CO SB139

County commissioners are authorized to make loans to governmental entities created by or located within the county for public infrastructure projects, including transportation and recreational infrastructure construction, operation, maintenance, or repair.

Loan funds must come from legally available money not otherwise encumbered, with total outstanding principal of all such loans capped at 8 percent of available funds at the time each loan is made.

Loan recipients must pay interest at a rate equal to or greater than the county's average financial investment return for the preceding 12 months, with specified repayment terms established through an intergovernmental agreement.

County commissioners must approve each loan at a public meeting and require pursuit of private sector funding options before approving county loans; commissioners must adopt underwriting standards analyzing loan risks, market rates, and terms before making any loans.

Loans are excluded from county general fund expenditure limitations because they are required to be repaid; act takes effect August 5, 2020, unless subject to referendum petition filed within 90 days after adjournment.