Bill Summary for Bill Number SB05-233

Final
BILL SUMMARY for SB05-233

HOUSE COMMITTEE ON BUSINESS AFFAIRS AND LABOR

Votes:

Action Taken:

Moved that SB05-233 be referred to the Committee o

PASS

02:28 PM -- Senate Bill 05-233

Representative McCluskey presented the bill which allows public entities, upon receiving voter approval for the issuance of proposed public securities, to enter into an interest rate exchange agreement (interest rate swap) to lock in an interest rate. Under current law, such entities are required to wait until a binding sale contract has been entered into, before they may enter into such an agreement.

02:28 PM -- Marla Lien, Acting General Counsel for RTD, testified in support of the bill. RTD's Fast Tracks project will benefit from this proposal.


BILL:	SB05-233
TIME:	02:30:57 PM
MOVED:	McCluskey
MOTION:	Moved that SB05-233 be referred to the Committee of the Whole with a favorable recommendation. The motion passed 7-0, with 6 excused.
SECONDED:	Paccione
		VOTE
	Balmer	Excused
	Borodkin	Excused
	Butcher	Yes
	Carroll M.	Excused
	Coleman	Yes
	Knoedler	Excused
	Liston	Excused
	Massey	Excused
	McCluskey	Yes
	Paccione	Yes
	White	Yes
	Cerbo	Yes
	Marshall	Yes
Final YES: 7 NO: 0 EXC: 6 ABS: 0 FINAL ACTION: PASS

02:31 PM

The committee adjourned.