C.R.S. Section 43-3-202.5
Public-private initiatives

  • legislative declaration

(1)

The general assembly hereby finds and declares that:

(a)

The department of transportation is in need of funds to invest in new infrastructure projects, including turnpikes, within the state transportation system, and public-private partnerships can provide the state with a new source of capital for such projects;

(b)

Privately-developed transportation projects can result in time and cost savings, risk reduction, and new tax revenues to the state; and

(c)

Public-private agreements can be utilized by the state not only for the development of new turnpikes but also for the modernization and improvement of existing turnpikes.

(2)

The department of transportation may enter into public-private initiatives pursuant to part 12 of article 1 of this title for the following purposes:

(a)

To design, finance, construct, and operate a new turnpike project within the state; or

(b)

To improve an existing turnpike project in the state by modernizing, upgrading, expanding, or maintaining an existing turnpike facility.

(3)

Intentionally left blank —Ed.

(a)

The department of transportation is authorized to solicit and consider proposals, enter into agreements, grant public benefits, and accept contributions for public-private initiatives pursuant to part 12 of article 1 of this title concerning the purposes set forth in subsection (2) of this section.

(b)

As used in this subsection (3), “public benefit” has the same meaning as set forth in section 43-1-1201 (2).

(4)

A public-private initiative under this section shall include a provision that the public or private entity shall secure and maintain liability insurance coverage during the construction and improvement of any turnpike project in amounts appropriate to protect a project’s viability.

Source: Section 43-3-202.5 — Public-private initiatives - legislative declaration, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-43.­pdf (accessed Oct. 20, 2023).

43‑3‑101
Freeways - how declared - commercial enterprises prohibited - definition 43‑3‑102
Engineer to divide freeway 43‑3‑103
Engineer may close street or road 43‑3‑104
Street not to open into freeway 43‑3‑105
When local service roads laid out 43‑3‑106
Acquiring land and right-of-way 43‑3‑107
Acquisition by commissioners and department of transportation jointly 43‑3‑201
Legislative declaration 43‑3‑202
Powers granted to department 43‑3‑202.5
Public-private initiatives - legislative declaration 43‑3‑203
Bonds authorized 43‑3‑204
Bond details 43‑3‑205
Trust indentures 43‑3‑206
Payment of bonds - use and disposition of fund 43‑3‑207
Bond lien 43‑3‑208
Bond proceeds 43‑3‑209
Tax exemption 43‑3‑210
Refunding bonds 43‑3‑211
Rights of bondholders 43‑3‑212.5
Disposition of tolls - when bonds issued 43‑3‑212.6
Disposition of tolls - when bonds not issued 43‑3‑213
No debt authorized 43‑3‑214
Succession of powers and duties 43‑3‑215
Legislative declaration 43‑3‑216
Additional powers 43‑3‑217
Execution 43‑3‑218
Bonds legal investments 43‑3‑219
Interest earnings 43‑3‑220
Notice of investment opportunity 43‑3‑301
Definitions 43‑3‑302
Traffic laws - toll collection - definitions 43‑3‑303
Toll roads must be kept in repair 43‑3‑304
Noncompete agreements 43‑3‑401
Legislative declaration 43‑3‑402
Powers and duties of transportation commission 43‑3‑403
Authority to construct tunnels 43‑3‑413
Fees, fares, tolls - contracts - rules 43‑3‑414
Vesting powers in transportation commission
Green check means up to date. Up to date

Current through Fall 2024

§ 43-3-202.5’s source at colorado​.gov