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<br />Third Extraordinary Session <br />Sixty-third General Assembly <br />STATE OF COLORADO <br /> <br />INTRODUCED <br /> <br />LLS NO. 02S-2048.01 Jason Gelender <br />Dyer SENATE SPONSORSHIP <br /> <br />SENATE BILL 02S-014 <br /> <br />HOUSE SPONSORSHIP <br /> <br />(None) <br /> <br />Senate Committees <br />Public Policy and Planning <br />Appropriations <br /> <br />House Committees <br /> <br />A BILL FOR AN ACT <br />CONCERNING THE FINANCING OF WATER INFRASTRUCTURE PROJECTS BY THE STATE, AND, IN CONNECTION <br />THEREWITH, AUTHORIZING THE ISSUANCE OF VOTER-APPROVED REVENUE BONDS FOR THE PURPOSE OF <br />FINANCING SUCH PROJECTS AND EXCLUDING REVENUES DERIVED FROM BOND PROCEEDS AND PROJECTS <br />FINANCED BY BONDS FROM STATE FISCAL YEAR SPENDING. <br /> <br />Bill Summary <br />(Note: This summary applies to this bill as introduced and does not necessarily reflect any amendments <br />that may be subsequently adopted.) <br />Requires the submission of a ballot question to the registered electors of the state at the 2002 general <br />election seeking their approval to allow the Colorado water conservation board (board) to issue up to <br />$10,000,000,000 of water infrastructure revenue bonds (bonds) for the purpose of financing water infrastructure <br />projects that may be approved by the general assembly by bill in the future and to exclude revenues derived from <br />bond proceeds and projects financed by bonds from state fiscal year spending. If the voters of the state approve <br />the ballot question, authorizes the board to recommend, and the general assembly to approve by bill such projects <br />to be financed by a specified maximum amount of bonds. <br />Sets forth procedures and requirements for issuing bonds. Specifies that the principal and interest on <br />bonds shall be paid solely from: <br />. Revenues and receipts derived from the sale of water or power or the sale or lease of recreational <br />facilities or opportunities from a water infrastructure project whose construction, development, or improvement <br />was financed in whole or in part by bonds; <br />. Bond proceeds; and <br />. Earnings from the investment of bond proceeds. <br />Further specifies that holders of bonds may not look to any other revenues of the state for payment of the <br /> <br />bonds. <br /> <br />42 <br />