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A. Non-Substitution Clauses in Leases The following is an excerpt from “Common Questions about Tax-Exempt Leases” published online by Municipal Funding of Zephyrhills, Florida, available at http://municipal-funding.com/tax-exempt_leasing_faq.htm: A non-substitution clause is a provision in a 103 lease that prevents the government from non-appropriating and then acquiring equipment to perform the same function as the previously leased […] READ MORE
Electronic Signatures in Colorado: Colorado has enacted the Uniform Electronic Transactions Act in Article 71.3 of Title 24, Colorado Revised Statutes, as amended. The Act provides for the enforceability electronic signatures in certain instances. Sample Language: Sample contract language might be: (Electronic Signatures and Electronic Records) Party A consents to the use of electronic signatures […] READ MORE
Colorado Statutory Rules: For purposes of Article 1, Title 32 of the C.R.S.: “Net effective interest rate” = “Net interest cost” of the bonds / SUM[(principal amount of bonds maturing on maturity date 1 * number of years from their date to that maturity date) + (principal amount of bonds maturing on maturity date 2 […] READ MORE
Colorado: Bonds issued by the Colorado Health Facilities Authority (CoHFA) are exempt from registration requirements imposed by the Colorado Securities Act. See 25-25-118, C.R.S. See also 11-51-307, C.R.S. READ MORE
Filing Form DLG-32 Section 32-1-1604, C.R.S., requires a special district to file a notice of any authorization or incurrence of general obligation debt and a description of such debt in a form prescribed by the director of the division of local government in the department of local affairs with the county clerk and recorder in […] READ MORE
General It is unlawful for any district to issue bonds or for any other person to make a distribution of such bonds unless they are first registered with the securities commissioner under section 11-59-108, C.R.S. or unless the issuance of bonds is exempted under section 11-59-110, C.R.S. Claims for exemption must be filed at least […] READ MORE
Preliminary Assessed Valuations: Preliminary assessed valuations available by August 25 of each year. The valuations are certified by the county assessor to the State (Section 39-5-128 C.R.S.). The various state and county entities then calculate mill levies based on the preliminary valuations. Final Assessed Valuations: If changes occur to the assessed valuations between August 25 […] READ MORE
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