As used in this part 7, unless the context otherwise requires:
(1) Additional financed purchase of an asset or certificate of participation agreement means any transaction entered into on or after July 1, 1987, in which the state, acting by and through the department of personnel as provided by this part 7, is the lessee of real or personal property, which shall be used by the state and in which the state has an option to purchase such real or personal property.
(2) Director means the executive director of the department of personnel.
(3) Existing financed purchase of an asset or certificate of participation agreement means any financed purchase of an asset or certificate of participation agreement entered into prior to July 1, 1987, in which the state is the lessee of real or personal property which shall be used by the state and in which the state has an option to purchase such real or personal property.
(3.3) Financed purchase of asset means a financing agreement that includes the purchase of an asset.
(3.5) Repealed.
(4) Master financing program means the refinancing, revising, replacement, or consolidation of any existing or additional financed purchase of an asset or certificate of participation agreement or agreements.
(5) State means the state of Colorado or any department, agency, or commission thereof, including any state institution of higher education and the board of directors of the Auraria higher education center, but does not include the legislative department when acting pursuant to section 2-2-320 (2)(b), C.R.S.
Source: L. 87: Entire part added, p. 1116, � 1, effective June 20. L. 95: (1) and (2) amended, p. 660, � 87, effective July 1. L. 2009: (3.5) added, (HB 09-1218), ch. 132, p. 571, � 4, effective July 1. L. 2010: (5) amended, (HB 10-1020), ch. 111, p. 370, � 2, effective April 15. L. 2021: (1), (3), and (4) amended, (3.3) added, and (3.5) repealed, (HB 21-1316), ch. 325, p. 2034, � 48, effective July 1.
Cross references: For the legislative declaration contained in the 1995 act amending subsections (1) and (2), see section 112 of chapter 167, Session Laws of Colorado 1995.
24-82-702. Financed purchase of an asset or certificate of participation agreements. (1) If the director determines that the state will realize economic or other benefits by revising or replacing existing financed purchase of an asset or certificate of participation agreements, or by entering into additional financed purchase of an asset or certificate of participation agreements, or by combining all or any portion of existing or additional financed purchase of an asset or certificate of participation agreements authorized by appropriations made by the general assembly, the director may develop a master financing program and execute such agreements. Any additional financed purchase of an asset or certificate of participation agreement executed by the director pursuant to this part 7 may include personal property that is the subject of an existing financed purchase of an asset or certificate of participation agreement or personal property for which an appropriation has been made by the general assembly for the fiscal year commencing July 1, 1987, and any fiscal year thereafter. An additional financed purchase of an asset or certificate of participation agreement executed by the director pursuant to this part 7 may include real property only if the initial acquisition of such property by means of a financed purchase of an asset or certificate of participation agreement was specifically authorized by a separate bill enacted by the general assembly pursuant to section 24-82-801. For the purposes of this subsection (1), appropriations made by the general assembly do not include continuing appropriations made by permanent statute.
(2) Repealed.
Source: L. 87: Entire part added, p. 1117, � 1, effective June 20. L. 91: (1) amended, p. 800, � 1, effective July 1. L. 2000: (2) repealed, p. 1513, � 4, effective August 2. L. 2009: (1) amended, (HB 09-1218), ch. 132, p. 571, � 5, effective July 1. L. 2021: (1) amended, (HB 21-1316), ch. 325, p. 2034, � 49, effective July 1.