Every additional financed purchase of an asset or certificate of participation agreement authorized by the director pursuant to this part 7 shall provide that all payment obligations of the state under such additional financed purchase of an asset or certificate of participation agreement are subject to annual appropriation by the general assembly and that such obligations shall not be deemed or construed as creating an indebtedness of the state within the meaning of any provision of the Colorado constitution or the laws of the state of Colorado concerning or limiting the creation of indebtedness by the state of Colorado.
Source: L. 87: Entire part added, p. 1117, § 1, effective June 20. L. 2021: Entire section amended, (HB 21-1316), ch. 325, p. 2035, § 51, effective July 1.
Structure Colorado Code
§ 24-82-702. Financed Purchase of an Asset or Certificate of Participation Agreements
§ 24-82-704. Payment Obligations Subject to Annual Appropriation by the General Assembly
§ 24-82-706. Subsequent Payments
§ 24-82-707. Ancillary Agreements
§ 24-82-708. Fiscal Rules Inapplicable - Independent Powers
§ 24-82-709. Participation by Institutions of Postsecondary Education