C.R.S. Section 32-15-112
Operating revenues

  • use

(1)

Any operating revenues generated by the district, including, but not limited to, lease payments, fees, rentals, rates, tolls, penalties, and charges for services, programs, or facilities furnished by the district, shall be used by the board for the following purposes:

(a)

To pay the principal, interest, and prepayment premium, if any, on outstanding special obligation bonds issued by the board pursuant to the provisions of this article;

(b)

To pay for the expenses incurred by the board in the general operation of the stadium;

(c)

To provide for the repair and maintenance of the stadium;

(d)

To provide for capital improvements to the stadium;

(e)

To provide the counties within the district and the city and county of Denver with a benefit from the revenues, other than sales tax revenues or admissions tax revenues, derived from the operation of the stadium during the period of time the district is collecting the sales tax.

(2)

If operating revenues and sales tax revenues are insufficient for all of the purposes set forth in subsection (1) of this section, the purpose set forth in paragraph (a) of said subsection (1) shall have first priority of such operating revenues if such operating revenues are pledged to secure the payment of the special obligation bonds.

Source: Section 32-15-112 — Operating revenues - use, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-32.­pdf (accessed Oct. 20, 2023).

32‑15‑101
Short title
32‑15‑102
Legislative declaration
32‑15‑103
Definitions
32‑15‑104
Creation of district - area of district
32‑15‑104.3
District area - town of Castle Rock in Douglas county
32‑15‑104.5
Annexation of enclaves
32‑15‑105
Board of directors - membership - qualifications
32‑15‑106
Board of directors - powers and duties
32‑15‑107
Authorizing election
32‑15‑108
Position of trust - conflicts of interest
32‑15‑109
Records of board - audits - legislative oversight - powers and duties of state auditor
32‑15‑110
Sales tax imposed - collection - administration of tax - discontinuance
32‑15‑110.5
Admissions tax imposed - collection - discontinuance
32‑15‑111
Sales tax and admissions tax revenues - use
32‑15‑112
Operating revenues - use
32‑15‑113
Issuance of special obligation bonds
32‑15‑114
Pledge of sales and admissions tax revenues and net operating revenues
32‑15‑115
Payment, recital, and securities
32‑15‑116
Incontestable recital in securities
32‑15‑117
Limitation upon payment
32‑15‑118
Negotiability
32‑15‑119
Sale of special obligation bonds
32‑15‑120
Contracts
32‑15‑121
Management agreement - operation of stadium
32‑15‑122
Lease of stadium
32‑15‑123
Revenue sharing
32‑15‑125
Limitations upon liabilities
32‑15‑125.5
No action maintainable
32‑15‑126
Sale of real and personal property of district
32‑15‑127
Limitations upon promotional activities
32‑15‑128
Football stadium site selection commission - creation - membership
32‑15‑129
Commission - powers and duties
32‑15‑130
Conflicts of interest prohibited
32‑15‑131
Criteria - stadium site - stadium
32‑15‑132
Consultation with urban land institute - consideration of recommendations
32‑15‑133
Repeal of article
Green check means up to date. Up to date

Current through Fall 2024

§ 32-15-112’s source at colorado​.gov