CO SB207

Authorizes the state treasurer to enter into an 18-year lease-purchase agreement to refinance the Colorado Bureau of Investigation's Grand Junction regional office and forensic laboratory, with a principal amount not exceeding $11,000,000 plus administrative and closing costs.

Refinancing the original 2006 revenue bonds ($12,665,000) through the state treasurer is projected to generate approximately $1,170,000 in present-value savings and reduce annual lease payments and interest rates.

Requires state controller approval of all refinancing agreements prior to closing and mandates that state obligations under the agreement remain subject to annual legislative appropriation.

Grants the state authority to receive fee title to the property on or prior to lease expiration and to reduce the lease term through prepayment, with title held for the benefit and use of the Colorado Bureau of Investigation.

Exempts the lease-purchase agreement from certain fiscal rules and constitutional debt limitations, declaring the obligations shall not constitute state indebtedness or a multiple fiscal-year financial obligation.