C.R.S. Section 43-4-706
Financial obligations subject to annual budget allocation

(1)

Any revenue anticipation notes issued in accordance with this part 7 shall constitute a contract between the department and the owner or holder thereof. In no event shall any decision by the commission not to allocate revenue anticipation note proceeds not otherwise pledged, state matching funds, or federal transportation funds in any given fiscal year for the payment of such notes or any costs associated with the issuance and administration of such notes be construed to constitute an action impairing such contract.

(2)

Intentionally left blank —Ed.

(a)

Every contract entered into by the executive director pursuant to the provisions of this part 7 shall provide that all financial obligations of the state under such contracts are subject to allocation on an annual basis by the commission, in its sole discretion, in accordance with section 43-1-113 and that such contracts shall not be deemed or construed as creating an indebtedness of the state within the meaning of the state constitution or the laws of the state of Colorado concerning or limiting the creation of indebtedness by the state of Colorado.

(b)

In addition, revenue anticipation notes issued by the executive director pursuant to the provisions of this part 7 and every contract relating to the issuance of such notes shall provide that all financial obligations of the state in regard to the portion of the principal of and interest on such notes and the costs associated with the issuance and administration of such notes that may be paid from federal transportation funds pursuant to federal law and any agreement between the United States department of transportation and the department or the political subdivision that is or is to be the initial recipient of such federal transportation funds are subject to continuing federal appropriations of federal transportation funds at a level equal to or greater than the amount needed to pay the federal share of principal, interest, and costs on the revenue anticipation notes.

(3)

The executive director may pay all fees, expenses, and commissions that the executive director deems necessary or advantageous in connection with the sale of notes.

(4)

Neither the members of the commission, the executive director, nor any person executing revenue anticipation notes in accordance with the provisions of this part 7 shall be liable personally on the notes or be subject to any personal liability or accountability by reason of the issuance thereof.

Source: Section 43-4-706 — Financial obligations subject to annual budget allocation, 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

§ 43-4-706’s source at colorado​.gov