HOUSE BILL 25-1131
BY REPRESENTATIVE(S) Boesenecker and Johnson, Bacon, Barron,
Bird, Caldwell, Clifford, Duran, Froelich, Hamrick, Jackson, Joseph,
Lindstedt, Lukens, Martinez, McCormick, Richardson, Sirota, Stewart K.,
Valdez, Winter T., Zokaie, McCluskie;
also SENATOR(S) Kipp and Pelton B., Marchman, Bridges, Carson, Catlin,
Cutter, Frizell, Kirkmeyer, Liston, Michaelson Jenet, Pelton R., Roberts,
Winter F.
C
ONCERNING ELIMINATING CERTAIN CONDITIONS RELATED TO COLORADO
STATE UNIVERSITY
'S VETERINARY MEDICINE PROGRAM .
Be it enacted by the General Assembly of the State of Colorado:
SECTION 1. In Colorado Revised Statutes, amend 23-31-118 as
follows:
23-31-118. Advancement of money and pledge of income -
definition. (1) The board of governors of the Colorado state university
system, designated in this section as the "board", is authorized to enter into
contracts for the advancement of moneys
MONEY for the construction and
acquisition of facilities or equipment, or both, for the Colorado state
university veterinary medicine hospital, or any part thereof, and, in
NOTE: This bill has been prepared for the signatures of the appropriate legislative
officers and the Governor. To determine whether the Governor has signed the bill
or taken other action on it, please consult the legislative status sheet, the legislative
history, or the Session Laws.
________
Capital letters or bold & italic numbers indicate new material added to existing law; dashes
through words or numbers indicate deletions from existing law and such material is not part of
the act. connection with or as a part of such contracts, to pledge revenues from a
special hospital fee that the board shall collect pursuant to agreements
entered into with or with respect to each accountable student as security for
the repayment of the moneys
MONEY advanced, therefor, together with
interest. thereon. The maximum number of accountable students at any
given time shall not exceed three hundred eight; except that, should the total
enrollment in the professional veterinary medicine program exceed five
hundred forty-eight head-count students, additional accountable students
may not exceed forty-five percent of each admitted class. For purposes of
this section, an "accountable student" is a person who, as of the date of his
or her THEIR selection for admission into the professional veterinary
medicine program, is not receiving funding, either from the state of
Colorado or from a state that has entered into a cooperative agreement with
the state of Colorado pursuant to section 24-60-601, C.R.S.,
for all or any
portion of the costs incurred in participating in the professional veterinary
medicine program. An agreement shall be entered into with or with respect
AN ANNUAL FEE IS CHARGED to AND PAID BY each accountable student and
each such agreement shall provide that, as a condition to that student's
continued enrollment in the professional veterinary medicine program. there
shall be paid annually by or on behalf of the student the special hospital fee
provided for in this section, which fee shall be fixed by the board THE
BOARD SHALL FIX THE FEE
annually in an amount sufficient to meet the
obligation authorized by this section.
(2) The board,
IN ACCORDANCE WITH STATE LAW , shall annually
assess each cooperative state or accountable student a support fee to
reimburse Colorado for instructional costs. This support fee includes an
equipment and renovation fee of one thousand one dollars assessed to each
cooperative state or accountable student for acquisition or replacement of
equipment and for renovation. Colorado shall share proportionately in the
acquisition or replacement of equipment and renovation projects. The
amount to be paid by Colorado shall be
IS determined by the annual ratio of
Colorado students to accountable students based upon beginning enrollment
of each school year. The fee required to be collected pursuant to this
subsection (2) is based on a student's status as an "accountable student" at
the time of selection for admission into the professional veterinary medicine
program and shall not be reduced or waived regardless of the student's
status as an in-state student, pursuant to the provisions of section 23-7-103,
at any time during the student's participation in the professional veterinary
medicine program.
PAGE 2-HOUSE BILL 25-1131 (3) The board shall not pledge any income of the university except
that authorized in subsection (1) of this section and shall not create any
mortgage upon property belonging to such institution or obligate the state
of Colorado for the purpose of repaying or receiving any funds raised or
advanced under the provisions of this section.
(4) Any advancement of moneys, not to exceed two million five
hundred thousand dollars, may be evidenced by revenue bonds or
anticipation warrants to be executed by the board for and on behalf of
Colorado state university and containing such terms and provisions,
including provisions for adequate reserves and for redemption prior to
maturity and a maximum net effective interest rate, as may be determined
by the board. Such revenue bonds or anticipation warrants shall bear interest
at a rate such that the net effective interest rate of the issue of bonds or
anticipation warrants does not exceed the maximum net effective interest
rate fixed, which interest shall be payable semiannually or annually. Such
revenue bonds or warrants may be sold at less than par, but they may not be
sold at a price such that the net effective interest rate of the issue of bonds
or warrants exceeds the maximum net effective interest rate fixed. Any such
revenue bonds or warrants may be refunded pursuant to article 54 of title
11, C.R.S., if in the judgment of the board such refunding is to the best
interests of the university.
(5) If the sources of pledged revenues described in subsection (1) of
this section exceed the amount required for the amortization of any
advancement made pursuant to this section, and the payment of interest
thereof, together with reserve requirements, the board may apply such
surplus to the redemption of such securities prior to maturity of such
securities according to redemption provisions thereof, or such surplus may
be used by the board for the purposes of maintaining, repairing, altering, or
adding to any existing equipment or facilities acquired pursuant to the
provisions of this section for any lawful purpose.
(6) All obligations issued pursuant to this section and the income
therefrom shall be exempt from taxation, except inheritance, estate, and
transfer taxes.
(7) No action shall be brought questioning the legality of any
contract, proceedings, revenue bonds, or anticipation warrants issued or to
be issued by the board in connection with the provision of all or any part of
PAGE 3-HOUSE BILL 25-1131 the Colorado state university veterinary medicine hospital pursuant to this
section after the expiration of thirty days from the effective date of any
resolution or other official action authorizing such contract, adopting such
proceedings, or authorizing the issuance of such warrants or bonds.
SECTION 2. Act subject to petition - effective date. This act
takes effect at 12:01 a.m. on the day following the expiration of the
ninety-day period after final adjournment of the general assembly; except
that, if a referendum petition is filed pursuant to section 1 (3) of article V
of the state constitution against this act or an item, section, or part of this act
within such period, then the act, item, section, or part will not take effect
unless approved by the people at the general election to be held in
PAGE 4-HOUSE BILL 25-1131 November 2026 and, in such case, will take effect on the date of the official
declaration of the vote thereon by the governor.
____________________________ ____________________________
Julie McCluskie James Rashad Coleman, Sr.
SPEAKER OF THE HOUSE PRESIDENT OF
OF REPRESENTATIVES THE SENATE
____________________________ ____________________________
Vanessa Reilly Esther van Mourik
CHIEF CLERK OF THE HOUSE SECRETARY OF
OF REPRESENTATIVES THE SENATE
APPROVED________________________________________
(Date and Time)
_________________________________________
Jared S. Polis
GOVERNOR OF THE STATE OF COLORADO
PAGE 5-HOUSE BILL 25-1131