C.R.S. Section 23-31-118
Advancement of moneys and pledge of income


(1)

The board of governors of the Colorado state university system, designated in this section as the “board”, is authorized to enter into contracts for the advancement of moneys for the construction and acquisition of facilities or equipment, or both, for the Colorado state university veterinary medicine hospital, or any part thereof, and, in connection with or as a part of such contracts, to pledge revenues from a special hospital fee that the board shall collect pursuant to agreements entered into with or with respect to each accountable student as security for the repayment of the moneys advanced therefor, together with interest thereon. The maximum number of accountable students at any given time shall not exceed three hundred eight; except that, should the total enrollment in the professional veterinary medicine program exceed five hundred forty-eight head-count students, additional accountable students may not exceed forty-five percent of each admitted class. For purposes of this section, an “accountable student” is a person who, as of the date of his or her selection for admission into the professional veterinary medicine program, is not receiving funding, either from the state of Colorado or from a state that has entered into a cooperative agreement with the state of Colorado pursuant to section 24-60-601, C.R.S., for all or any portion of the costs incurred in participating in the professional veterinary medicine program. An agreement shall be entered into with or with respect to each accountable student, and each such agreement shall provide that, as a condition to that student’s continued enrollment in the professional veterinary medicine program, there shall be paid annually by or on behalf of the student the special hospital fee provided for in this section, which fee shall be fixed by the board annually in an amount sufficient to meet the obligation authorized by this section.

(2)

The board shall annually assess each cooperative state or accountable student a support fee to reimburse Colorado for instructional costs. This support fee includes an equipment and renovation fee of one thousand one dollars assessed to each cooperative state or accountable student for acquisition or replacement of equipment and for renovation. Colorado shall share proportionately in the acquisition or replacement of equipment and renovation projects. The amount to be paid by Colorado shall be determined by the annual ratio of Colorado students to accountable students based upon beginning enrollment of each school year. The fee required to be collected pursuant to this subsection (2) is based on a student’s status as an “accountable student” at the time of selection for admission into the professional veterinary medicine program and shall not be reduced or waived regardless of the student’s status as an in-state student, pursuant to the provisions of section 23-7-103, at any time during the student’s participation in the professional veterinary medicine program.

(3)

The board shall not pledge any income of the university except that authorized in subsection (1) of this section and shall not create any mortgage upon property belonging to such institution or obligate the state of Colorado for the purpose of repaying or receiving any funds raised or advanced under the provisions of this section.

(4)

Any advancement of moneys, not to exceed two million five hundred thousand dollars, may be evidenced by revenue bonds or anticipation warrants to be executed by the board for and on behalf of Colorado state university and containing such terms and provisions, including provisions for adequate reserves and for redemption prior to maturity and a maximum net effective interest rate, as may be determined by the board. Such revenue bonds or anticipation warrants shall bear interest at a rate such that the net effective interest rate of the issue of bonds or anticipation warrants does not exceed the maximum net effective interest rate fixed, which interest shall be payable semiannually or annually. Such revenue bonds or warrants may be sold at less than par, but they may not be sold at a price such that the net effective interest rate of the issue of bonds or warrants exceeds the maximum net effective interest rate fixed. Any such revenue bonds or warrants may be refunded pursuant to article 54 of title 11, C.R.S., if in the judgment of the board such refunding is to the best interests of the university.

(5)

If the sources of pledged revenues described in subsection (1) of this section exceed the amount required for the amortization of any advancement made pursuant to this section, and the payment of interest thereof, together with reserve requirements, the board may apply such surplus to the redemption of such securities prior to maturity of such securities according to redemption provisions thereof, or such surplus may be used by the board for the purposes of maintaining, repairing, altering, or adding to any existing equipment or facilities acquired pursuant to the provisions of this section for any lawful purpose.

(6)

All obligations issued pursuant to this section and the income therefrom shall be exempt from taxation, except inheritance, estate, and transfer taxes.

(7)

No action shall be brought questioning the legality of any contract, proceedings, revenue bonds, or anticipation warrants issued or to be issued by the board in connection with the provision of all or any part of the Colorado state university veterinary medicine hospital pursuant to this section after the expiration of thirty days from the effective date of any resolution or other official action authorizing such contract, adopting such proceedings, or authorizing the issuance of such warrants or bonds.

Source: Section 23-31-118 — Advancement of moneys and pledge of income, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-23.­pdf (accessed Oct. 20, 2023).

23‑31‑101
University established - role and mission
23‑31‑102
Name changed
23‑31‑103
Board to control college and lands
23‑31‑104
Who shall constitute faculty
23‑31‑105
Duty of faculty
23‑31‑106
President - duties
23‑31‑107
President may remove officers
23‑31‑108
President may be professor
23‑31‑109
Report of experimental operations
23‑31‑110
Pledge of income from facilities or equipment
23‑31‑111
Rents or charges for buildings and facilities for research
23‑31‑112
Research building revolving fund - appropriation of fund
23‑31‑113
Anticipation warrants
23‑31‑114
Purchase of anticipation warrants
23‑31‑115
Warrants as security - when
23‑31‑116
Tax exemption
23‑31‑117
Borrowing funds
23‑31‑118
Advancement of moneys and pledge of income
23‑31‑119
Plant breeding programs
23‑31‑120
Cooperation with other agencies
23‑31‑121
Providing personnel, supplies
23‑31‑122
Agricultural extension service furnished counties
23‑31‑201
Transfer to board of governors of the Colorado state university system - exceptions
23‑31‑202
Powers and duties of board of governors of the Colorado state university system
23‑31‑205
Provisions of act of congress accepted
23‑31‑206
Cooperative agreements
23‑31‑207
Employees and personnel
23‑31‑208
Rights by succession to state board of land commissioners - transfers to division of fire prevention and control
23‑31‑301
Legislative declaration
23‑31‑302
Forestry function named
23‑31‑303
Funds available
23‑31‑310
Forest restoration and wildfire risk mitigation grant program - technical advisory panel - legislative declaration - definitions - repeal
23‑31‑311
Watershed protection projects and forest health projects
23‑31‑312
Community wildfire protection plans - biomass utilization plans - county governments - guidelines and criteria - legislative declaration - definitions
23‑31‑313
Healthy forests - vibrant communities - funds created - outreach working group - legislative declaration - definition - repeal
23‑31‑316
Colorado forest health council - legislative declaration - repeal
23‑31‑317
Biomass utilization study - legislative declaration - report - definitions - repeal
23‑31‑318
Wildfire mitigation incentives for local governments - grant awards - fund - reporting - definitions - repeal
23‑31‑319
Forest service seedling tree nursery - necessary upgrades and improvements - definition - funding - reports - repeal
23‑31‑320
Timber, forest health, and wildfire mitigation industries workforce development program - creation - policies and procedures - legislative declaration - definitions
23‑31‑401
Definitions
23‑31‑402
Owner’s permission required - when
23‑31‑403
Proof of ownership required - when
23‑31‑404
Violation - penalty - defense
23‑31‑501
Acceptance of congressional grant of 1862
23‑31‑502
Board of governors of the Colorado state university system to control fund
23‑31‑503
Acceptance of congressional act of 1883
23‑31‑504
Control, investment, and expending of funds
23‑31‑505
Other funds - investment
23‑31‑506
Report on condition - appropriation
23‑31‑507
Management of funds
23‑31‑508
Purpose of sections
23‑31‑509
Acceptance of congressional act of 1928
23‑31‑510
Control of funds
23‑31‑511
Congressional act of 1914 accepted
23‑31‑512
Board to receive and expend funds
23‑31‑513
Acceptance of congressional act of 1935
23‑31‑514
Control of funds from 1935 act
23‑31‑601
Acceptance of congressional act of 1862
23‑31‑602
Control of fund
23‑31‑603
Acceptance of congressional act of 1906
23‑31‑604
Board to control fund
23‑31‑605
Board to cooperate with counties
23‑31‑606
Employees and specialists
23‑31‑607
Stations established
23‑31‑608
Board to secure lands
23‑31‑609
Board to supervise
23‑31‑610
Objects of stations
23‑31‑611
Proceeds from station
23‑31‑612
Expenses - how paid
23‑31‑701
Short title
23‑31‑702
Acknowledgment of related federal laws
23‑31‑703
Responsibility and objectives
23‑31‑704
Organization - cooperative relationships
23‑31‑705
Authority to accomplish purposes of part
23‑31‑706
Reporting and accountability
23‑31‑707
Colorado AgrAbility project - extension program - creation - appropriation - legislative declaration
23‑31‑801
Colorado water institute - creation
23‑31‑802
Advisory committee on water research policy
23‑31‑803
Water research fund
23‑31‑804
Republican river groundwater economic study - reporting - legislative declaration - definitions - repeal
23‑31‑901
Legislative declaration
23‑31‑902
Annual project report - national western center trust fund - creation - use
23‑31‑903
Authorization for financed purchase of an asset or certificate of participation agreements
23‑31‑904
Cooperative agreements for regional economic development not limited
23‑31‑905
National western center partnership - open meetings and open records laws apply - audit
23‑31‑1001
Legislative declaration
23‑31‑1002
Definitions
23‑31‑1003
State veterinary education loan repayment council - creation - membership
23‑31‑1004
State veterinary education loan repayment program - creation - purpose
23‑31‑1005
Council powers and duties
23‑31‑1006
Program applicant eligibility - criteria
23‑31‑1007
Designated veterinary shortage areas - criteria
23‑31‑1008
Release from contract obligation
23‑31‑1009
Loan repayment
23‑31‑1010
Veterinary education loan repayment fund - creation - gifts, grants, and donations
23‑31‑1101
Legislative declaration
23‑31‑1102
Colorado food systems advisory council - created - membership - terms - vacancies
23‑31‑1103
Council - purpose and duties
23‑31‑1104
Subcommittees of the council
23‑31‑1105
Fund - acceptance of gifts, grants, or donations
23‑31‑1106
Reports - recommendations
23‑31‑1107
Repeal of part
Green check means up to date. Up to date

Current through Fall 2024

§ 23-31-118’s source at colorado​.gov