C.R.S. Section 29-4-704
Colorado housing and finance authority

(1)

There is hereby created the Colorado housing and finance authority, which shall be a body corporate and a political subdivision of the state, shall not be an agency of state government, and shall not be subject to administrative direction by any department, commission, board, bureau, or agency of the state.

(2)

The powers of the authority shall be vested in the governing body of the authority, which shall be a board of directors consisting of:

(a)

The state auditor;

(b)

A member of the general assembly appointed jointly by the speaker of the house and the majority leader of the senate to serve for the legislative biennium. The legislative member shall be appointed in January at the beginning of the regular session held in odd-numbered years.

(c)

Eight persons, who shall be appointed by the governor, with the consent of the senate, as follows:

(I)

One member who shall be experienced in mortgage banking;

(II)

One member who shall be experienced in real estate transactions;

(III)

Six additional members to be appointed without regard to their occupations; except that, in making such appointments, the governor shall give strong consideration to the appointment of a member trained in architecture and a member trained in city or regional planning;

(d)

An executive director of a principal department of the state government appointed by the governor who shall serve at the pleasure of the governor.

(3)

Each member appointed by the governor shall be appointed for a term of four years; except that the terms shall be staggered so that no more than three members’ terms expire in the same year.

(4)

Each member shall hold office for the member’s term and until a successor is appointed. Any member is eligible for reappointment, but members are not eligible to serve more than two consecutive full terms. Members of the board serve without compensation for such services but are entitled to be reimbursed for their necessary expenses while serving as a member of the board. Any vacancy shall be filled in the same manner as the original appointments for the unexpired term.

(5)

Any appointed member of the board may be removed by the governor, and the legislative representative by the speaker of the house and the majority leader of the senate, for malfeasance in office, failure to regularly attend meetings, or for any cause which renders said member incapable of or unfit to discharge the duties of his office.

(6)

No part of the revenues or assets of the authority shall inure to the benefit of, or be distributed to, its members or officers or any other private persons or entities.

(7)

The authority and its corporate existence shall continue until terminated by law; except that no such law shall take effect so long as the authority has bonds, notes, or other obligations outstanding, unless adequate provision has been made for the payment thereof. Upon termination of the existence of the authority, all its rights and properties in excess of its obligations shall pass to and be vested in the state.

Source: Section 29-4-704 — Colorado housing and finance authority, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-29.­pdf (accessed Oct. 20, 2023).

29‑4‑101
Short title 29‑4‑102
Legislative declaration 29‑4‑103
Definitions 29‑4‑104
Powers of cities to undertake projects 29‑4‑105
Eminent domain 29‑4‑106
Acquisition of land for government 29‑4‑107
Management of housing projects 29‑4‑108
Moneys of city 29‑4‑109
Construction contracts and costs 29‑4‑110
Bonds secured by taxes - maturity 29‑4‑111
Bonds not secured by taxes authorized by resolution 29‑4‑112
Tax resolution - payment of bonds 29‑4‑113
Form of bonds - rate of interest 29‑4‑114
Provisions of bonds, mortgages, or trust indentures 29‑4‑115
Mortgage when financed by government 29‑4‑116
Remedies of an obligee of city 29‑4‑117
Additional remedies 29‑4‑118
Remedies cumulative 29‑4‑119
Limitations on remedies of obligee 29‑4‑120
Foreclosure sale subject to government agreement 29‑4‑121
Action by resolution 29‑4‑122
Tax exemptions 29‑4‑123
Supplemental nature of article 29‑4‑201
Short title 29‑4‑202
Legislative declaration 29‑4‑203
Definitions 29‑4‑204
Petition for creation of authority - notice - hearing 29‑4‑205
Appointment of commissioners 29‑4‑206
Duty of the authority and commissioners 29‑4‑207
Interested commissioners or employees 29‑4‑208
Removal of commissioners 29‑4‑209
Powers of authority 29‑4‑210
Rentals and tenant selection 29‑4‑211
Eminent domain 29‑4‑212
Acquisition of land for government 29‑4‑213
Zoning and building laws 29‑4‑214
Types of bonds 29‑4‑215
Form of bonds 29‑4‑216
Provisions of bond or mortgage 29‑4‑217
Power to mortgage - when 29‑4‑218
Remedies of an obligee of authority 29‑4‑219
Additional remedies 29‑4‑220
Remedies cumulative 29‑4‑221
Limitations on remedies of obligee 29‑4‑222
Sale subject to government agreement 29‑4‑223
Contracts with federal government 29‑4‑224
Wage and labor conditions 29‑4‑225
Insurance 29‑4‑226
Exemption from special assessments 29‑4‑227
Tax exemptions 29‑4‑228
Reports 29‑4‑229
Low rentals 29‑4‑230
Previous housing authorities validated 29‑4‑231
Contracts and undertakings validated 29‑4‑232
Notes and bonds validated 29‑4‑301
Short title 29‑4‑302
Legislative declaration 29‑4‑303
Definitions 29‑4‑304
Preparation of development plan 29‑4‑305
Assistance in preparation of plan 29‑4‑306
Action on setting up of authority 29‑4‑307
Additional powers of authority 29‑4‑308
Organization of authority 29‑4‑309
Condemnation for a superior use 29‑4‑310
Area not wholly in one municipality 29‑4‑311
Termination of an authority 29‑4‑312
Appropriations by municipality 29‑4‑313
Taxation 29‑4‑314
Supervision of reconstruction agency 29‑4‑401
Existing statutes no bar to creation of housing authority 29‑4‑402
Cities and towns empowered to create housing authorities 29‑4‑501
Legislative declaration 29‑4‑502
Definitions 29‑4‑503
Creation of housing authority 29‑4‑504
Appointment of commissioners 29‑4‑505
Powers of authority 29‑4‑506
Policy of authority 29‑4‑507
Exemption from special assessments - tax exemptions 29‑4‑508
Boundaries of authority 29‑4‑509
Conformity with building laws 29‑4‑601
Applicability of part 6 29‑4‑602
Posting and publication of notice - petition 29‑4‑603
Cooperative agreement - costs of election 29‑4‑604
Election - resolution 29‑4‑605
Notice of election 29‑4‑606
Conduct of election 29‑4‑607
Count of ballots - canvass - results of election 29‑4‑701
Short title 29‑4‑702
Legislative declaration 29‑4‑703
Definitions - rules 29‑4‑704
Colorado housing and finance authority 29‑4‑704.5
Reference in contracts and documents 29‑4‑705
Records of board 29‑4‑706
Meetings of board 29‑4‑707
Disclosure of interests required 29‑4‑708
General powers of the authority - repeal 29‑4‑709
Power of board - housing facility plans 29‑4‑710
Powers of the board - executive director - housing facility loans - assistance in housing facility development 29‑4‑710.5
Powers of the board - lease, sale, or financing of projects 29‑4‑710.6
Powers of the board - loans for capital 29‑4‑710.7
Powers of the board - issuance of bonds to maintain balances in the unemployment compensation fund 29‑4‑711
Power of board - housing facility plans - mortgage purchase - loans to lenders 29‑4‑712
Powers of the board - executive director - mortgage purchase - loans to lenders - assistance in providing housing facilities 29‑4‑713
Power of the board - home improvement loans 29‑4‑714
Powers of the board - home improvement loans - purchase of such loans - loans to lenders 29‑4‑716
Standards for approval of organizations 29‑4‑717
Findings - percentage of low-income families required 29‑4‑718
Bonds and notes 29‑4‑719.1
Economic development fund 29‑4‑720
Validity of any pledge 29‑4‑721
Remedies 29‑4‑722
Negotiable instruments 29‑4‑723
Bonds eligible for investment 29‑4‑724
Refunding bonds 29‑4‑725
Nonliability of state for bonds 29‑4‑726
Members of authority not personally liable on bonds 29‑4‑727
Property taxation - exemption of bonds from taxation 29‑4‑728
Revolving fund established 29‑4‑729
Reporting 29‑4‑730
Powers of the authority - investments 29‑4‑731
Agreement of this state 29‑4‑732
This part 7 not a limitation of powers 29‑4‑734
Termination of powers 29‑4‑735
Colorado strategic seed fund council - creation 29‑4‑1001
Short title 29‑4‑1002
Definitions 29‑4‑1003
Rent reporting for credit pilot program - created - third-party contractor - participant landlords and participant tenants - financial education courses required - compensation for participant landlords 29‑4‑1004
Rent reporting for credit pilot program - rules 29‑4‑1005
Rent reporting for credit pilot program - report 29‑4‑1006
Repeal of part 29‑4‑1101
Short title 29‑4‑1102
Legislative declaration 29‑4‑1103
Definitions 29‑4‑1104
Middle-income housing authority - creation - board of directors - meetings - records - tax exempt - audit - report 29‑4‑1105
General powers 29‑4‑1106
Additional powers - affordable workforce housing projects 29‑4‑1107
Powers of the board - selection of projects - ownership - report 29‑4‑1108
Relationship of authority and other jurisdictions 29‑4‑1109
Bonds 29‑4‑1110
Agreement of the state not to limit or alter rights of obligees 29‑4‑1111
Issuance of funds to the authority 29‑4‑1112
No action maintainable 29‑4‑1113
Judicial examination of powers, acts, proceedings, or contracts of the authority 29‑4‑1114
This part 11 not a limitation of powers 29‑4‑1115
Construction of this part 11
Green check means up to date. Up to date

Current through Fall 2024

§ 29-4-704’s source at colorado​.gov