C.R.S. Section 43-4-701
Legislative declaration

(1)

The general assembly hereby finds and declares that:

(a)

The rapid growth of the economy of this state has prompted new and ever-increasing uses of public highways, roads, and other transportation infrastructure, and the existing transportation infrastructure of this state cannot accommodate such greatly increased uses;

(b)

One of the major concerns of the citizens of this state is the ability of the state and local governments to address the long-term transportation infrastructure needs of this state that are critical to the continued growth of the state’s economy and the maintenance of citizens’ quality of life;

(c)

In an attempt to address this concern, the state has significantly increased the amount of state revenues available in recent years to fund critical, priority transportation infrastructure needs, but current transportation funding mechanisms do not provide adequate revenues to keep pace with the increasing demands on transportation infrastructure statewide;

(d)

By utilizing revenue anticipation notes for the financing of transportation projects that may be financed, in whole or in part, with federal transportation funds, a significant amount of up-front revenues can be generated for such federal aid transportation projects which will enable the state to design and construct such transportation projects without using revenues available for other important transportation projects;

(e)

Utilizing revenue anticipation notes to finance federal aid transportation projects also results in significant cost savings to the state, since such transportation projects can be completed at present-day costs and at an accelerated pace, but the state needs to be able to act quickly to issue revenue anticipation notes in order to realize these cost savings; and

(f)

It is reasonable and necessary to utilize revenue anticipation notes for the financing of federal aid transportation projects.

(2)

The general assembly further finds and declares that:

(a)

The current and long-standing process of funding the transportation infrastructure needs of the state, which involves the continuous appropriation of certain state revenues to the department of transportation by the general assembly and the annual allocation of state and federal funds to specific projects and purposes by the transportation commission, is intended to ensure that such funding decisions are based on annual determinations of revenue availability and transportation infrastructure needs statewide;

(b)

Making the payment of revenue anticipation notes issued in accordance with this part 7 subject to annual allocation by the transportation commission is equivalent to making such payments subject to annual legislative appropriation, since the annual allocation process requires the transportation commission to make the same annual budgeting decisions that the general assembly makes through the appropriation process;

(c)

Revenue anticipation notes issued in accordance with the provisions of this part 7 that evidence the right to receive payments in subsequent fiscal years contingent upon funds for such payments being allocated on an annual basis in the sole discretion of the transportation commission do not constitute “a debt by loan in any form” under section 3 of article XI of the state constitution based upon the Colorado supreme court’s decision in Submission of Interrogatories on House Bill 99-1325, Case No. 99SA108 (April 23, 1999), since the notes are not a legally enforceable obligation against the state in future years and the annual allocation of such funds for the payment of such notes is in the sole discretion of the transportation commission; and

(d)

In accordance with the Colorado supreme court decision in Submission of Interrogatories on House Bill 99-1325, Case No. 99SA108 (April 23, 1999), the proceeds of any transportation revenue anticipation notes issued in accordance with this part 7 are not included in state fiscal year spending for purposes of section 20 of article X of the state constitution and article 77 of title 24, C.R.S.

Source: Section 43-4-701 — Legislative declaration, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-43.­pdf (accessed Oct. 20, 2023).

43‑4‑201
Highway users tax fund - created 43‑4‑202
Definitions 43‑4‑203
Sources of revenue 43‑4‑204
Appropriation 43‑4‑205
Allocation of fund 43‑4‑206
State allocation 43‑4‑207
County allocation 43‑4‑208
Municipal allocation 43‑4‑209
Withholding municipal allocations 43‑4‑210
Estimated county allocations 43‑4‑211
Estimated municipal allocations 43‑4‑212
Payment of balances 43‑4‑213
Forfeiture of funds 43‑4‑214
Future municipalities eligible 43‑4‑216
Liability unaffected 43‑4‑217
Additional funding - road usage fees - rules - legislative declaration - definitions 43‑4‑218
Additional funding - retail delivery fee - fund created - simultaneous collection of enterprise fees - rules - legislative declaration - definitions 43‑4‑301
Legislative declaration 43‑4‑302
Powers of commission - contracts approval 43‑4‑401
Fund created 43‑4‑402
Source of revenues - allocation of money - special account created 43‑4‑403
Alcohol and drug impaired driving prevention enforcement program - minimum requirements 43‑4‑404
Formula for allocation of money - rules 43‑4‑501
Short title 43‑4‑502
Legislative declaration 43‑4‑503
Definitions 43‑4‑504
Creation of authorities 43‑4‑505
Board of directors 43‑4‑506
Powers of the authority - inclusion or exclusion of property - determination of public highway alignment 43‑4‑506.5
Traffic laws - toll collection 43‑4‑507
Local improvement districts 43‑4‑508
Value capture areas 43‑4‑509
Bonds 43‑4‑510
Cooperative powers 43‑4‑511
Powers of governmental units 43‑4‑512
Referendum 43‑4‑513
Notice - opportunity for comment 43‑4‑514
Notice - coordination of information - report 43‑4‑515
Successor to prior entity - assumption of obligations and liabilities - action for mandamus or injunctive relief 43‑4‑516
Agreement of the state not to limit or alter rights of obligees 43‑4‑517
Investments 43‑4‑518
Bonds eligible for investment 43‑4‑519
Exemption from taxation - securities laws 43‑4‑520
No action maintainable 43‑4‑521
Termination of revenue-raising powers 43‑4‑522
Judicial examination of powers, acts, proceedings, or contracts of an authority 43‑4‑601
Short title 43‑4‑602
Definitions 43‑4‑603
Creation of authorities - exercise of powers of an authority by transportation planning organization 43‑4‑604
Board of directors 43‑4‑605
Powers of the authority - inclusion or exclusion of property - determination of regional transportation system alignment - fund created - repeal 43‑4‑605.5
Preservation of state highway funding - legislative declaration 43‑4‑606
Establishment of regional transportation activity enterprises 43‑4‑607
Traffic laws - toll collection 43‑4‑607.5
Streetscape enhancements - local and private authority 43‑4‑608
Local improvement districts 43‑4‑609
Bonds 43‑4‑610
Cooperative powers 43‑4‑611
Powers of governmental units 43‑4‑612
Referendum 43‑4‑613
Notice - opportunity for comment 43‑4‑614
Notice - coordination of information 43‑4‑615
Agreement of the state not to limit or alter rights of obligees 43‑4‑616
Investments 43‑4‑617
Bonds eligible for investment 43‑4‑618
Exemption from taxation - securities laws 43‑4‑619
No action maintainable 43‑4‑620
Judicial examination of powers, acts, proceedings, or contracts of an authority 43‑4‑621
Calculation of fiscal year spending limit - first full fiscal year’s spending as base 43‑4‑622
Exercise of authority powers by transportation planning organization 43‑4‑701
Legislative declaration 43‑4‑702
Definitions 43‑4‑703
Submission of ballot question regarding issuance of transportation revenue anticipation notes 43‑4‑704
Powers of executive director 43‑4‑705
Revenue anticipation notes - ballot issue - repeal 43‑4‑706
Financial obligations subject to annual budget allocation 43‑4‑707
Note proceeds 43‑4‑708
Investments 43‑4‑709
Powers of political subdivisions 43‑4‑710
Notes legal investments 43‑4‑711
Exemption from taxation 43‑4‑712
No action maintainable 43‑4‑713
Annual reports 43‑4‑715
Construction of part 43‑4‑801
Short title 43‑4‑802
Legislative declaration 43‑4‑803
Definitions 43‑4‑804
Highway safety projects - surcharges and fees - crediting of money to highway users tax fund - definition 43‑4‑805
Statewide bridge enterprise - creation - board - funds - powers and duties - legislative declaration - definitions 43‑4‑806
High-performance transportation enterprise - creation - board - funds - powers and duties - limitations - reporting requirements - violations on the peak period shoulder lanes - legislative declaration - definitions 43‑4‑807
Bonds - investments - bonds eligible for investment and exempt from taxation 43‑4‑808
Toll highways - special provisions - limitations 43‑4‑809
Enterprises - applicability of other laws 43‑4‑810
Fees and surcharges - limitations on use 43‑4‑811
Transit and rail division - funding for local transit grants 43‑4‑812
Use of user fees for transit - legislative declaration 43‑4‑814
Military deployment - motor vehicle fees exempted - penalty 43‑4‑901
High-visibility alcohol and drug impaired driving enforcement 43‑4‑902
Local high-visibility alcohol and drug impaired driving enforcement - qualified program - report - rules 43‑4‑903
High-visibility alcohol and drug impaired driving enforcement funding 43‑4‑1101
Legislative declaration 43‑4‑1102
Definitions 43‑4‑1103
Multimodal transportation options fund - creation - revenue sources for fund - use of fund 43‑4‑1201
Legislative declaration 43‑4‑1202
Definitions 43‑4‑1203
Clean transit enterprise - creation - board - powers and duties - rules - fees - fund 43‑4‑1301
Legislative declaration 43‑4‑1302
Definitions 43‑4‑1303
Nonattainment area air pollution mitigation enterprise - creation - board - powers and duties - rules - fees - fund 43‑4‑1401
Definitions 43‑4‑1402
Colorado wildlife safe passages fund - creation - use of fund - report 43‑4‑1501
Legislative declaration 43‑4‑1502
Definitions 43‑4‑1503
Fuels impact enterprise - creation - powers and duties 43‑4‑1504
Fuels impact enterprise cash fund - definition 43‑4‑1505
Fuels impact reduction fee 43‑4‑1506
Fuels impact reduction grant program 43‑4‑1507
Repeal of part
Green check means up to date. Up to date

Current through Fall 2024

§ 43-4-701’s source at colorado​.gov