CO SB219

State Treasurer authorized to execute a lease-purchase agreement by June 30, 2021, for up to $65.5 million plus reasonable administrative, monitoring, closing costs, and interest to fund continuations of previously funded capital construction projects at higher education institutions.

Annual state-funded payments for principal and interest shall not exceed $5.5 million, with principal amortization beginning no earlier than July 1, 2022, and all payments subject to annual General Assembly appropriation.

Lease-purchase agreement must specify that state obligations do not create state debt under Colorado Constitution or law and that the state or governing board receives fee title to all real and personal property by agreement expiration.

State Treasurer may enter into interest rate exchange agreements under Article 59.3 of Title 11 to protect against future interest rate increases, with payments made solely from lease-purchase proceeds or available funds.

Capital Development Committee shall post list of specific projects funded and project costs on its website by August 15, 2020, and specify uses for any excess money resulting from the issuance.