NOTE:  This bill has been prepared for the signature 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.
      
      
      HOUSE BILL 07-1049
      
      
      BY REPRESENTATIVE(S) Liston, Merrifield, Gardner B., Gibbs, Hicks,
      Hodge, King, Lambert, Levy, McFadyen, Mitchell V., Peniston, Solano,
      Soper, Stafford, Stephens, and Summers;
      also SENATOR(S) McElhany, Morse, and Spence.
      
      
      Concerning the authority for a fast-growing school district that
           has approval to contract for bonded indebtedness to issue
           debt during the third fiscal year in which the district
           experiences fast growth.
       
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  22-42-104 (1.3), Colorado Revised Statutes, is
      amended to read:
      
           22-42-104.  Limit of bonded indebtedness.  (1.3)  Notwithstanding
      the provisions of paragraph (a) of subsection (1) of this section, the limit on
      bonded indebtedness of a school district shall be the greater of the limit
      determined pursuant to paragraph (b) of subsection (1) of this section or
      twenty-five percent of the latest valuation for assessment of the taxable
      property in such district, as certified by the county assessor to the board of
      county commissioners, for any bonded indebtedness approved at any
      election held on or after July 1, 1994, if the commissioner of education or
      the commissioner's designee certifies that for each of the preceding three
      fiscal years, or for three consecutive fiscal years that include the
      fiscal year in which the certification is made, the pupil enrollment or
      the funded pupil count of the district as of October 1, whichever is
      applicable, has increased:
      
           (a)  By two and one-half percent or more over each the preceding
      year, if the district has a pupil enrollment or funded pupil count, whichever
      is applicable, of at least one thousand pupils;
      
           (b)  By twenty-five or more pupils each over the preceding year,
      if the district has a pupil enrollment or funded pupil count, whichever is
      applicable, of less than one thousand pupils.
      
           SECTION 2.  Safety clause.  The general assembly hereby finds,
      determines, and declares that this act is necessary for the immediate
      preservation of the public peace, health, and safety.
      
      
      
      
      ________________________________________________________
      Andrew Romanoff                      Joan Fitz-Gerald
      SPEAKER OF THE HOUSE                     PRESIDENT OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
      
      
      ____________________________  ____________________________
      Marilyn Eddins                          Karen Goldman
      CHIEF CLERK OF THE HOUSE                 SECRETARY OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    Bill Ritter, Jr.
                                    GOVERNOR OF THE STATE OF COLORADO