(1) For the purposes of obtaining funds for constructing, otherwise acquiring, and equipping auxiliary facilities, as defined in section 23-5-101.5 (2)(a), for the use of students and employees at the center, the Auraria board is authorized, after approval by the Colorado commission on higher education and subsequent affirmative vote by the combined student bodies of the Auraria campus if student fees are to be used in financing such projects, to enter into contracts with any one or more persons or corporations or state or federal government agencies for the advancement of moneys for such purposes and to provide for the repayment of such advancements with interest at a specified net effective interest rate.
The Auraria board, by resolution, may issue revenue bonds on behalf of any auxiliaryfacility or group of auxiliary facilities managed by the Auraria board for the purpose of obtaining funds for constructing, otherwise acquiring, equipping, or operating such auxiliary facility or group of auxiliary facilities. Any bonds issued on behalf of any auxiliary facility or group of auxiliary facilities other than dining facilities, recreational facilities, health facilities, parking facilities, student center facilities, or research facilities which are funded from a revolving fund may be issued only after approval by both houses of the general assembly either by bill or by joint resolution and after approval by the governor in accordance with section 39 of article V of the state constitution. Bonds issued pursuant to this subsection (2) shall be payable only from revenues generated by the auxiliary facility or group of auxiliary facilities on behalf of which such bonds are issued. Such bonds shall be issued in accordance with the provisions of section 23-70-108 (2).
The Auraria board, by resolution, may issue revenue bonds secured by a pledge oflease payments or any other revenues derived from a complementary facility or group of complementary facilities for the purpose of raising moneys for constructing or otherwise acquiring and equipping any facility necessary or useful to the accomplishment of the mission of the Auraria board and the center. Bonds issued pursuant to this subsection (3) shall be payable only from revenues generated by the lease payments or by the complementary facility or group of complementary facilities that are subject to the pledge. The bonds shall be issued in accordance with the provisions of section 23-70-108 (2).
The Auraria board, by resolution, may issue revenue bonds secured by a pledge ofrental payments or other payments to be received from a constituent institution or constituent institutions. The Auraria board shall use the proceeds of said bonds to acquire, construct, or equip any physical plant, facility, building, or ground within the center for the use of one or more constituent institutions pursuant to section 23-70-104. Bonds issued pursuant to this subsection (4) shall be payable only from payments received by the Auraria board from the constituent institutions for the acquisition, construction, or equipping of the physical plant, facility, building, or ground for which the bonds are issued. The bonds shall be issued in accordance with the provisions of section 23-70-108 (2).
Source: L. 74: Entire article added, p. 393, § 1, effective May 13. L. 75: Entire section amended, p. 746, § 1, effective April 9. L. 93: Entire section amended, p. 1824, § 5, effective June 6. L. 2008: (3) and (4) added, p. 1080, § 5, effective May 22.