C.R.S. Section 23-71-702
Definitions

As used in this part 7, unless the context otherwise requires:

(1)

“Committee” means the governing body of a district or any successor governing body of the district.

(2)

“District” means any local college district operating pursuant to the laws of this state.

(3)

“Facilities” means buildings, structures, or other income-producing facilities from the operation of which or in connection with which pledged revenues for the payment of any securities issued under this part 7 are derived, including without limitation any facilities to be acquired with the proceeds of the securities issued under this part 7.

(4)

“Net revenues” or “net pledged revenues” means all pledged revenues after the deduction of operation and maintenance expenses.

(5)

Intentionally left blank —Ed.

(a)

“Operation and maintenance expenses” means such reasonable and necessary current expenses of the district, paid or accrued, of operating, maintaining, and repairing the facilities pertaining to the pledged revenues for the payment of the securities issued under this part 7, as may be determined by a committee, and the term may include, at a committee’s option, except as limited by contract or otherwise limited by law, without limiting the generality of the foregoing:

(I)

Legal and overhead expenses of the various district departments directly related and reasonably allocable to the administration of the facilities;

(II)

Fidelity bond and insurance premiums appertaining to the facilities or a reasonably allocable share of a premium of any blanket bond or policy pertaining to the facilities;

(III)

The reasonable charges of any paying agent or depository bank appertaining to any securities issued by a district or appertaining to any facilities;

(IV)

Contractual services, professional services, salaries, administrative expenses, and costs of labor appertaining to facilities;

(V)

The costs incurred by a district in the collection of all or any part of the pledged revenues, including without limitation revenues appertaining to any facilities;

(VI)

Any costs of utility services furnished to the facilities by the district or otherwise.

(b)

“Operation and maintenance expenses” does not include:

(I)

Any allowance for depreciation;

(II)

Any costs of reconstruction, improvements, extensions, or betterments;

(III)

Any accumulation of reserves for capital replacements;

(IV)

Any reserves for operation, maintenance, or repair of any facilities;

(V)

Any allowance for the redemption of any bond securities evidencing a loan or other obligations, or the payment of any interest thereon;

(VI)

Any liabilities incurred in the acquisition or improvement of any properties comprising any project or any existing facilities, or any combination thereof;

(VII)

Any other ground of legal liability not based on contract.

(6)

Intentionally left blank —Ed.

(a)

“Pledged revenues” means the moneys pledged wholly or in part for the payment of securities issued under this article and, subject to any existing pledges or other contractual limitations, may include, at a committee’s discretion, any grants, appropriations, or other donations from the United States or its agencies or from any other donor, except the state or its agencies or political subdivisions, and income or moneys derived from one, all, or any combination of the following revenue sources, including without limitation student fees and other fees, rates, and charges appertaining thereto and for the development thereof:

(I)

Dormitories, apartments, and other housing facilities;

(II)

Cafeterias, dining halls, and other food service facilities;

(III)

Student union and other student activities facilities;

(IV)

Store or other facilities for the sale or lease of books, stationery, student supplies, faculty supplies, office supplies, and like material;

(V)

Theater, gymnasium, fieldhouse, stadium, arena, and other recreation or athletic facilities for use in part by spectators or otherwise;

(VI)

Land and any structures, other facilities, or improvements thereon used or available for use for the parking of vehicles used for the transportation by land or air of persons to or from such land and any improvements thereon;

(VII)

Properties providing heat or any other utility furnished by a district to any facilities on campus;

(VIII)

Services, contracts, investments, and other miscellaneous unrestricted sources of income not designated in this part 7, whether presently realized or to be realized, and accounted for in a miscellaneous sales and services fund or account.

(b)

“Pledged revenues” does not include income or moneys derived in connection with any of the following:

(I)

Any tuition charges and registration fees;

(II)

The levy of any general (ad valorem) property taxes;

(III)

Any grants, appropriations, or other donations from the state, its agencies, or its political subdivisions.

(7)

“Registration fees” means any charges paid by any student for the privilege of registering for attendance at a local district college in a district, except for any charges appertaining to those revenue sources set forth in subsection (6)(a) of this section.

(8)

“Securities” means bonds and interim securities authorized to be issued under this part 7 in the name of and on the behalf of a district.

(9)

“Tuition charges” means the price of or payment for general and special instruction of students as defined and determined from time to time by the committee.

Source: Section 23-71-702 — Definitions, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-23.­pdf (accessed Oct. 20, 2023).

23‑71‑101
Short title 23‑71‑102
Definitions 23‑71‑102.5
Local district college - local college district - change in terms - authority of revisor 23‑71‑103
Districts organized - when 23‑71‑104
Petition of electors 23‑71‑105
Election to organize 23‑71‑107
Qualifications of voters - conduct of elections 23‑71‑109
Record of votes 23‑71‑110
Election of board - members and terms 23‑71‑111
Election of first board - new district 23‑71‑114
Candidates for board of trustees 23‑71‑118
Officers 23‑71‑119
Regular meetings 23‑71‑120
District - body corporate 23‑71‑120.5
Recall of board members 23‑71‑121
Vacancies 23‑71‑122
Local college district board of trustees - specific powers - rules - definitions 23‑71‑123
Duties of board of trustees - degrees 23‑71‑124
President - duties 23‑71‑125
Secretary - duties 23‑71‑126
Treasurer - duties 23‑71‑127
Credits accepted by state institutions 23‑71‑128
Additions to district - procedure 23‑71‑129
Dissolution of district 23‑71‑130
Bonds as legal investments 23‑71‑131
Local district colleges subject to section 29-1-302 23‑71‑133
Local district colleges - attorney general to advise - revenue for baccalaureate degree programs 23‑71‑134
Local district colleges - bachelor of applied science degree programs - approval 23‑71‑135
Local district colleges - high school diplomas - approval 23‑71‑201
Definitions 23‑71‑202
Joining state system - state support 23‑71‑203
Submission of plan for joining state system 23‑71‑204
Approval of plan - election 23‑71‑205
Withdrawal from state system 23‑71‑206
Northeastern junior college - approval of plan - date of entry into state system - continuation of mill levy 23‑71‑207
Colorado Northwestern community college - approval of plan - date of entry into system - continuation of mill levy 23‑71‑208
Colorado Northwestern community college - disposal of assets 23‑71‑301
Direct grants to local college districts - occupational courses 23‑71‑302
Distribution of grants 23‑71‑303
Distributions to area technical colleges 23‑71‑304
Area technical college grant program - established - report - definitions - repeal 23‑71‑401
Definitions 23‑71‑402
Certification - tax revenues 23‑71‑403
Change in needed tax revenues - unlawful 23‑71‑404
County treasurer - accounts - warrants 23‑71‑405
Depositories 23‑71‑406
Registered warrants by treasurer of the board of trustees 23‑71‑407
Short-term loans 23‑71‑501
Definitions 23‑71‑502
Bonded indebtedness - elections 23‑71‑503
Limitations on elections 23‑71‑504
Limit of bonded indebtedness 23‑71‑514
Board of trustees may issue bonds - exemption from Colorado income tax 23‑71‑515
Form of bonds 23‑71‑516
Sale at less than par - discount 23‑71‑517
Board of trustees to certify needed revenues 23‑71‑518
Tax levy to pay principal and interest 23‑71‑519
Bond fund - payment and redemption 23‑71‑520
Place of payment 23‑71‑521
Registration of bonds 23‑71‑522
Changes in boundaries - liability 23‑71‑523
Validation 23‑71‑524
Prior obligations not impaired 23‑71‑525
Public disclosure of terms of sale 23‑71‑526
Validation 23‑71‑527
Validation - effect - limitations 23‑71‑601
Definitions 23‑71‑602
Refunding bonds may be issued 23‑71‑603
Question of issuing refunding bonds 23‑71‑604
Authorization - form - interest 23‑71‑605
Sale - proceeds - amounts 23‑71‑606
Needed revenues - tax levy - miscellaneous 23‑71‑607
Application of bond proceeds - procedures - limitations 23‑71‑608
Reports 23‑71‑609
Validation 23‑71‑610
Prior obligations not impaired 23‑71‑701
Short title 23‑71‑702
Definitions 23‑71‑703
Power to issue securities 23‑71‑704
Interim securities 23‑71‑705
Terms of securities 23‑71‑706
Payable from special fund 23‑71‑707
Recital of regularity 23‑71‑708
Committee determination conclusive 23‑71‑709
No impairment of contract 23‑71‑710
Tax exemption 23‑71‑711
Construction 23‑71‑712
Liberal construction 23‑71‑713
Validation
Green check means up to date. Up to date

Current through Fall 2024

§ 23-71-702’s source at colorado​.gov