C.R.S. Section 32-15-126
Sale of real and personal property of district

Upon completion of the renovation of Mile High stadium or the construction of a new stadium pursuant to the provisions of this article, the board shall make a good faith effort to sell the real and personal property of the district, including the stadium, to any qualified buyer subject to the leasehold interest and other contract rights of the franchise. The board shall establish criteria to determine qualified buyers. The board shall not accept any offer from any qualified buyer for such real and personal property of the district for an amount less than the total amount of outstanding obligations of the district or the amount of sales tax revenues used by the board to acquire a site for the stadium and to construct the stadium, whichever is greater. Notwithstanding any other provision of this section to the contrary, the district shall not be required to sell the real and personal property of the district if such sale would adversely affect the federal tax exempt status of the interest on the special obligation bonds issued by the district pursuant to this article.

Source: Section 32-15-126 — Sale of real and personal property of district, 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

§ 32-15-126’s source at colorado​.gov