(1) The board may authorize and issue revenue bonds to finance additional facilities for the board and the Colorado state fair and industrial exposition.
Such revenue bonds shall be authorized and issued only by resolution of the board,which resolution shall conform to the requirements of section 35-65-302. Such bonds may be issued only after approval by both houses of the general assembly either acting by bill or joint resolution and after approval by the governor in accordance with section 39 of article V of the state constitution.
All bonds issued pursuant to the terms of this part 3 shall provide that:
No holder of any such bond may compel the state or any subdivision thereof to exercise its appropriation or taxing power;
The bond does not constitute a debt of the state and is payable from the net revenuesfrom the operation of the additional facilities acquired or provided pursuant to this part 3 and from contributions by nonstate sources for such additional facilities.
Source: L. 75: Entire part added, p. 1353, § 1, effective July 14. L. 83: (1) and (2) amended, p. 1371, § 7, effective June 2. L. 89: (3)(b) amended, p. 1413, § 4, effective July 1. L. 97: (2) and (3)(b) amended, p. 817, § 7, effective June 30.