C.R.S. Section 36-1-153
Investment and development fund


(1)

There is hereby created the state board of land commissioners investment and development fund, referred to in this section as the “fund”. The fund shall consist of moneys credited to the fund pursuant to section 36-1-116 (1)(b)(II). Any balance in the fund at the close of a fiscal year and any interest earned on moneys in the fund shall remain in the fund and shall not revert to the permanent school fund. The fund is to be under the control of and to be administered by the state board of land commissioners. Moneys in the fund shall be continuously appropriated to the state board for the purposes set forth in this section.

(2)

Intentionally left blank —Ed.

(a)

Money in the fund shall be used at the discretion of the state board of land commissioners to hire staff, contract for services, make purchases, make annual payments on any financed purchase of an asset or certificate of participation agreements the state board instructed the state treasurer to enter into as allowed in section 36-1-118.5, and take such other actions as the state board deems appropriate to provide for the development of additional value-added benefit for the state’s trust lands, including both portfolio enhancement and additional income. Such actions may include, but are not limited to, the rezoning, platting, master planning, or other development activities that increase the value of or rate of return from the state’s trust lands. The state board of land commissioners may also use up to one million dollars per fiscal year of the money in the fund for asset maintenance, including, but not limited to, upkeep and replacement of buildings, agricultural sprinklers, fences, windmills, and water wells.

(b)

The state board of land commissioners shall notify the state treasurer in writing of the amount that needs to be transferred from the investment and development fund to the state board of land commissioners financed fund created in section 36-1-118.5 (7), and no later than thirty days after receipt of such notification, the state treasurer shall transfer such sum to the state board of land commissioners financed fund created in section 36-1-118.5 (7).

(3)

The controller shall authorize disbursements from the fund as directed by the state board of land commissioners on receipt of a voucher from the state board stating that the disbursement is to accomplish a purpose set forth in this section.

(4)

On or before November 1, 2011, and on or before each November 1 thereafter, the state board of land commissioners shall deliver information on the portfolio enhancement and additional income generated as a result of this section, including information detailing the use of the fund for asset maintenance, as specified in section 36-1-102 (8). Each report shall include estimates of the increase in portfolio enhancement and income for the then-current fiscal year and the five succeeding state fiscal years.

(5)

and (6) Repealed.

Source: Section 36-1-153 — Investment and development fund, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-36.­pdf (accessed Oct. 20, 2023).

36‑1‑100.3
Definitions
36‑1‑101
Record of proceedings
36‑1‑101.5
Appointment of members - duties
36‑1‑102
Employees - director - bonds - report
36‑1‑104
Deed - execution - copy of record
36‑1‑105
Selection and location of lands
36‑1‑107
Resolution of selection
36‑1‑107.5
Long-term stewardship trust - nomination
36‑1‑108
Appraisal - classification - plat
36‑1‑109
Reclassification
36‑1‑110
Books and plats - public records
36‑1‑112
Fees - disposition of fees
36‑1‑112.5
Fiscal impact study
36‑1‑113
Leases - rental - mineral resources lands
36‑1‑114
Adjustment of rentals
36‑1‑115
Development of oil, gas, or geothermal resource areas
36‑1‑116
Disposition of rentals, royalties, and timber sale proceeds
36‑1‑117
Leases, rentals payable in advance
36‑1‑118
Terms of leasing - renewals - sale of leased land
36‑1‑118.3
Immunity from civil liability
36‑1‑118.5
Financed purchase of an asset or certificate of participation agreements for commercial real property - state board of land commissioners financed fund - legislative declaration - definition
36‑1‑119
Purchase of improvements
36‑1‑120
Leases - lands in city limits
36‑1‑120.5
Land subject to development - leases
36‑1‑121
Trespass - penalty - bond
36‑1‑122
Platting and sale in lots and blocks
36‑1‑123.5
Sale or lease of state lands for federal military real property expansion
36‑1‑124
Sale of state lands
36‑1‑124.3
Acquisition of state trust lands by governmental entities
36‑1‑124.5
Nonsimultaneous exchanges of state trust lands - fund
36‑1‑125
Reservations of rights on sale
36‑1‑126
Delinquent payments
36‑1‑127
Forfeiture - new sale
36‑1‑128
Place of payment - venue
36‑1‑129
Bonds
36‑1‑131
State land board hearings - rules
36‑1‑132
Lands sold subject to taxation
36‑1‑133
Rebate of taxes on reverted land
36‑1‑134
Proceeds of sale - funds
36‑1‑135
Proceeds of leases - disposition
36‑1‑136
Rights-of-way granted - reversion
36‑1‑137
Sale of lands to procure irrigation
36‑1‑138
Mineral section - personnel - duties
36‑1‑140
Mineral locations - posting - lease
36‑1‑141
Exchange of lands with government
36‑1‑142
Receipts from agricultural lands
36‑1‑143
Statement to board of governors of the Colorado state university system
36‑1‑144
Agreements with general agencies
36‑1‑145
Land commissioners’ receipts - appropriation
36‑1‑147
Geothermal leases
36‑1‑147.5
Leasing arrangements for renewable energy resources development - legislative declaration - definitions
36‑1‑148
Land and water management fund
36‑1‑149
Cultivation of state land - legislative declaration
36‑1‑150
Conservation easements
36‑1‑151
Public schools - access to state lands
36‑1‑152
Public school districts - charter schools - lease, purchase, or other use of state lands
36‑1‑153
Investment and development fund
36‑1‑153.5
Annual income and inventory report
36‑1‑153.7
Commercial real property operating fund - created
36‑1‑154
Severability
Green check means up to date. Up to date

Current through Fall 2024

§ 36-1-153’s source at colorado​.gov