any administrative costs withheld by the state treasurer pursuant to this subparagraph (I) shall be credited to the charter school financing administrative cash fund, which fund is hereby created. Moneys in the fund shall be continuously appropriated to the state treasurer for the direct and indirect costs of the administration of this section. Moneys in the charter school financing administrative cash fund shall remain in the fund and shall not revert to the general fund at the end of any fiscal year.

(II)

In the case of an institute charter school, the state treasurer shall withhold the amount of any direct payments made on behalf of an institute charter school plus administrative costs associated with the making of direct payments in an amount agreed upon by the state treasurer and the institute charter school from the payments to the state charter school institute made by the department of education pursuant to article 54 of this title. The state treasurer shall notify the department of education, the state charter school institute, and the chief financial officer of the institute charter school of any amount of moneys withheld. Any administrative costs withheld by the state treasurer pursuant to this subparagraph (II) shall be credited to the charter school financing administrative cash fund created pursuant to subparagraph (I) of this paragraph (c).

(d)

The state treasurer shall establish the procedures necessary to implement this subsection (1) and may promulgate rules for that purpose. Any rules shall be promulgated in accordance with article 4 of title 24, C.R.S.

(e)

This subsection (1) shall not be construed to require the state to continue the payment of state assistance to any school district or to the state charter school institute or to limit or prohibit the state from repealing or amending any law relating to the amount of state assistance to school districts or the state charter school institute or the manner or timing of the payment of such assistance. This subsection (1) shall not be construed to create a debt of the state or any state financial obligation whatsoever with respect to any bonds issued on behalf of a charter school or an institute charter school by a governmental entity other than a school district for the purpose of financing charter school capital construction within the meaning of any state constitutional provision or to create any liability except to the extent provided in this subsection (1).

(2)

Intentionally left blank —Ed.

(a)

If the state treasurer does not agree to make direct payments of principal and interest on bonds on behalf of a charter school or an institute charter school pursuant to subsection (1) of this section because the charter school or institute charter school is not entitled to receive moneys from the state public school fund pursuant to part 1 or part 5 of this article or because the state treasurer has concluded that the amount of moneys from the state public school fund that the charter school or institute charter school will receive pursuant to part 1 or part 5 of this article for any given budget year will be less than the amount of the direct payment specified by the charter school or institute charter school that will be due during the budget year, the charter school may request that its chartering district, or the institute charter school may request that the state charter school institute, make direct payments of principal and interest on the bonds on behalf of the charter school or the institute charter school. The charter school or the institute charter school shall specify the amount of each payment to be made.

(b)

Intentionally left blank —Ed.

(I)

Notwithstanding the provisions of paragraph (a) of this subsection (2), if the board of education of a chartering district concludes that the total amount of moneys that a charter school will receive for any given budget year from the district pursuant to the operating contract between the district and the charter school will be less than the amount of the payments specified by the charter school pursuant to paragraph (a) of this subsection (2) that will be due during the budget year, the chartering district shall not agree to make direct payments on behalf of the charter school.

(II)

Notwithstanding the provisions of paragraph (a) of this subsection (2), if the governing board of the state charter school institute concludes that the total amount of moneys that an institute charter school will receive for any given budget year from the state charter school institute pursuant to the charter contract between the state charter school institute and the institute charter school will be less than the amount of the payments specified by the institute charter school pursuant to paragraph (a) of this subsection (2) that will be due during the budget year, the governing board shall not agree to make direct payments on behalf of the institute charter school.

(c)

Intentionally left blank —Ed.

(I)

A chartering district shall withhold the amount of any direct payments made on behalf of a charter school plus administrative costs associated with the making of direct payments in an amount agreed upon by the chartering district and the charter school from the funding provided by the district to the charter school pursuant to part 1 of this article.

(II)

The state charter school institute shall withhold the amount of any direct payments made on behalf of an institute charter school plus administrative costs associated with the making of direct payments in an amount agreed upon by the state charter school institute and the institute charter school from the funding provided by the institute to the institute charter school pursuant to part 5 of this article.

(d)

This subsection (2) shall not be construed to create a debt of any chartering district or the state charter school institute or any district or institute obligation whatsoever with respect to any lease agreement or installment purchase agreement entered into by a charter school or institute charter school within the meaning of any state constitutional provision or to create any liability except to the extent provided in this subsection (2).

(3)

In accordance with section 11 of article II of the state constitution, the state hereby covenants with the purchasers of any outstanding bonds issued on behalf of a charter school or an institute charter school by a governmental entity in reliance upon this section that it will not repeal, revoke, or rescind the provisions of this section or modify or amend the same so as to limit or impair the rights and remedies granted by this section. However, nothing in this subsection (3) shall be deemed or construed to require the state to continue the payment of state assistance received by charter schools or institute charter schools or to limit or prohibit the state from repealing, amending, or modifying any law relating to the amount of state assistance received by charter schools or institute charter schools or the manner of payment or timing thereof. Nothing in this section shall be deemed or construed to create a debt of the state with respect to such bonds or other obligations within the meaning of any state constitutional provision or to create any liability except to the extent provided in this section.

Source: Section 22-30.5-406 — Direct payment of charter school bonds by the state treasurer and school districts, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-22.­pdf (accessed Oct. 20, 2023).

22‑30.5‑101
Short title 22‑30.5‑102
Legislative declaration 22‑30.5‑103
Definitions 22‑30.5‑104
Charter school - requirements - authority - rules - definitions 22‑30.5‑104.7
Charter school networks - authority - definitions 22‑30.5‑104.9
Charter schools - status as public entities - requirements - charter school boards of directors and school leaders - duties - conflicts - applicable law - definitions 22‑30.5‑105
Charter schools - contract contents - regulations 22‑30.5‑105.3
Charter schools - alternative administrative units - process 22‑30.5‑106
Charter application - contents 22‑30.5‑107
Charter application - process 22‑30.5‑107.3
Optional charter school application timeline for rural school districts 22‑30.5‑107.5
Dispute resolution - governing policy provisions - appeal 22‑30.5‑108
Appeal - standard of review - procedures 22‑30.5‑109
Charter schools - reporting - publicizing - limits on enrollment - moratorium prohibited 22‑30.5‑110
Charter schools - term - renewal of charter - grounds for nonrenewal or revocation 22‑30.5‑110.3
Nonrenewal or revocation - qualified charter school - exceptions 22‑30.5‑110.5
Background investigation - charter school employees - information provided to department - definitions 22‑30.5‑110.7
Fingerprint-based criminal history record checks - charter school employees - procedures - exceptions - definitions 22‑30.5‑111
Charter schools - employee options 22‑30.5‑112
Charter schools - financing - guidelines - definitions 22‑30.5‑112.1
Charter schools - exclusive jurisdiction districts - authorized on or after July 1, 2004 - financing - definitions 22‑30.5‑112.2
Charter schools - at-risk supplemental aid - definitions - legislative declaration 22‑30.5‑112.3
Charter schools - additional aid from district 22‑30.5‑112.5
Charter schools - transportation plans 22‑30.5‑113
State board - department of education - duties - charter schools - evaluation - report 22‑30.5‑115
Construction of article - severability 22‑30.5‑116
Charter schools - school bullying policies required 22‑30.5‑117
Developmental education placement or assessment tests - intervention plans 22‑30.5‑118
Needs-based inclusion of charter schools in school district mill levy elections - eligibility - allocation of additional local revenues - definitions 22‑30.5‑119
Mill levy for charter school operating revenues 22‑30.5‑120
Charter schools - child sexual abuse and assault prevention plan 22‑30.5‑301
Legislative declaration 22‑30.5‑302
Definitions 22‑30.5‑303
Independent charter schools - request for proposals - response contents 22‑30.5‑304
Review committee - membership - recommendations 22‑30.5‑305
Independent charter schools - selection 22‑30.5‑306
Independent charter schools - charter - term 22‑30.5‑307
Independent charter schools - expiration - renewal - conversion 22‑30.5‑308
Independent charter schools - employee options - financing options - guidelines 22‑30.5‑401
Short title 22‑30.5‑402
Legislative declaration 22‑30.5‑403
Definitions 22‑30.5‑404
Needs-based inclusion of charter schools in district bond elections - eligibility - allocation of bond revenues 22‑30.5‑405
Mill levy for charter school capital construction 22‑30.5‑406
Direct payment of charter school bonds by the state treasurer and school districts 22‑30.5‑407
State charter school debt reserve fund - creation - use of fund moneys - legislative declaration 22‑30.5‑408
Replenishment of qualified charter school debt service reserve funds - additional responsibilities - state treasurer - qualified charter schools - definitions 22‑30.5‑409
Annual reports on bonds issued on behalf of charter schools - review by state auditor 22‑30.5‑501
Legislative declaration 22‑30.5‑502
Definitions 22‑30.5‑503
State charter school institute - establishment - rules 22‑30.5‑503.5
School response framework 22‑30.5‑504
Institute chartering authority - institute charter schools - exclusive authority - retention - recovery - revocation 22‑30.5‑505
State charter school institute - institute board - appointment - powers and duties - rules 22‑30.5‑506
State charter school institute fund - created 22‑30.5‑507
Institute charter school - requirements - authority - rules - definitions 22‑30.5‑508
Institute charter schools - contract contents - regulations 22‑30.5‑509
Institute charter school application - contents 22‑30.5‑510
Institute charter school application - process - rule-making 22‑30.5‑511
Institute charter schools - term - renewal of contract - grounds for nonrenewal or revocation - appeal 22‑30.5‑511.3
Nonrenewal or revocation - qualified charter school - exceptions 22‑30.5‑511.5
Background investigation - prohibition against employing persons - institute charter school employees’ information provided to department 22‑30.5‑512
Institute charter schools - employee retirement funds 22‑30.5‑513
Institute charter schools - funding - at-risk supplemental aid - legislative declaration - definitions 22‑30.5‑513.1
Mill levy equalization - fund created - legislative declaration - definitions 22‑30.5‑514
Institute charter school - capital reserve, risk management, and instructional purposes 22‑30.5‑515
Institute charter school - additional aid 22‑30.5‑515.5
Institute charter school assistance fund - created - grants - loans - rules 22‑30.5‑516
Notice of precollegiate admission guidelines - report to Colorado commission on higher education 22‑30.5‑517
Institute charter school nutritional beverage policy 22‑30.5‑518
Institute charter school food allergy and anaphylaxis management policy required 22‑30.5‑519
Institute charter school standardized immunization information policy 22‑30.5‑520
Parent engagement - policy - communications - incentives 22‑30.5‑521
Institute charter schools - school bullying policies required 22‑30.5‑522
Restorative justice practices 22‑30.5‑523
Intervention strategies - students at risk of dropping out 22‑30.5‑524
Institute charter schools - children’s nutrition - no trans fats in school foods - definitions - rules 22‑30.5‑525
Individual career and academic plans 22‑30.5‑526
Developmental education placement or assessment tests - intervention plans 22‑30.5‑526.5
Intervention strategies - improving mathematics outcomes - definitions 22‑30.5‑527
Institute charter schools - child sexual abuse and assault prevention plan 22‑30.5‑528
Institute charter schools - use of restraints on students - certain restraints prohibited - reports and review process - complaints and investigations - rules - definitions 22‑30.5‑529
Contracting for facial recognition service by institute charter schools prohibited - definition - repeal 22‑30.5‑530
Testing for the presence of lead in drinking water in eligible schools - compliance with public health requirements - repeal 22‑30.5‑601
Short title 22‑30.5‑602
Definitions 22‑30.5‑603
Charter school collaborative - creation - public status - structure 22‑30.5‑604
Charter school collaborative - nonexclusive 22‑30.5‑605
Administration fee 22‑30.5‑701
Short title 22‑30.5‑702
Definitions 22‑30.5‑703
Emergency powers - request - orders - process - rules 22‑30.5‑704
Excess benefits - cancellation of contracts - civil action and penalty
Green check means up to date. Up to date

Current through Fall 2024

§ 22-30.5-406’s source at colorado​.gov