The board of regents is prohibited from creating any debt against the university, in any manner encumbering the same, or incurring any expense beyond its ability to pay from the annual income of the university for the current year.
Source: G.L. � 2774. G.S. � 3465. R.S. 08: � 6962. C.L. � 8033. CSA: C. 169, � 36. CRS 53: � 124-2-33. C.R.S. 1963: � 124-2-23.
23-20-136. Fitzsimons trust fund - creation - legislative declaration - repeal. (1) The general assembly hereby finds and declares that the university of Colorado health sciences center will be moving to the former Fitzsimons Army base over the next several decades; that the health sciences center can expect a major portion of the move to take place in the next ten to fifteen years; that creation of a trust fund would allow the state to set aside funds over a period of years in order to have moneys available at the time the most costly capital construction requests would be expected to occur; and that, in addition to the state moneys to be dedicated to the trust fund, other sources of funding for the move are being sought from the federal government, private and public sources, and the health sciences center and university hospital.
(2) In light of the projected amounts of state revenues that will be available over the next six years, the general assembly hereby finds and declares that a stable, predictable, and consistent source of revenues for the university of Colorado health sciences center's move to the former Fitzsimons Army base will better allow the state to help fund such a move. In order to provide a consistent source of revenues, the general assembly further finds and declares that it is appropriate to create a trust fund that will be provided with an annual amount of principal and that will generate an annual amount of interest that is dedicated to the university of Colorado health sciences center's move to the former Fitzsimons Army base.
(3) (a) There is hereby created in the state treasury the university of Colorado health sciences center at Fitzsimons trust fund, referred to in this section as the Fitzsimons trust fund, the principal of which shall consist of those general fund revenues that may be transferred to the capital construction fund as provided in section 24-75-302 (2), C.R.S., and then appropriated from the capital construction fund to the Fitzsimons trust fund and of moneys appropriated to the Fitzsimons trust fund from the capital construction fund pursuant to subsection (3.5) of this section. The principal and interest of the Fitzsimons trust fund shall not be expended or appropriated for any purpose other than that stated in subsection (5) of this section. The state treasurer may, in the state treasurer's discretion, deposit, redeposit, invest, and reinvest moneys accrued or accruing to the Fitzsimons trust fund in the types of deposits and investments authorized in sections 24-36-109, 24-36-112, and 24-36-113, C.R.S.
(b) Repealed.
(c) Notwithstanding any provision of paragraph (a) of this subsection (3) to the contrary, on May 5, 2010, the state treasurer shall deduct five million fifty-four thousand nine hundred eighteen dollars from the Fitzsimons trust fund and transfer such sum to the general fund.
(d) Notwithstanding any provision of paragraph (a) of this subsection (3) to the contrary, on July 1, 2010, the state treasurer shall deduct three million four hundred forty-eight thousand five hundred thirty-seven dollars from the Fitzsimons trust fund and transfer such sum to the general fund.
(3.5) (a) For the 2016-17 fiscal year and for each fiscal year thereafter in which the state receives money pursuant to the master settlement agreement, and in which money is due to a lessor under a financed purchase of an asset or certificate of participation agreement authorized pursuant to section 3 of House Bill 03-1256, enacted in 2003, the state treasurer shall transfer to the capital construction fund and the state controller shall transfer from the capital construction fund to the Fitzsimons trust fund, except as otherwise provided in section 24-75-1104.5 (5), eight percent of the total amount received by the state pursuant to the master settlement agreement, other than attorney fees and costs, during the preceding fiscal year.
(b) As used in this subsection (3.5), unless the context otherwise requires, master settlement agreement means the master settlement agreement, the smokeless tobacco master settlement agreement, and the consent decree approved and entered by the court in the case denominated State of Colorado, ex rel. Gale A. Norton, Attorney General v. R.J. Reynolds Tobacco Co.; American Tobacco Co., Inc.; Brown & Williamson Tobacco Corp.; Liggett &Myers, Inc.; Lorillard Tobacco Co., Inc.; Philip Morris, Inc.; United States Tobacco Co.; B.A.T. Industries, P.L.C.; The Council For Tobacco Research--U.S.A., Inc.; and Tobacco Institute, Inc., Case No. 97 CV 3432, in the district court for the city and county of Denver.
(4) On September 1, 1998, and on September 1 of each year thereafter, the state treasurer shall certify to the general assembly the amount of interest actually earned on the principal of the Fitzsimons trust fund during the previous fiscal year and shall provide an estimate of the interest expected to be earned on such principal during the current fiscal year.
(5) Money in the Fitzsimons trust fund may be appropriated to pay for capital construction projects for the university of Colorado health sciences center at the former Fitzsimons Army base that have received the prior approval of the board of regents of the university of Colorado, the Colorado commission on higher education, the capital development committee, the general assembly, and the joint budget committee or for payments on any financed purchase of an asset or certificate of participation agreement authorized pursuant to section 3 of House Bill 03-1256, as enacted at the first regular session of the sixty-fourth general assembly.
(6) The creation of the Fitzsimons trust fund shall in no way reduce or eliminate the opportunity of the university of Colorado health sciences center to seek funding for capital and controlled maintenance projects through the normal annual capital development committee prioritization process.
(7) All interest derived from the deposit and investment of moneys in the Fitzsimons trust fund shall be credited to said fund. At the end of any fiscal year, all unexpended and unencumbered moneys in the Fitzsimons trust fund shall remain therein and shall not be credited or transferred to the general fund or any other fund.
(8) This section is repealed, effective July 1, 2032.
Source: L. 98: Entire section added, p. 804, � 1, effective May 22. L. 99: (7) amended, p. 624, � 23, effective August 4. L. 2002: (3) amended, p. 152, � 7, effective March 27. L. 2003: (3)(a) and (5) amended and (3.5) added, p. 1378, � 8, effective April 28. L. 2004: (3.5)(a) amended, p. 1709, � 6, effective June 4; (3)(a) amended, p. 1213, � 106, effective August 4. L. 2005: (3.5)(a) amended, p. 767, � 34, effective June 1. L. 2006: (3.5)(a) amended, p. 1036, � 4, effective May 25. L. 2008: (8) amended, p. 297, � 1, effective April 3. L. 2009: (3.5)(a) amended, (SB 09-269), ch. 333, p. 1766, � 4, effective June 1; (3)(a) amended, (SB 09-228), ch. 410, p. 2257, � 6, effective July 1. L. 2010: (3)(c) and (3)(d) added, (HB 10-1389), ch. 206, p. 897, � 9, effective May 5. L. 2016: (3)(b) repealed and (3.5)(a) amended, (HB 16-1408), ch. 153, pp. 472, 461, �� 26, 4, effective July 1. L. 2021: (3.5)(a) and (5) amended, (HB 21-1316), ch. 325, p. 2020, � 26, effective July 1.
Cross references: For the legislative declaration contained in the 2003 act amending subsections (3)(a) and (5) and enacting subsection (3.5), see section 1 of chapter 190, Session Laws of Colorado 2003.
23-20-137. Health sciences center - disposition of property - use of proceeds. (1) On or before June 30, 2004, the university of Colorado shall develop a master plan for the development, sale, and use of the campus at ninth avenue and Colorado boulevard and the university of Colorado hospital.
(2) On or before June 30, 2006, the university of Colorado shall enter into an agreement with a third-party master developer to carry out the development, sale, or use of the real estate interests of the university of Colorado in the campus at ninth avenue and Colorado boulevard, including, but not limited to, the university's real estate interests in the ground leased to the university of Colorado hospital, that will maximize the moneys available for the move of the Colorado health sciences center to the former Fitzsimons Army base.
(3) (a) For purposes of this subsection (3), unless the context otherwise requires, net proceeds from ninth avenue and Colorado boulevard means the proceeds from the sale, ground lease, or other disposition of the real estate interest of the university of Colorado in the ninth avenue and Colorado boulevard campus, including, but not limited to, the university's interests in the ground leased to the university of Colorado hospital, less actual and reasonable costs of completing the transaction and less any unsatisfied debt or other obligation relating to such real estate interests.
(b) Of the net proceeds from ninth avenue and Colorado boulevard, up to fifteen million dollars shall be deposited into the general fund. Any net proceeds from ninth avenue and Colorado boulevard in excess of fifteen million dollars shall be divided equally with one-half being deposited into the general fund and one-half being retained by the university of Colorado for the development of the Fitzsimons campus.
Source: L. 2003: Entire section added, p. 1378, � 7, effective April 28.
Cross references: For the legislative declaration contained in the 2003 act enacting this section, see section 1 of chapter 190, Session Laws of Colorado 2003.
23-20-138. Health sciences center - definitions - accountable student program - creation. (1) As used in this section, unless the context otherwise requires:
(a) Accountable student means a person who, as of the date of his or her selection for admission into a university of Colorado at Denver and health sciences center professional health care program, will not be receiving funding from the state of Colorado or a cooperative state for any portion of the costs incurred in participating in a university of Colorado at Denver and health sciences center professional health care program.
(b) Board means the board of regents of the university of Colorado.
(c) Cooperative state means a state that has entered into a cooperative agreement with the state of Colorado pursuant to section 24-60-601, C.R.S.
(d) Special support fee means the fee determined by the board pursuant to subsection (5) of this section to reflect the difference between the actual costs of education for an accountable student enrolled in a university of Colorado at Denver and health sciences center professional health care program and the tuition assessed to the accountable student.
(2) The board is hereby authorized to enter into a contract concerning the assessment of a special support fee with each accountable student.
(3) Each accountable student shall enter into a contract with the board that shall provide that, as a condition of the accountable student's continued enrollment in a university of Colorado at Denver and health sciences center professional health care program, a special support fee shall be paid annually to the board by or on behalf of the accountable student pursuant to subsection (4) of this section.
(4) Beginning in the 2006-07 academic year, the board may annually assess each accountable student a special support fee as the board determines necessary pursuant to subsection (5) of this section. The fee required to be collected pursuant to this subsection (4) is based on an accountable student's status as an accountable student at the time of selection for admission into a university of Colorado at Denver and health sciences center professional health care program and shall not be reduced or waived regardless of the accountable student's future status as an in-state student, pursuant to the provisions of section 23-7-103, at any time during the accountable student's participation in a university of Colorado at Denver and health sciences center professional health care program. If after the first year the accountable student ceases to participate in his or her university of Colorado at Denver and health sciences center professional health care program for reasons other than a medical disability, he or she shall repay to the university of Colorado at Denver and health sciences center professional health care program the difference between the amount paid for the special support fee and the amount of tuition that would have been otherwise assessed to the accountable student.
(5) The board shall determine annually the amount of the special support fee based on recommendations from each university of Colorado at Denver and health sciences center campus offering professional health care program courses.
(6) The fee-for-service contract negotiated between the board and the department of higher education pursuant to section 23-18-303.5 must specify the amount of funding for educational services provided to graduate students by the state of Colorado. A graduate student receiving educational services paid for by the state of Colorado is not eligible to be an accountable student.
Source: L. 2006: Entire section added, p. 522, � 1, effective August 7. L. 2014: (6) amended, (HB 14-1319), ch. 169, p. 614, � 13, effective May 9. L. 2020: (6) amended, (HB 20-1366), ch. 181, p. 835, � 15, effective July 1, 2021.