Colorado Code
Article 5 - General Provisions
§ 23-5-119.5. Student Fees - Legislative Declaration - Definitions - Institutional Plans - Fee Information - Reporting

(B) If a governing board uses revenues from a general student fee for the repayment of bonds or other debt obligations issued or incurred pursuant to this paragraph (a), the governing board shall specify the portion of the general student fee that is actually applied to repayment of the bonds or other debt obligations. The itemization of any general student fee, all or a portion of which is used for repayment of bonds or other debt obligations, shall appear on the student billing statement.
(II) The issuing or incurring governing board may, subject to the restrictions specified in paragraph (c) of this subsection (5), pledge any excess revenue received from any user fee assessed pursuant to subparagraph (I) of this paragraph (a) or from any portion of a general student fee applied to the repayment of such bonds or other debt obligations pursuant to sub-subparagraph (B) of subparagraph (I) of this paragraph (a) to the repayment of any bonds or other debt obligations issued or incurred on behalf of any other auxiliary facility, so long as such pledge of excess revenue from any general student fee authorized for the repayment of bonds or other debt obligations issued or incurred to finance a specific facility shall terminate upon full repayment of all bonds or other debt obligations, including refunding bonds or obligations, and all fees and costs related to such bonds or other debt obligations incurred with respect to such specific facility.
(III) On and after the date upon which all bonds or other debt obligations issued, secured, or incurred pursuant to this paragraph (a) are fully repaid:




(A) Approval of the student body is not required for any fee assessed for repayment of said bonds or other debt obligations;
(B) Approval of the student body is not required to increase any fee that is applied to the repayment of said bonds or other debt obligations if the fee increase is necessitated by a covenant in the authorizing bond resolution or other agreement for which the bonds or other debt obligations were issued or incurred;
(C) Approval of the student body is not required to increase any fee that is applied to the repayment of said bonds or other debt obligations if the fee increase is assessed for the repayment of bonds that are issued to refund the existing bonds.
(II) The issuing or incurring governing board may, subject to the restrictions specified in paragraph (c) of this subsection (5), pledge any excess revenue received from the fee, whether it is a user fee or a portion of a general student fee applied to the repayment of such bonds or other debt obligations, to the repayment of any bonds or other debt obligations issued or incurred on behalf of any other auxiliary facility, so long as such pledge of excess revenue from any general student fee authorized for the repayment of bonds or other debt obligation issued or incurred to finance a specific facility shall terminate upon full repayment of all bonds or other debt obligations, including refunding bonds or obligations, and all fees and costs related to such bonds or other debt obligations incurred with respect to such specific facility.
(III) On and after the date upon which all bonds or other debt obligations issued, secured, or incurred pursuant to this paragraph (b) are fully repaid:
(A) The amount of the user fee, if any, assessed against persons using the auxiliary facility shall be reduced, if necessary, so as not to exceed one hundred ten percent of the costs incurred in operating and maintaining the auxiliary facility during the preceding year; except that the governing board may reduce the amount of the user fee to an amount not to exceed one hundred twenty percent of the costs incurred in operating and maintaining the auxiliary facility during the preceding year and set aside the additional ten percent in a reserve fund for repair and replacement of the auxiliary facility;
(B) The governing board shall cease collecting any portion of a general student fee assessed for the repayment of the bonds or other debt obligations; except that, if no user fee was assessed for the repayment of the bonds or other debt obligations or if the amount of the user fee is less than the costs incurred in operating and maintaining the auxiliary facility during the preceding year, the governing board may continue collecting the specified portion of the general student fee that was applied to repayment of the bonds or other debt obligations so long as said portion of the general student fee is reduced, if necessary, to an amount that, in combination with any user fee collected for the auxiliary facility, does not exceed one hundred ten percent of the costs incurred in operating and maintaining the auxiliary facility during the preceding year. Notwithstanding the provisions of this sub-subparagraph (B), the governing board may reduce said portion of the general student fee to an amount that, in combination with any user fee collected for the auxiliary facility, does not exceed one hundred twenty percent of the costs incurred in operating and maintaining the auxiliary facility during the preceding year and set aside the additional ten percent in a reserve fund for repair and replacement of the auxiliary facility.
(C) The revenues received pursuant to this subparagraph (III), either through a user fee or through a specified portion of a general student fee, may not be pledged for the repayment of any bonds or other debt obligations issued on behalf of any other auxiliary facility. Any amount of said revenue that exceeds both the amount necessary for the operation and maintenance of the auxiliary facility and any amount set aside in a reserve fund for repair and replacement of the auxiliary facility is surplus and may be used by the governing board as provided in section 23-5-103 (3).

(II) Subject to the provisions of paragraphs (a) and (b) of this subsection (5), a user fee that is assessed against persons using an auxiliary facility that is designated as an enterprise by the university of Colorado pursuant to section 23-5-101.5 may be pledged for the repayment of bonds or other debt obligations issued or incurred on behalf of another auxiliary facility that is designated as an enterprise by the university of Colorado, as provided in sections 23-5-102 and 23-5-103.
(III) A governing board may not pledge a user fee assessed against persons using an auxiliary facility that is not designated as an enterprise for repayment of bonds or other debt obligations issued or incurred on behalf of any auxiliary facility that is designated as an enterprise or on behalf of the institution with which the auxiliary facility is associated. Except as otherwise provided in subparagraph (II) of this paragraph (c), a governing board may not pledge a user fee assessed against persons using an auxiliary facility that is designated as an enterprise pursuant to section 23-5-101.5 for the repayment of bonds or other debt obligations issued or incurred on behalf of any other auxiliary facility, regardless of whether the other auxiliary facility is designated as an enterprise, or on behalf of the institution with which the auxiliary facility is associated.













Source: L. 2011: Entire section added, (HB 11-1301), ch. 297, p. 1411, § 2, effective August 10.

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