CO SB106

Repeals section 29-2-111 of Colorado Revised Statutes concerning local government pledging of sales or use tax revenues for revenue bonds related to capital improvements.

Clarifies that section 20 of article X of the state constitution (TABOR) applies when local governments seek to issue revenue bonds for financing capital improvements.

Amends section 29-2-112 to require voter approval pursuant to TABOR before counties, cities, or incorporated towns can issue revenue bonds payable from sales and use tax revenues for capital improvements.

Removes language stating revenue bonds may be authorized "without further election" and updates bond recitations to reference "sales and use tax revenues" instead of "special fund."

Takes effect August 8, 2018, subject to referendum petition provisions allowing voters to approve or reject the act at the November 2018 general election.