First Regular Session Sixty-eighth General Assembly STATE OF COLORADO INTRODUCED LLS NO. 11-0713.01 Jason Gelender SENATE BILL 11-095 SENATE SPONSORSHIP Grantham, Renfroe, Mitchell, Scheffel, Spence, Harvey, Lundberg, Cadman, Brophy, King S. HOUSE SPONSORSHIP Conti, Holbert, Joshi, Kerr J., Scott Senate Committees House Committees State, Veterans & Military Affairs A BILL FOR AN ACT Concerning surface transportation funding. Bill Summary (Note: This summary applies to this bill as introduced and does not reflect any amendments that may be subsequently adopted. If this bill passes third reading in the house of introduction, a bill summary that applies to the reengrossed version of this bill will be available at http://www.leg.state.co.us/billsummaries.) In order to have the substantive effect of repealing most of the statutory provisions enacted in Senate Bill 09-108: Section 1 of the bill repeals part 8 of article 4 of title 43, Colorado Revised Statutes, currently known as the "Funding Advancements for Surface Transportation and Economic Recovery Act of 2009" (FASTER), and reenacts that part in a manner that: Abolishes the high-performance transportation enterprise created by FASTER and reestablishes the statewide tolling enterprise that was abolished by FASTER; Eliminates the road safety surcharge, daily vehicle rental fee, supplemental oversize and overweight vehicle surcharge, and supplemental unregistered vehicle fine created by, and the late vehicle registration fee and all other previously existing fees and fines increased by, FASTER; Eliminates FASTER funding for the state transit and rail division of the department of transportation; and Reestablishes the statewide bridge enterprise created by FASTER, authorizes the enterprise to impose a bridge safety surcharge and issue bonds for the purpose of financing the completion of designated bridge projects, and otherwise specifies the powers and duties of the enterprise without making substantive changes from FASTER. Sections 2 to 18 of the bill undo amendments made to then-existing law by Senate Bill 09-108 and make conforming amendments. Be it enacted by the General Assembly of the State of Colorado: SECTION 1. Part 8 of article 4 of title 43, Colorado Revised Statutes, is REPEALED AND REENACTED, WITH AMENDMENTS, to read: PART 8 STATEWIDE TOLLING AND BRIDGE ENTERPRISES 43-4-801. Legislative declaration. (1) The general assembly hereby finds and declares that: (a) In order to finance, construct, operate, and maintain additional highway capacity and accommodate the needs of the traveling public through and within the state of Colorado through safe, efficient, convenient, and modern vehicular traffic, it is necessary and in the public interest to provide for the financing, construction, operation, regulation, and maintenance of a statewide system of toll highways that are interoperable, that incorporate the benefits of advanced engineering design, experience, and safety, and that will reduce traffic congestion, delays, hazards, injuries, and fatalities; and (b) It is necessary to authorize the transportation commission to create, under the supervision of the transportation commission, a statewide tolling enterprise that has the power to impose tolls, issue revenue bonds, and exercise other powers necessary and appropriate to carry out these purposes. (2) The general assembly further finds and declares that: (a) There is an urgent present need to repair and replace structurally deficient and functionally obsolete bridges in the state; (b) Increasing funding for designated bridge projects through the imposition of a bridge safety surcharge imposed at rates reasonably calculated based on the benefits received by the persons paying the fees will provide funding to complete the projects; and (c) The creation of a statewide bridge enterprise authorized to complete designated bridge projects, impose a bridge safety surcharge and issue revenue bonds, and, if required approvals are obtained, to contract with the state to receive one or more loans of moneys received by the state under the terms of one or more lease-purchase agreements authorized by this part 8 and to use the revenues generated by the bridge safety surcharge to repay any such loan or loans, will improve the safety and efficiency of the state transportation system by allowing the state to accelerate the repair, reconstruction, and replacement of structurally deficient, functionally obsolete, and rated-as-poor bridges. 43-4-802. Definitions. As used in this part 8, unless the context otherwise requires: (1) "Authorized agent" shall have the same meaning as set forth in section 42-1-102 (5), C.R.S. (2) "Bond" means any bond, note, interim certificate, contract, or other evidence of indebtedness of the enterprise, including, but not limited to, any obligation to the United States in connection with a loan from or guaranteed by the United States. (3) "Bond obligations" means the debt service on, and related costs and obligations in connection with, bonds, including, without limitation: (a) Payments with respect to principal, interest, prepayment premiums, reserve funds, surplus funds, sinking funds, and costs of issuance; (b) Payments related to any credit enhancement, liquidity support, or interest rate protection for bonds; (c) Fees and expenses of any trustee, bond registrar, paying agent, authenticating agent, rebate analyst or consultant, calculation agent, remarketing agent, or credit enhancement, liquidity support, or interest rate protection provider; (d) Coverage requirements; and (e) Other costs, fees, and expenses related to paragraphs (a) to (d) of this subsection (3) and any other amounts required to be paid pursuant to the provisions of any documents authorizing the issuance of the bonds. (4) "Bridge enterprise" means the statewide bridge enterprise created in section 43-4-808 (2). (5) "Bridge enterprise board" means the board of directors of the bridge enterprise. (6) "Bridge enterprise director" means the director of the bridge enterprise appointed pursuant to section 43-4-808 (2) (a) (I). (7) "Bridge special fund" means the statewide bridge enterprise special revenue fund created in section 43-4-808 (3) (a). (8) "Commission" means the transportation commission created in section 43-1-106. (9) "Construct" or "construction" means the planning, designing, engineering, acquisition, installation, construction, or reconstruction of a toll highway. (10) "Department" means the department of transportation created in section 24-1-128.7, C.R.S. (11) "Designated bridge" means every bridge, including any roadways, sidewalks, or other infrastructure connected or adjacent to or required for the optimal functioning of the bridge, that: (a) Is part of the state highway system, as described in section 43-2-101; and (b) Has been identified by the department as structurally deficient or functionally obsolete, and has been rated by the department as poor, as of January 1, 2009, or is subsequently so identified and rated by the department. (12) "Designated bridge project" means a project that involves the repair, reconstruction, replacement, or ongoing operation or maintenance, or any combination thereof, of a designated bridge by the bridge enterprise pursuant to an agreement between the enterprise and the commission or department authorized by section 43-4-808 (5) (f). (13) "Environmental impact statement or environmental assessment" means an environmental impact statement or environmental assessment required to be performed under the federal "National Environmental Policy Act of 1969", 42 U.S.C. sec. 4321 et seq. (14) "Executive director" means the executive director of the department. (15) (a) "Grant" means any direct cash subsidy or other direct contribution of money from the state or any local government in the state to the bridge enterprise or the tolling enterprise that is not required to be repaid. (b) "Grant" does not include any of the following or any interest or income derived from the deposit and investment of the following: (I) Any indirect benefit conferred upon the bridge enterprise or the tolling enterprise from the state or any local government in the state; (II) Any federal moneys received by the bridge enterprise or the tolling enterprise, regardless of whether the federal moneys pass through the state or any local government in the state prior to receipt by the enterprise; (III) Any revenues of the bridge enterprise from the bridge safety surcharge imposed by the enterprise pursuant to section 43-4-808 (5) (g) or revenues of the bridge enterprise or the tolling enterprise from any other authorized rate, fee, assessment, or other charge imposed by either enterprise for the provision of goods or services by the enterprise; (IV) Any moneys paid or advanced to the bridge enterprise by the state, a local government or group of local governments, an authority, or any other government-owned business or governmental entity in exchange for an agreement by the bridge enterprise to complete a designated bridge project; or (V) Any moneys loaned by the commission to the bridge enterprise pursuant to section 43-4-808 (4) or (5) (r). (16) "Local government" means a municipality, county, or city and county. (17) "Metropolitan planning organization" means a metropolitan planning organization under the "Federal Transit Act", 49 U.S.C. sec. 5301 et seq. (18) "Public transportation vehicle" means a motor vehicle that is part of vehicular service that transports the general public and that is provided by a public transportation district or by a local government. (19) "Regional planning commission" means a regional planning commission formed under the provisions of section 30-28-105, C.R.S., that prepares and submits a transportation plan pursuant to section 43-1-1103. (20) "Toll" means the compensation to be paid to the tolling enterprise for the privilege of using any toll highway, or any part thereof, by vehicular or other traffic. (21) "Toll highway" means a new highway or additional lane capacity and related highway improvements and services. A toll highway may, as the tolling enterprise board determines, consist of improvements and services, including but not limited to paving, grading, landscaping, curbs, gutters, culverts, sidewalks, bikeways, lighting, bridges, overpasses, underpasses, rail crossings, frontage roads, access roads, interchanges, drainage facilities, mass transit lanes and services, park-and-ride facilities, other multimodal improvements and services, toll collection facilities, service areas, administrative or maintenance facilities, gas, electric, water, sewer, and other utilities located or to be located in the right-of-way for a toll highway, and other real or personal property, including easements, rights-of-way, open space, and other interests therein, relating to the financing, construction, operation, or maintenance of a toll highway. A toll highway may not eliminate previously existing highway lanes that have served vehicular traffic on a toll-free basis except pursuant to section 42-4-1012, C.R.S. (22) "Toll highway corridor" means the geographic area that was included as a part of a single final environmental impact statement or environmental assessment relating to a single project. (23) "Toll highway system" means the geographic area designated by the tolling enterprise that includes one or more toll highways within which toll revenues from any of the toll highways may be used. If there is more than one toll highway within a toll highway system, all toll highways shall be directly connected or within five miles of another toll highway within the system. A toll highway system shall not include more than one metropolitan planning organization or regional planning commission within its boundaries, unless all of the metropolitan planning organizations or regional planning commissions agree to be part of the system. (24) "Toll revenues" means the revenues generated by a toll highway constructed, operated, or maintained pursuant to this part 8. (25) "Tolling enterprise" means the statewide tolling enterprise created by the commission pursuant to section 43-4-803 (1). (26) "Tolling enterprise board" means the board of directors of the tolling enterprise. (27) "Tolling enterprise director" means the director of the tolling enterprise appointed pursuant to section 43-4-803 (1). (28) "Tolling special fund" means the statewide tolling enterprise special revenue fund created in section 43-4-804. (29) "Vehicle" means a motor vehicle as defined in section 42-1-102 (58), C.R.S.; except that, for purposes of any bridge safety surcharge imposed pursuant to this part 8 in connection with a vehicle required to be registered pursuant to the provisions of article 3 of title 42, C.R.S., "vehicle" also includes any vehicle without motive power that is required to be registered. 43-4-803. Statewide tolling enterprise - creation by commission - enterprise status - transfer. (1) The commission shall create and operate a statewide tolling enterprise, which shall operate as a government-owned business within the department and shall be a division of the department. The commission shall serve as the board of the tolling enterprise, but shall, with the consent of the executive director, appoint a director of the enterprise who shall possess qualifications as may be established by the commission and the state personnel board. The director shall oversee the discharge of all responsibilities of the tolling enterprise and shall serve at the pleasure of the board. (2) (a) The tolling enterprise shall constitute an enterprise for purposes of section 20 of article X of the state constitution so long as the tolling enterprise retains the authority to issue revenue bonds and receives less than ten percent of its total annual revenues in grants from all Colorado state and local governments combined. So long as it constitutes an enterprise pursuant to this subsection (2), the tolling enterprise shall not be subject to any provisions of section 20 of article X of the state constitution. (b) For purposes of part 2 of article 72 of title 24, C.R.S., the records of the tolling enterprise shall be public records, as defined in section 24-72-202 (6), C.R.S., regardless of whether the tolling enterprise receives less than ten percent of its total annual revenues in grants from all Colorado state and local governments combined. (3) (a) The tolling enterprise and the tolling enterprise director shall exercise the powers and perform the duties specified in this part 8 under the department as if the same were transferred to the department by a type 1 transfer, as such transfer is defined in section 24-1-105, C.R.S. (b) The high-performance transportation tolling enterprise, created in section 43-4-806 (1), prior to the repeal and reenactment of said section by Senate Bill 11-_____, enacted in 2011, and its powers, duties, and functions are transferred by a type 3 transfer, as defined in section 24-1-105, C.R.S., to the tolling enterprise, and the high-performance transportation enterprise is abolished. (4) The tolling enterprise shall constitute a public entity for purposes of part 2 of article 57 of title 11, C.R.S. 43-4-804. Statewide tolling enterprise special revenue fund - creation - separate toll highway system accounts. (1) The statewide tolling enterprise special revenue fund is hereby created in the state treasury. All toll revenues received by the tolling enterprise shall be deposited into the tolling special fund, and there shall be a separate account within the tolling special fund for each toll highway system, which shall consist of all toll revenues collected from each toll highway within the toll highway system. The tolling enterprise also may deposit or permit others to deposit other moneys into the tolling special fund, but in no event may revenues from any tax otherwise available for general purposes be deposited into the tolling special fund. The state treasurer, after consulting with the tolling enterprise board, shall invest any moneys in the tolling special fund, including any surplus or reserves, but excluding any proceeds from the sale of bonds or earnings on such proceeds invested pursuant to section 43-4-809, that are not needed for immediate use. Such moneys may be invested in the types of investments authorized in sections 24-36-109, 24-36-112, and 24-36-113, C.R.S. (2) All interest and income derived from the deposit and investment of moneys in the tolling special fund shall be credited to the tolling special fund and, if applicable, to the appropriate toll highway system account. Moneys in the tolling special fund shall be continuously appropriated to the enterprise for the purposes set forth in this part 8. All moneys deposited in the tolling special fund shall remain in the tolling special fund for the purposes set forth in this part 8 and no moneys in the tolling special fund shall be used for any other purposes. (3) The tolling enterprise shall prepare an annual accounting of the toll revenues collected within each toll highway corridor. (4) The tolling enterprise may expend moneys in the tolling special fund to pay bonds of the tolling enterprise, to fund the administration, planning, financing, construction, operation, maintenance, or repair of a toll highway, and for the acquisition of land within a toll highway corridor. The tolling enterprise may also expend moneys in the tolling special fund to pay the costs and expenses of operating the tolling enterprise. The tolling enterprise board shall have exclusive authority to budget and approve the expenditure of moneys in the tolling special fund. (5) Notwithstanding any other provision of this section, toll revenues shall be expended only for purposes authorized by subsection (4) of this section and only in the toll highway system in which they were collected; except that the tolling enterprise board may use toll revenues to pay a proportional share of the costs and expenses of operating the tolling enterprise. Once the tolling enterprise has paid the costs of constructing the toll highways located within the system, including sufficient contingencies, paid all debt service on all bonds issued to finance the toll highways, and reimbursed the state highway fund for the amount of any state highway fund moneys transferred to the statewide tolling enterprise operating fund plus interest in accordance with section 43-4-805, the tolling enterprise board shall adjust toll rates in each toll highway corridor so that the amount of toll revenues to be generated is as close as possible to the amount required for the ongoing operation, maintenance, renewal, and replacement of the toll highway within the toll highway corridor. A toll highway may not eliminate previously existing highway lanes that have served vehicular traffic on a toll-free basis except pursuant to section 42-4-1012, C.R.S. 43-4-805. Statewide tolling enterprise operating fund. The commission may transfer moneys from the state highway fund created in section 43-1-219 to the tolling enterprise for the purpose of defraying expenses incurred by the tolling enterprise prior to the receipt of bond proceeds or revenues by the tolling enterprise. The tolling enterprise may accept and expend any moneys so transferred, and, notwithstanding any state fiscal rule or generally accepted accounting principle that could otherwise be interpreted to require a contrary conclusion, such a transfer shall constitute a loan from the commission to the tolling enterprise and shall not be considered a grant for purposes of section 20 (2) (d) of article X of the state constitution. As the tolling enterprise receives sufficient revenues in excess of expenses, the tolling enterprise shall reimburse the state highway fund for the principal amount of any loan from the state highway fund made by the commission plus interest at a rate set by the commission. Any moneys loaned from the state highway fund to the tolling enterprise pursuant to this section shall be deposited into a fund to be known as the statewide tolling enterprise operating fund, which fund is hereby created, and shall not be deposited into the tolling special fund. Moneys from the tolling special fund may, however, be used to reimburse the state highway fund for the amount of any loan from the state highway fund or any interest thereon. 43-4-806. Toll highway construction review. (1) The tolling enterprise board shall take no action relating to the construction of a toll highway until after the toll highway system that includes the toll highway has been reviewed by every metropolitan planning organization or regional planning commission that is located in whole or in part within the toll highway system. The tolling enterprise board shall develop a plan for the construction of a toll highway that addresses the operation of the toll highway, the technology to be utilized, the project feasibility, the project financing, and any other federally required information. Each toll highway plan in a toll highway system shall be separately approved by each metropolitan planning organization or regional planning commission that is located in whole or in part within the toll highway system. (2) Upon request of a local government located in whole or in part within the toll highway system, the tolling enterprise board shall consult with representatives from the local government and shall consider mitigation of demonstrable negative impacts on the local government that would result from the construction, operation, or financing of the toll highway or toll highway system. Nothing in this subsection (2) is intended or shall be construed to affect or diminish the authority of any local government granted by any other law of this state. 43-4-807. Powers and duties of the tolling enterprise board - annual report - definitions. (1) The tolling enterprise board has the following powers and duties: (a) To advise the tolling enterprise director; (b) To adopt bylaws for the regulation of its affairs and conduct of its business; (c) To issue revenue bonds, payable solely from the tolling special fund, for the purposes of paying the cost of financing, constructing, operating, or maintaining a toll highway; (d) To establish and, from time to time, increase or decrease fees, tolls, rates, and charges for the privilege of traveling on or for the use of the property of a toll highway; except that no fee, toll, rate, or charge shall be charged to a public transportation vehicle. If a toll highway replaces any part of an existing high occupancy vehicle lane, the tolling enterprise board shall not charge a fee, toll, rate, or charge to a high occupancy vehicle for the privilege of traveling on or the use of the property of the toll highway. In establishing a fee, toll, rate, or charge for a toll highway, the tolling enterprise board shall consider the economic feasibility of reducing or eliminating the fee, toll, rate, or charge for a high occupancy vehicle, and, if feasible, the tolling enterprise board shall reduce or eliminate the fee, toll, rate, or charge accordingly. (e) To establish, charge, and collect fees and charges for the use of other property of the tolling enterprise; (f) To acquire, hold title to, and dispose of real and personal property as necessary in the exercise of its powers and performance of its duties; (g) To acquire by purchase, gift, grant, or by condemnation, as provided in article 1 of title 38, C.R.S., any and all rights-of-way, lands, buildings, moneys, or grounds necessary or convenient for its authorized purposes; (h) To make and enter into contracts or agreements with a private entity to facilitate a public-private initiative pursuant to sections 43-1-1203 and 43-1-1204, including, but not limited to: (I) An agreement pursuant to which the private entity is authorized to establish, increase, or decrease and to charge and collect tolls, rates, and charges for the privilege of traveling on any toll project, subject to the supervision and approval of the tolling enterprise under the terms of any such agreement, but otherwise without any supervision or approval by any other board, agency, bureau, commission, or official of the state; (II) An agreement pursuant to which the tolling enterprise or the tolling enterprise on behalf of the department operates, maintains, or provides toll enforcement services or other services or property in connection with a toll project; (III) An agreement pursuant to which a private entity operates all or any portion of a toll project on behalf of the tolling enterprise; and (IV) An agreement pursuant to which the tolling enterprise or the tolling enterprise on behalf of the department operates, maintains, or provides law enforcement services, toll enforcement services, or other services or property in connection with a toll project; (i) To make and to enter into all other contracts or agreements, including intergovernmental agreements pursuant to section 29-1-203, C.R.S., that are necessary or incidental to the exercise of its powers and performance of its duties; (j) To employ or contract for the services of consulting engineers or other experts as are necessary in its judgment to carry out its powers and duties; (k) To prepare, or cause to be prepared, detailed plans, specifications, or estimates for the financing, construction, relocation, repair, maintenance, or operation of a toll highway within the state. A toll highway may not eliminate previously existing highway lanes that have served vehicular traffic on a toll-free basis except pursuant to section 42-4-1012, C.R.S. (l) To acquire, construct, relocate, operate, regulate, and maintain a toll highway through and within the state; (m) To construct, maintain, and operate stations for the collection of tolls along a toll highway; (n) To set and adopt, on an annual basis, a budget for the tolling enterprise; (o) To purchase, trade, exchange, acquire, buy, sell, lease, lease with an option to purchase, dispose of, or encumber real or personal property or any interest therein, including easements and rights-of-way, without restriction or limitation; (p) To enter into interest rate exchange agreements for bonds that have been issued in accordance with article 59.3 of title 11, C.R.S.; (q) Pursuant to section 24-1-107.5, C.R.S., to establish, create, and approve nonprofit entities and bonds issued by or on behalf of such nonprofit entities for the purpose of financing, constructing, operating, or maintaining a toll highway, to accept the assets of any such nonprofit entity, to obtain an option to acquire the assets of any such nonprofit entity by paying such bonds, to appoint or approve the appointment of members of the governing board of any such nonprofit entity, and to remove the members of the governing board of any such nonprofit entity for cause; (r) To transfer money, property, or other assets of the tolling enterprise to the department; and (s) To have and exercise all rights and powers necessary or incidental to or implied from the specific powers and duties granted in this section. (2) (a) In addition to the powers and duties specified in subsection (1) of this section, the tolling enterprise board has the duty to evaluate any toll highway in the state that is owned and offered for sale or for lease and an operating concession by an entity other than the state in order to determine whether it is in the best interests of the state for the tolling enterprise to purchase or lease the toll highway or a partial interest in the toll highway that is being offered for sale, lease, or concession or enter into a public-private initiative pursuant to part 12 of article 1 of this title in connection with the toll highway. In evaluating a toll highway, the tolling enterprise board shall consider the financial costs and benefits to the state and users of the toll highway of purchasing or leasing the toll highway or a partial interest in the toll highway or entering into a public-private initiative in connection with the toll highway, the effect of such a purchase, lease, or public-private initiative on statewide, regional, or local transportation plans previously adopted and on future transportation planning, and any other factors deemed significant by the tolling enterprise board. In considering the effect on regional or local transportation plans, the tolling enterprise board shall consult with the appropriate regional or local transportation planning agency. Subject to criteria, procedures, processes, and rules established by the entity other than the state offering the toll highway for sale or for lease and an operating concession including, without limitation, provisions for rejecting all bids or proposals and short-listing bidders and proposers, and without any special consideration for either public or private sector interests that may bid on or propose to purchase or lease a toll highway, the tolling enterprise board may bid on or propose to purchase or lease a toll highway or a partial interest in a toll highway so offered without change or delay of such criteria, procedures, processes, and rules or may enter into a public-private initiative in connection with a toll highway and may finance all or a portion of the purchase or lease of a toll highway or a public-private initiative entered into in connection with a toll highway by issuing bonds as authorized by section 43-4-809 if the tolling enterprise board determines that the purchase, lease, or public-private initiative is in the best interests of the state. Funding to perform a toll highway evaluation shall be provided by the department and managed by the board. An entity other than the state shall consider and represent the interests of its constituency at all times during and after the evaluation process conducted by the tolling enterprise board pursuant to this subsection (2). (b) For purposes of this subsection (2), "entity other than the state" means a public highway authority created pursuant to section 43-4-504, a regional transportation authority created pursuant to section 43-4-603, a toll road or toll highway company formed pursuant to section 7-45-101, C.R.S., or any other natural person or entity other than the state or a department or agency of the state that may own a toll highway. (3) The tolling enterprise board shall ensure unrestricted access by all vehicles to any toll highway and shall not require that a particular class of vehicles travel upon any toll highway, including a toll highway that provides additional capacity on an existing highway. A toll highway may not eliminate previously existing highway lanes that have served vehicular traffic on a toll-free basis except pursuant to section 42-4-1012, C.R.S. (4) No later than February 15, 2012, and no later than February 15 of each year thereafter, the tolling enterprise shall present a report to the committees of the house of representatives and the senate that have jurisdiction over transportation. The report shall include a summary of the tolling enterprise's activities for the previous year, a statement of current toll rates and any expected changes, a summary of the status of any current toll projects, a statement of the tolling enterprise's revenues and expenses, a summary of the results of any evaluation of a toll highway conducted by the tolling enterprise pursuant to subsection (2) of this section, and any recommendations for statutory changes that the tolling enterprise deems necessary or desirable. The committees shall review the report and may recommend legislation. The report shall be public and shall be available on the web site of the department on or before January 15 of the year in which the report is presented. 43-4-808. Statewide bridge enterprise - creation - board - funds - powers and duties - reporting requirements - legislative declaration. (1) The general assembly hereby finds and declares that: (a) The completion of designated bridge projects is essential to address increasing traffic congestion and delays, hazards, injuries, and fatalities; (b) Due to the limited availability of state and federal funding and the need to accomplish the financing, repair, reconstruction, and replacement of designated bridges as promptly and efficiently as possible, it is necessary to create a statewide bridge enterprise and to authorize the enterprise to: (I) Enter into agreements with the commission or the department to finance, repair, reconstruct, and replace designated bridges in the state; and (II) Impose a bridge safety surcharge at rates reasonably calculated to defray the costs of completing designated bridge projects and distribute the burden of defraying the costs in a manner based on the benefits received by persons paying the fees and using designated bridges, receive and expend revenues generated by the surcharge and other moneys, issue revenue bonds and other obligations, contract with the state, if required approvals are obtained, to receive one or more loans of moneys received by the state under the terms of one or more lease-purchase agreements authorized by this part 8, expend revenues generated by the surcharge to repay any such loan or loans received, and exercise other powers necessary and appropriate to carry out its purposes; and (c) The creation of a statewide bridge enterprise is in the public interest and will promote the health, safety, and welfare of all Coloradans and visitors to the state by providing bridges that incorporate the benefits of advanced engineering design, experience, and safety. (2) (a) (I) The statewide bridge enterprise is hereby created. The bridge enterprise shall be and shall operate as a government-owned business within the department. The commission shall serve as the bridge enterprise board and shall, with the consent of the executive director, appoint a bridge enterprise director who shall possess such qualifications as may be established by the commission and the state personnel board. The bridge enterprise director shall oversee the discharge of all responsibilities of the bridge enterprise and shall serve at the pleasure of the bridge enterprise board. (II) (A) The bridge enterprise and the bridge enterprise director shall exercise their powers and perform their duties as if the same were transferred to the department by a type 1 transfer, as defined in section 24-1-105, C.R.S. (B) The statewide bridge enterprise, created in section 43-4-808 (2) (a) (I), prior to the repeal and reenactment of said section by Senate Bill 11-_____, enacted in 2011, and its powers, duties, and functions are transferred by a type 3 transfer, as defined in section 24-1-105, C.R.S., to the bridge enterprise, and the statewide bridge enterprise is abolished. (b) The business purpose of the bridge enterprise is to finance, repair, reconstruct, and replace any designated bridge in the state and, as agreed upon by the enterprise and the commission, or the department to the extent authorized by the commission, to maintain the bridges it finances, repairs, reconstructs, and replaces. To allow the bridge enterprise to accomplish this purpose and fully exercise its powers and duties through the bridge enterprise board, the bridge enterprise may: (I) Impose a bridge safety surcharge as authorized in paragraph (g) of subsection (5) of this section; (II) Issue revenue bonds payable from the revenues and other available moneys of the bridge enterprise pledged for their payment as authorized in section 43-4-809; and (III) Contract with any other governmental or nongovernmental source of funding for loans or grants, including, but not limited to, one or more loans from the state of moneys received by the state pursuant to the terms of one or more lease-purchase agreements authorized pursuant to paragraph (r) of subsection (5) of this section, to be used to support bridge enterprise functions. (c) The bridge enterprise shall constitute an enterprise for purposes of section 20 of article X of the state constitution so long as it retains the authority to issue revenue bonds and receives less than ten percent of its total revenues in grants from all Colorado state and local governments combined. So long as it constitutes an enterprise pursuant to this paragraph (c), the bridge enterprise shall not be subject to any provisions of section 20 of article X of the state constitution. Consistent with the determination of the Colorado supreme court in Nicholl v. E-470 Public Highway Authority, 896 P.2d 859 (Colo. 1995), that the power to impose taxes is inconsistent with "enterprise" status under section 20 of article X of the state constitution, the general assembly finds and declares that a bridge safety surcharge imposed by the bridge enterprise pursuant to paragraph (g) of subsection (5) of this section is not a tax but is instead a fee imposed by the bridge enterprise to defray the cost of completing designated bridge projects that the enterprise provides as a specific service to the persons upon whom the fee is imposed and at rates reasonably calculated based on the benefits received by such persons. (3) (a) The statewide bridge enterprise special revenue fund is hereby created in the state treasury. All revenues received by the bridge enterprise, including, but not limited to, any revenues from a bridge safety surcharge collected pursuant to paragraph (g) of subsection (5) of this section and any moneys loaned to the enterprise by the state pursuant to paragraph (r) of subsection (5) of this section, shall be deposited into the bridge special fund. The bridge enterprise board may establish separate accounts within the bridge special fund as needed in connection with any specific designated bridge project. The bridge enterprise may also deposit or permit others to deposit other moneys into the bridge special fund, but in no event may revenues from any tax otherwise available for general purposes be deposited into the bridge special fund. The state treasurer, after consulting with the bridge enterprise board, shall invest any moneys in the bridge special fund, including any surplus or reserves, but excluding any proceeds from the sale of bonds or earnings on such proceeds invested pursuant to section 43-4-809 (2), that are not needed for immediate use. Such moneys may be invested in the types of investments authorized in sections 24-36-109, 24-36-112, and 24-36-113, C.R.S. (b) All interest and income derived from the deposit and investment of moneys in the bridge special fund shall be credited to the bridge special fund and, if applicable, to the appropriate designated bridge project account. Moneys in the bridge special fund shall be continuously appropriated to the bridge enterprise for the purposes set forth in this part 8. All moneys deposited in the bridge special fund shall remain in the bridge special fund for the purposes set forth in this part 8, and no part of the bridge special fund shall be used for any other purpose. (c) The bridge enterprise may expend moneys in the bridge special fund to pay bond or loan obligations, to fund the administration, planning, financing, repair, reconstruction, replacement, or maintenance of designated bridges, and for the acquisition of land to the extent required in connection with any designated bridge project. The bridge enterprise may also expend moneys in the bridge special fund to pay its operating costs and expenses. The bridge enterprise board shall have exclusive authority to budget and approve the expenditure of moneys in the bridge special fund. (4) The commission may transfer moneys from the state highway fund created in section 43-1-219 to the bridge enterprise for the purpose of defraying expenses incurred by the bridge enterprise prior to the receipt of bond proceeds or revenues by the bridge enterprise. The bridge enterprise may accept and expend any moneys so transferred, and, notwithstanding any state fiscal rule or generally accepted accounting principle that could otherwise be interpreted to require a contrary conclusion, such a transfer shall constitute a loan from the commission to the bridge enterprise and shall not be considered a grant for purposes of section 20 (2) (d) of article X of the state constitution. As the bridge enterprise receives sufficient revenues in excess of expenses, the bridge enterprise shall reimburse the state highway fund for the principal amount of any loan from the state highway fund made by the commission plus interest at a rate set by the commission. Any moneys loaned from the state highway fund to the bridge enterprise pursuant to this section shall be deposited into a fund to be known as the statewide bridge enterprise operating fund, which fund is hereby created, and shall not be deposited into the bridge special fund. Moneys from the bridge special fund may, however, be used to reimburse the state highway fund for the amount of any loan from the state highway fund or any interest thereon. (5) In addition to any other powers and duties specified in this section, the bridge enterprise board has the following powers and duties: (a) To supervise and advise the bridge enterprise director; (b) To adopt bylaws for the regulation of its affairs and the conduct of its business; (c) To issue revenue bonds, payable solely from the bridge special fund, for the purpose of paying the cost of financing, repairing, reconstructing, replacing, and maintaining designated bridges; (d) To acquire, hold title to, and dispose of real and personal property as necessary in the exercise of its powers and performance of its duties; (e) To acquire, by purchase, gift, or grant, or, subject to the requirements of articles 1 to 7 of title 38, C.R.S., by condemnation, any and all rights-of-way, lands, buildings, moneys, or grounds necessary or convenient for its authorized purposes; (f) To enter into agreements with the commission, or the department to the extent authorized by the commission, under which the bridge enterprise agrees to finance, repair, reconstruct, replace, and, if any given agreement so specifies, maintain designated bridges as specified in the agreements; (g) (I) As necessary for the achievement of its business purpose, to impose a bridge safety surcharge, which, except as otherwise provided in subparagraph (V) of this paragraph (g), shall be imposed, on and after July 1, 2011, for any registration period that commences on or after July 1, 2011, or on and after such later date as may be determined by the bridge enterprise, for any registration period that commences on or after the later date, upon the registration of any vehicle for which a registration fee must be paid pursuant to the provisions of part 3 of article 3 of title 42, C.R.S. Except as otherwise provided in subparagraphs (III) and (IV) of this paragraph (g), the amount of the surcharge shall not exceed: (A) Thirteen dollars for any vehicle that is a motorcycle or low-power scooter, as respectively defined in section 42-1-102 (55) and (48.5), C.R.S., or that weighs two thousand pounds or less; (B) Eighteen dollars for any vehicle that weighs more than two thousand pounds but not more than five thousand pounds; (C) Twenty-three dollars for any vehicle that weighs more than five thousand pounds but not more than ten thousand pounds; (D) Twenty-nine dollars for any vehicle that is a passenger bus or that weighs more than ten thousand pounds but not more than sixteen thousand pounds; and (E) Thirty-two dollars for any vehicle that weighs more than sixteen thousand pounds. (II) The bridge safety surcharge shall be imposed when a vehicle is registered as required by article 3 of title 42, C.R.S. Each authorized agent shall remit to the department of revenue no less frequently than once a month, but otherwise at the time and in the manner required by the executive director of the department of revenue, all bridge safety surcharges collected by the authorized agent. The executive director of the department of revenue shall forward all bridge safety surcharges remitted by authorized agents plus any bridge safety surcharges collected directly by the department of revenue to the state treasurer, who shall credit the surcharges to the bridge special fund. (III) The amount of the bridge safety surcharge imposed on any vehicle that is an item of Class A personal property, as defined in section 42-3-106 (2) (a), C.R.S., shall be the product of the amount of the surcharge imposed based on the weight of the vehicle pursuant to subparagraph (I) of this paragraph (g) and the percentage of the item's total apportioned registration apportioned to Colorado. (IV) The amount of any bridge safety surcharge imposed pursuant to this paragraph (g) shall be one-half of the amount of the surcharge imposed pursuant to subparagraph (I) of this paragraph (g) for any vehicle that is a truck or truck tractor that is owned by a farmer or rancher and is used commercially only: (A) To transport to market or place of storage raw agricultural products actually produced or livestock actually raised by the farmer or rancher in farming or ranching operations; or (B) To transport commodities or livestock purchased by the farmer or rancher for personal use in the farmer's or rancher's farming or ranching operations. (V) The bridge safety surcharge shall not be imposed on any vehicle for which the department of revenue has issued a horseless carriage special license plate pursuant to section 42-3-219 (1) (a), C.R.S. (VI) Each vehicle registration fee invoice shall list the bridge safety surcharge separately from all other vehicle registration fees or surcharges imposed. (h) To make and enter into contracts or agreements with a private entity, to facilitate a public-private initiative pursuant to sections 43-1-1203 and 43-1-1204, including, but not limited to: (I) An agreement pursuant to which the bridge enterprise or the enterprise on behalf of the department operates, maintains, or provides services or property in connection with a designated bridge project; and (II) An agreement pursuant to which a private entity designs, develops, constructs, reconstructs, repairs, operates, or maintains all or any portion of a designated bridge project on behalf of the bridge enterprise; (i) To make and to enter into all other contracts or agreements, including, but not limited to, design-build contracts, as defined in section 43-1-1402 (3), and intergovernmental agreements pursuant to section 29-1-203, C.R.S., that are necessary or incidental to the exercise of its powers and performance of its duties; (j) To employ or contract for the services of consulting engineers or other experts as are necessary in its judgment to carry out its powers and duties; (k) To prepare, or cause to be prepared, detailed plans, specifications, or estimates for any designated bridge project within the state; (l) In connection with any designated bridge project, to acquire, finance, repair, reconstruct, replace, operate, and maintain any designated bridge within the state; (m) To set and adopt, on an annual basis, a budget for the bridge enterprise; (n) To purchase, trade, exchange, acquire, buy, sell, lease, lease with an option to purchase, dispose of, or encumber real or personal property or any interest therein, including easements and rights-of-way, without restriction or limitation; (o) To enter into interest rate exchange agreements for bonds that have been issued in accordance with article 59.3 of title 11, C.R.S.; (p) Pursuant to section 24-1-107.5, C.R.S., to establish, create, and approve nonprofit entities and bonds issued by or on behalf of such nonprofit entities for the purpose of completing a designated bridge project, to accept the assets of any such nonprofit entity, to obtain an option to acquire the assets of any such nonprofit entity by paying its bonds, to appoint or approve the appointment of members of the governing board of any such nonprofit entity, and to remove the members of the governing board of any such nonprofit entity for cause; (q) To transfer money, property, or other assets of the bridge enterprise to the department to the extent necessary to implement the financing of any designated bridge project or for any other purpose authorized in this part 8; (r) (I) To contract with the state to borrow moneys under the terms of one or more loan contracts entered into by the state and the bridge enterprise pursuant to subparagraph (III) of this paragraph (r), to expend any moneys borrowed from the state for the purpose of completing designated bridge projects and for any other authorized purpose that constitutes the construction, supervision, and maintenance of the public highways of this state for purposes of section 18 of article X of the state constitution, and to use revenues generated by any bridge safety surcharge imposed pursuant to paragraph (g) of this subsection (5) and any other legally available moneys of the bridge enterprise to repay the moneys borrowed and any other amounts payable under the terms of the loan contract. (II) If the bridge enterprise board seeks to enter into a contract to borrow moneys from the state as authorized by subparagraph (I) of this paragraph (r), the board shall provide the governor with a list of designated bridge projects to be financed with the borrowed moneys and a statement of both the total amount of the loan requested and the estimated amount of the loan that will be used to fund each project on the list. If the governor determines, in the governor's sole discretion, that lending moneys to the bridge enterprise as requested by the enterprise, or lending a lesser amount of moneys to the enterprise, is in the best interest of the state, the governor, after consultation with the executive director of the department of personnel and the state treasurer, shall prepare and provide to the state treasurer a list of state buildings or other state capital facilities that the state, acting by and through the state treasurer, may sell or lease and lease back pursuant to the terms of one or more lease-purchase agreements that the state, acting by and through the state treasurer, may enter into pursuant to subparagraph (III) of this paragraph (r). When providing the list, the governor shall also specify to the state treasurer the maximum permitted principal amount of any loan that may be made to the bridge enterprise under the terms of any loan contract that the state, acting by and through the state treasurer, may enter into pursuant to sub-subparagraph (A) of subparagraph (III) of this paragraph (r). (III) (A) If the state treasurer receives a list from the governor pursuant to subparagraph (II) of this paragraph (r), the state, acting by and through the state treasurer, may enter into a loan contract with the bridge enterprise and may raise the money needed to make a loan pursuant to the terms of the loan contract by selling or leasing one or more of the state buildings or other state capital facilities on the list. The state treasurer shall have sole discretion to enter into a loan contract on behalf of the state and to determine the amount of a loan; except that the principal amount of a loan shall not exceed the maximum amount specified by the governor pursuant to subparagraph (II) of this paragraph (r). The state treasurer shall also have sole discretion to determine the timing of the entry of the state into any loan contract or the sale or lease of one or more state buildings or other state capital facilities. The loan contract shall require the bridge enterprise to pledge to the state all or a portion of the revenues of any bridge safety surcharge imposed pursuant to paragraph (g) of this subsection (5) for the repayment of the loan and may also require the enterprise to pledge to the state any other legally available revenues of the enterprise. Any loan contract entered into by the state, acting by and through the state treasurer, and the bridge enterprise pursuant to this sub-subparagraph (A) and any pledge of revenues by the enterprise pursuant to such a loan contract shall be only for the benefit of, and enforceable only by, the state and the enterprise. Specifically, but without limiting the generality of said limitation, no such loan contract or pledge shall be for the benefit of, or enforceable by, a lessor under a lease-purchase agreement entered into pursuant to this subparagraph (III), an owner of any instrument evidencing rights to receive rentals or other payments made and to be made under such a lease-purchase agreement as authorized by sub-subparagraph (B) of subparagraph (IV) of this paragraph (r), a party to any ancillary agreement or instrument entered into pursuant to subparagraph (V) of this paragraph (r), or a party to any interest rate exchange agreement entered into pursuant to sub-subparagraph (A) of subparagraph (VII) of this paragraph (r). (B) The state, acting by and through the state treasurer, may enter into one or more lease-purchase agreements with respect to the state buildings or other capital facilities sold or leased pursuant to sub-subparagraph (A) of this subparagraph (III) with any for-profit or nonprofit corporation, trust, or commercial bank acting as a trustee, as the lessor. (C) Any lease-purchase agreement authorized pursuant to sub-subparagraph (B) of this subparagraph (III) shall provide that all of the obligations of the state under the agreement shall be subject to the action of the general assembly in annually making moneys available for all payments thereunder. (D) Any lease-purchase agreement authorized pursuant to sub-subparagraph (B) of this subparagraph (III) shall also provide that the obligations of the state under the agreement shall not be deemed or construed as creating an indebtedness of the state within the meaning of any provision of the state constitution or the laws of this state concerning or limiting the creation of indebtedness by the state, and shall not constitute a multiple-fiscal year direct or indirect debt or other financial obligation of the state within the meaning of section 20 (4) (a) of article X of the state constitution. If the state does not renew a lease-purchase agreement authorized pursuant to sub-subparagraph (B) of this subparagraph (III), the sole security available to the lessor shall be the property that is the subject of the nonrenewed lease-purchase agreement. (IV) (A) Any lease-purchase agreement authorized pursuant to sub-subparagraph (B) of subparagraph (III) of this paragraph (r) may contain such terms, provisions, and conditions as the state treasurer, acting on behalf of the state, may deem appropriate, including all optional terms; except that each lease-purchase agreement shall specifically authorize the state to receive fee title to all real and personal property that is the subject of the lease-purchase agreement on or prior to the expiration of the terms of the lease-purchase agreement upon payment of all amounts payable under the terms of the lease-purchase agreement and any amount required to be paid to remove liens or encumbrances on or claims with respect to the property that is the subject of the lease-purchase agreement, including, but not limited to, liens, encumbrances, or claims relating to any ancillary agreement or instrument entered into pursuant to sub-subparagraph (A) of subparagraph (VII) of this paragraph (r). Any title to such property received by the state on or prior to the expiration of the terms of the lease-purchase agreement shall be held for the benefit and use of the state. (B) Any lease-purchase agreement authorized pursuant to sub-subparagraph (B) of subparagraph (III) of this paragraph (r) may provide for the issuance, distribution, and sale of instruments evidencing rights to receive rentals and other payments made and to be made under the lease-purchase agreement. The instruments may be issued, distributed, or sold only by the lessor or any person designated by the lessor and not by the state. The instruments shall not create a relationship between the purchasers of the instruments and the state or create any obligation on the part of the state to the purchasers. The instruments shall not be notes, bonds, or any other evidence of indebtedness of the state within the meaning of any provision of the state constitution or the law of the state concerning or limiting the creation of indebtedness of the state and shall not constitute a multiple-fiscal year direct or indirect debt or other financial obligation of the state within the meaning of section 20 (4) (a) of article X of the state constitution. (C) Interest paid under a lease-purchase agreement authorized pursuant to sub-subparagraph (B) of subparagraph (III) of this paragraph (r), including interest represented by the instruments, shall be exempt from state income tax. (V) The state, acting by and through the state treasurer, may enter into ancillary agreements and instruments deemed necessary or appropriate in connection with a lease-purchase agreement authorized pursuant to sub-subparagraph (B) of subparagraph (III) of this paragraph (r), including but not limited to deeds, leases, sub-leases, easements, or other instruments relating to the real property on which the facilities are located or an agreement entered into pursuant to subparagraph (VII) of this paragraph (r). (VI) The provisions of section 24-30-202 (5) (b), C.R.S., shall not apply to a lease-purchase agreement authorized pursuant to sub-subparagraph (B) of subparagraph (III) of this paragraph (r) or any ancillary agreement or instrument or interest rate exchange agreement entered into pursuant to subparagraph (V) or sub-subparagraph (A) of subparagraph (VII) of this paragraph (r). Any provision of the fiscal rules promulgated pursuant to section 24-30-202 (1) and (13), C.R.S., that the state controller deems to be incompatible or inapplicable with respect to such a lease-purchase agreement, ancillary agreement or instrument, or interest rate exchange agreement may be waived by the controller or his or her designee. (VII) (A) Prior to executing a lease-purchase agreement pursuant to sub-subparagraph (B) of subparagraph (III) of this paragraph (r), in order to protect against future interest rate increases, the lessor under any lease-purchase agreement or the state, acting by and through the state treasurer and at the discretion of the state treasurer, may enter into an interest rate exchange agreement in accordance with article 59.3 of title 11, C.R.S. A lease-purchase agreement entered into pursuant to sub-subparagraph (B) of subparagraph (III) of this paragraph (r) shall be a proposed public security for the purposes of article 59.3 of title 11, C.R.S. (B) Any agreement entered into pursuant to this subparagraph (VII) shall also provide that the obligations of the state shall not be deemed or construed as creating an indebtedness of the state within the meaning of any provision of the state constitution or the laws of this state concerning or limiting the creation of indebtedness by the state and shall not constitute a multiple-fiscal year direct or indirect debt or other financial obligation of the state within the meaning of section 20 (4) (a) of article X of the state constitution. (C) Any moneys received by the state under an agreement entered into pursuant to this subparagraph (VII) shall be used to make payments on lease-purchase agreements entered into pursuant to sub-subparagraph (A) of subparagraph (III) of this paragraph (r). (s) To have and exercise all rights and powers necessary or incidental to or implied from the specific powers and duties granted in this section. (6) No later than February 15, 2011, and no later than February 15 of each year thereafter, the bridge enterprise shall present a report to the committees of the house of representatives and the senate that have jurisdiction over transportation. The report shall include a summary of the bridge enterprise's activities for the previous year, a summary of the status of any current designated bridge projects, a statement of the enterprise's revenues and expenses, an estimate of the number of jobs created or preserved as a result of the enterprise's activities, and any recommendations for statutory changes that the enterprise deems necessary or desirable. The committees shall review the report and may recommend legislation. The report shall be public and shall be available on the web site of the department on or before January 15 of the year in which the report is presented. 43-4-809. Bonds - investments - bonds eligible for investment and exempt from taxation. (1) (a) Both the tolling enterprise and the bridge enterprise may, from time to time, issue bonds for any of their corporate purposes. The bonds shall be issued pursuant to resolution of the tolling enterprise board or the bridge enterprise board and shall be payable solely out of all or a specified portion of the moneys in the tolling special fund or the bridge special fund as the case may be. (b) Bonds may be executed and delivered by the issuing enterprise at such times; may be in such form and denominations and include such terms and maturities; may be subject to optional or mandatory redemption prior to maturity with or without a premium; may be in fully registered form or bearer form registrable as to principal or interest or both; may bear such conversion privileges; may be payable in such installments and at such times not exceeding forty-five years from the date thereof; may be payable at such place or places whether within or without the state; may bear interest at such rate or rates per annum, which may be fixed or vary according to index, procedure, or formula or as determined by the issuing enterprise or its agents, without regard to any interest rate limitation appearing in any other law of the state; may be subject to purchase at the option of the holder or the issuing enterprise; may be evidenced in such manner; may be executed by such officers of the issuing enterprise, including the use of one or more facsimile signatures so long as at least one manual signature appears on the bonds, which may be either of an officer of the issuing enterprise or of an agent authenticating the same; may be in the form of coupon bonds that have attached interest coupons bearing a manual or facsimile signature of an officer of the issuing enterprise; and may contain such provisions not inconsistent with this part 8, all as provided in the resolution of the issuing enterprise under which the bonds are authorized to be issued or as provided in a trust indenture between the issuing enterprise and any commercial bank or trust company having full trust powers. (c) Bonds of the issuing enterprise may be sold at public or private sale at such price or prices, in such manner, and at such times as determined by the board of the issuing enterprise, and the board may pay all fees, expenses, and commissions that it deems necessary or advantageous in connection with the sale of the bonds. The power to fix the date of sale of the bonds, to receive bids or proposals, to award and sell bonds, to fix interest rates, and to take all other action necessary to sell and deliver the bonds may be delegated to an officer or agent of the issuing enterprise. Any outstanding bonds may be refunded by the issuing enterprise pursuant to article 56 of title 11, C.R.S. All bonds and any interest coupons applicable thereto are declared to be negotiable instruments. (d) The resolution or trust indenture authorizing the issuance of the bonds may pledge all or a portion of the tolling special fund or the bridge special fund, as the case may be; may, respectively, pledge all or a portion of the rights of the tolling enterprise to impose, and receive the revenues generated by, any user fee or other charge authorized by section 43-4-807 or all or a portion of the rights of the bridge enterprise to impose, and receive the revenues generated by, a bridge safety surcharge authorized by section 43-4-808 (5) (g); may contain such provisions for protecting and enforcing the rights and remedies of holders of any of the bonds as the issuing enterprise deems appropriate; may set forth the rights and remedies of the holders of any of the bonds; and may contain provisions that the issuing enterprise deems appropriate for the security of the holders of the bonds, including, but not limited to, provisions for letters of credit, insurance, standby credit agreements, or other forms of credit ensuring timely payment of the bonds, including the redemption price or the purchase price. (e) Any pledge of the tolling special fund, the bridge special fund, or other property made by an issuing enterprise or by any person or governmental unit with which an issuing enterprise contracts shall be valid and binding from the time the pledge is made. The pledged special fund or other pledged property shall immediately be subject to the lien of the pledge without any physical delivery or further act, and the lien of the pledge shall be valid and binding against all parties having claims of any kind in tort, contract, or otherwise against the pledging party regardless of whether the claiming party has notice of the lien. The instrument by which the pledge is created need not be recorded or filed. (f) Neither the members of the board of an issuing enterprise, employees of the issuing enterprise, nor any person executing the bonds shall be liable personally on the bonds or subject to any personal liability by reason of the issuance thereof. (g) An issuing enterprise may purchase its bonds out of any available moneys and may hold, pledge, cancel, or resell such bonds subject to and in accordance with agreements with the holders thereof. (2) An issuing enterprise may invest or deposit any proceeds and any interest from the sale of bonds in the manner provided by part 6 of article 75 of title 24, C.R.S. In addition, an issuing enterprise may direct a corporate trustee that holds such proceeds and any interest to invest or deposit such proceeds and any interest in investments or deposits other than those specified by said part 6 if the board of the issuing enterprise determines, by resolution, that the investment or deposit meets the standard established in section 15-1-304, C.R.S., the income is at least comparable to income available on investments or deposits specified by said part 6, and the investment will assist the issuing enterprise in the completion of a toll highway or designated bridge project. (3) All banks, trust companies, savings and loan associations, insurance companies, executors, administrators, guardians, trustees, and other fiduciaries may legally invest any moneys within their control in any bonds issued under this part 8. Public entities, as defined in section 24-75-601 (1), C.R.S., may invest public moneys in such bonds only if the bonds satisfy the investment requirements established in part 6 of article 75 of title 24, C.R.S. (4) The income or other revenues of the tolling enterprise and the bridge enterprise, all properties at any time owned by either enterprise, bonds issued by either enterprise, and the transfer of and the income from any bonds issued by either enterprise shall be exempt from all taxation and assessments in the state. In the resolution or indenture authorizing the bonds, the issuing enterprise may waive the exemption from federal income taxation for interest on the bonds. Bonds issued by an issuing enterprise shall be exempt from the provisions of article 51 of title 11, C.R.S. 43-4-810. Traffic laws - toll collection - rules. (1) The traffic laws of this state, and those of any municipality through which a toll highway passes, and the tolling enterprise's regulations regarding toll collection and enforcement shall pertain to and govern the use of the toll highway. State and local law enforcement authorities are authorized to enter into traffic and toll enforcement agreements with the tolling enterprise. Any moneys received by a state law enforcement authority pursuant to a toll enforcement agreement shall be subject to annual appropriations by the general assembly to the law enforcement authority for the purpose of performing its duties pursuant to the agreement. (2) The tolling enterprise may adopt, by resolution of the tolling enterprise board, rules pertaining to the enforcement of toll collection and providing a civil penalty for toll evasion. The civil penalty established by the tolling enterprise for any toll evasion shall be not less than ten dollars nor more than two hundred fifty dollars in addition to any costs imposed by a court. The tolling enterprise may use state-of-the-art technology, including, but not limited to, automatic vehicle identification photography, to aid in the collection of tolls and enforcement of toll violations. The use of state-of-the-art technology to aid in enforcement of toll violations shall be governed solely by this section. (3) (a) Any person who evades a toll established by the tolling enterprise shall be subject to the civil penalty established by the tolling enterprise for toll evasion. Any peace officer as described in section 16-2.5-101, C.R.S., shall have the authority to issue civil penalty assessments, or municipal summons and complaints if authorized pursuant to a municipal ordinance, for toll evasion. (b) At any time that a person is cited for toll evasion, the person operating the motor vehicle involved shall be given either a notice in the form of a civil penalty assessment notice or a municipal summons and complaint. (c) If a civil penalty assessment notice is issued, the notice shall be tendered by a peace officer as described in section 16-2.5-101, C.R.S., and shall contain the name and address of the person operating the motor vehicle involved, the license number of the motor vehicle, the person's driver's license number, the nature of the violation, the amount of the penalty prescribed for the violation, the date of the notice, a place for the person to execute a signed acknowledgment of the person's receipt of the civil penalty assessment notice, a place for the person to execute a signed acknowledgment of liability for the cited violation, and such other information as may be required by law to constitute the notice as a complaint to appear for adjudication of a toll evasion pursuant to this section if the prescribed toll, fee, or civil penalty is not paid within twenty days. Every cited person shall execute the signed acknowledgment of the person's receipt of the civil penalty assessment notice. (d) The acknowledgment of liability shall be executed at the time the person cited pays the prescribed penalty. The person cited shall pay the toll, fee, or civil penalty authorized by the tolling enterprise at the office of the tolling enterprise or the tolling enterprise's collection designee either in person or by postmarking the payment within twenty days of the notice. If the person cited does not pay the prescribed toll, fee, or civil penalty within twenty days of the notice, the civil penalty assessment notice shall constitute a complaint to appear for adjudication of a toll evasion pursuant to this section, and the person cited shall, within the time specified in the civil penalty assessment notice, file an answer to this complaint in the manner specified in the notice. (e) If a municipal summons and complaint is issued, the adjudication of the violation shall be conducted and the format of the summons and complaint shall be determined pursuant to the terms of the municipal ordinance authorizing issuance of the summons and complaint. In no case shall the penalty upon conviction for violation of a municipal ordinance for toll evasion exceed the limit established in subsection (2) of this section. (4) (a) The respective courts of the municipalities, counties, and cities and counties shall have jurisdiction to try all cases arising under municipal ordinances and state laws governing the use of a toll highway and arising under the toll evasion civil penalty rules enacted by the tolling enterprise. Venue for any such case shall be in the municipality, county, or city and county where the alleged violation of a municipal ordinance, state law, or rule of the tolling enterprise occurred. (b) At the request of the judicial department, the tolling enterprise shall consider establishing an administrative toll enforcement process and may, by resolution of the tolling enterprise board, adopt rules creating such a process. The rules pertaining to the administrative enforcement of toll evasion shall require notice to the person cited for toll evasion and provide to the person an opportunity to appear at an open hearing conducted by an impartial hearing officer and a right to appeal the final administrative determination of toll evasion to the county court for the county in which the violation occurred. (c) If the tolling enterprise establishes an administrative toll enforcement process, no court of a municipality, county, or city and county shall have jurisdiction to hear toll evasion cases arising on a toll highway operated by the tolling enterprise. (d) A toll evasion case may be adjudicated by an impartial hearing officer in an administrative hearing conducted pursuant to this section and the rules promulgated by the tolling enterprise. The hearing officer may be an administrative law judge employed by the state or an independent contractor of the tolling enterprise. The contract for an independent contractor shall grant to the hearing officer the same degree of independence granted to an administrative law judge employed by the state. The tolling enterprise may enter into contracts pursuant to section 29-1-203, C.R.S., for joint adjudication of toll evasion cases pursuant to this section. (e) The tolling enterprise may file a certified copy of an order imposing a toll, fee, and civil penalty that is entered by the hearing officer in an adjudication of a toll evasion with the clerk of the county court in the county in which the violation occurred at any time after the order is entered. The clerk shall record the order in the judgment book of the court and enter it in the judgment docket. The order shall thenceforth have the effect of a judgment of the county court, and execution may issue on the order out of the court as in other cases. (f) An administrative adjudication of a toll evasion by the tolling enterprise is subject to judicial review. The administrative adjudication may be appealed as to matters of law and fact to the county court for the county in which the violation occurred. The appeal shall be a de novo hearing. (g) Notwithstanding the specific remedies provided by this section, the tolling enterprise shall have every legal remedy available to enforce unpaid tolls and fees as debts owed to the tolling enterprise. (5) The aggregate amount of penalties, exclusive of court costs, collected as a result of civil penalties imposed pursuant to rules adopted as authorized in subsection (2) of this section shall be remitted to the tolling enterprise and shall be applied by the tolling enterprise to defray the costs and expenses of enforcing the laws of the state and the regulations of the tolling enterprise. If a municipal summons or complaint is issued, the aggregate penalty shall be apportioned pursuant to the terms of any enforcement agreement. (6) (a) In addition to the penalty assessment procedure provided for in subsection (3) of this section, where an instance of toll evasion is evidenced by automatic vehicle identification photography or other technology not involving a peace officer, a civil penalty assessment notice may be issued and sent by first-class mail, or by any mail delivery service offered by an entity other than the United States postal service that is equivalent to or superior to first-class mail with respect to delivery speed, reliability, and price, by the tolling enterprise to the registered owner of the motor vehicle involved. The notice shall contain the name and address of the registered owner of the vehicle involved, the license number of the vehicle involved, the date of the notice, the date, time, and location of the violation, the amount of the penalty prescribed for the violation, a place for such person to execute a signed acknowledgment of liability for the cited violation, and such other information as may be required by law to constitute the notice as a complaint to appear for adjudication of a toll evasion civil penalty assessment. Except as otherwise provided in paragraphs (b) and (c) of this subsection (6), the registered owner of the vehicle involved in a toll evasion shall be presumed liable for the toll, fee, or civil penalty imposed by the tolling enterprise. If the registered owner of the vehicle does not pay the prescribed toll, fee, or civil penalty within thirty days of the date of the civil penalty assessment notice, the notice shall constitute a complaint to appear for adjudication of a toll evasion in court or in an administrative toll enforcement proceeding, and the registered owner of the vehicle shall, within the time specified in the notice, file an answer to the complaint in the manner specified in the notice. If the registered owner of the vehicle fails to pay in full the outstanding toll, fee, or civil penalty as set forth in the notice or to appear and answer the complaint and request a hearing as specified in the notice, a final order of liability shall be entered against the registered owner of the vehicle for the purposes of enabling the registered owner to appeal pursuant to paragraph (f) of subsection (4) of this section and allowing the tolling enterprise to proceed to judgment pursuant to paragraph (e) of subsection (4) of this section. (b) In addition to any other liability provided for in this section, the owner of a motor vehicle who is engaged in the business of leasing or renting motor vehicles is liable for payment of a toll evasion violation civil penalty; except that, at the discretion of such owner: (I) The owner may obtain payment for a toll evasion violation civil penalty from the person or company who leased or rented the vehicle at the time of the toll evasion through a credit or debit card payment and forward the payment to the tolling enterprise; or (II) The owner may seek to avoid liability for a toll evasion violation civil penalty if the owner of the leased or rented motor vehicle can furnish sufficient evidence that, at the time of the toll evasion violation, the vehicle was leased or rented to another person. To avoid liability for payment, the owner of the motor vehicle shall, within thirty days after receipt of the notification of the toll evasion violation, furnish to the tolling enterprise an affidavit containing the name, address, and state driver's license number of the person or company who leased or rented the vehicle. As a condition to avoid liability for payment of a toll evasion violation civil penalty, any person or company who leases or rents motor vehicles to a person shall include a notice in the leasing or rental agreement stating that, pursuant to the requirements of this section, the person renting or leasing the vehicle is liable for payment of a toll evasion violation civil penalty incurred on or after the date the person renting or leasing the vehicle takes possession of the motor vehicle. The notice shall inform the person renting or leasing the vehicle that the person's name, address, and state driver's license number shall be furnished to the tolling enterprise when a toll evasion violation civil penalty is incurred during the term of the lease or rental agreement. (c) The registered owner of a vehicle involved in a toll evasion violation may rebut the presumption of liability for the violation by proving by a preponderance of the evidence that: (I) The owner sold or otherwise transferred ownership of the vehicle to another person before the date of the violation as evidenced by a bill of sale or similar document; or (II) The owner did not have custody and control of the vehicle at the time of the violation due to theft as evidenced by a report to a law enforcement agency. (7) A court with jurisdiction in a toll evasion case pursuant to paragraph (a) of subsection (4) of this section or the tolling enterprise, if it has jurisdiction in a toll evasion case pursuant to paragraph (b) of subsection (4) of this section, may report to the department of revenue any outstanding judgment or warrant or any failure to pay the toll, fee, or civil penalty for any toll evasion. Upon receipt of a certified report from a court or the tolling enterprise stating that the owner of a registered vehicle has failed to pay a toll, fee, or civil penalty resulting from a final order entered by the tolling enterprise, the department shall not renew the registration of the vehicle until the toll, fee, and civil penalty are paid in full. The tolling enterprise shall contract with and compensate a vendor approved by the department for the direct costs associated with the nonrenewal of a vehicle registration pursuant to this subsection (7). The department has no authority to assess any points against a license under section 42-2-127, C.R.S., upon entry of a conviction or judgment for any toll evasion. 43-4-811. Enterprises - applicability of other laws. (1) Notwithstanding any law to the contrary, neither the tolling enterprise nor the bridge enterprise shall be subject to the provisions of the "Procurement Code", articles 101 to 112 of title 24, C.R.S. (2) (a) The tolling enterprise and the bridge enterprise shall be subject to the open meetings provisions of the "Colorado Sunshine Act of 1972" contained in part 4 of article 6 of title 24, C.R.S., and the "Colorado Open Records Act", part 2 of article 72 of title 24, C.R.S. (b) For purposes of the "Colorado Open Records Act", part 2 of article 72 of title 24, C.R.S., the records of the tolling enterprise and the bridge enterprise shall be public records, as defined in section 24-72-202 (6), C.R.S., regardless of whether the tolling enterprise or the bridge enterprise receives less than ten percent of its total annual revenues in grants from all Colorado state and local governments combined. (3) Revenues of the tolling enterprise and the bridge enterprise shall not be subject to the provisions of section 43-1-1205. (4) The tolling enterprise and the bridge enterprise shall each constitute a public entity for purposes of part 2 of article 57 of title 11, C.R.S. (5) Labor standards specified in law that apply to the department shall apply with equal force to the tolling enterprise and the bridge enterprise. 43-4-812. Fees and surcharges - limitations on use. As required by section 18 of article X of the state constitution, the proceeds of any fee or surcharge imposed pursuant to the provisions of this part 8 that is a license fee, registration fee, or other charge with respect to the operation of any vehicle upon any public highway in this state shall be used exclusively for the construction, maintenance, and supervision of the public highways of this state as specified in this part 8. 43-4-813. Applicability of prior law. The repeal and reenactment of this part 8 by Senate Bill 11-_____, enacted in 2011, shall not affect the rights or obligations of any person relating to any fee, toll, rate, charge, or surcharge imposed or to any bonds issued pursuant to the provisions of this part 8 as it existed before July 1, 2011. SECTION 2. 1-5-407 (5) (a), Colorado Revised Statutes, is amended to read: 1-5-407. Form of ballots. (5) (a) Whenever the approval of a ballot issue or ballot question is submitted to the vote of the people, the ballot issue or question shall be printed upon the ballot following the lists of candidates. Except as otherwise provided in section 32-9-119.3 (2), C.R.S., Referred amendments shall be printed first, followed by initiated amendments, referred propositions, initiated propositions, county issues and questions, municipal issues and questions, school district issues and questions, ballot issues and questions for other political subdivisions which are in more than one county, and then ballot issues and questions for other political subdivisions which are wholly within a county. SECTION 3. 24-1-128.7 (5) and (6), Colorado Revised Statutes, are amended to read: 24-1-128.7. Department of transportation - creation. (5) The statewide bridge enterprise created in section 43-4-805 (2), C.R.S., section 43-4-808 (2) (a) (I), C.R.S., shall exercise its powers and perform its duties and functions as if the same were transferred by a type 1 transfer, as defined in section 24-1-105, to the department of transportation. (6) (a) The high-performance transportation statewide tolling enterprise created in section 43-4-806 (2) (a), C.R.S., pursuant to section 43-4-803 (1), C.R.S., shall exercise its powers and perform its duties and functions as if the same were transferred by a type 1 transfer, as defined in section 24-1-105, to the department of transportation. (b) The statewide tolling high-performance transportation enterprise, created by the transportation commission pursuant to section 43-4-803 (1), C.R.S., section 43-4-806 (2) (a) (I), C.R.S., prior to the repeal and reenactment of said section by Senate Bill 09-108, enacted in 2009, 11-_____, enacted in 2011, and its powers, duties, and functions are transferred by a type 3 transfer, as defined in section 24-1-105, to the high-performance transportation statewide tolling enterprise created in section 43-4-806 (2) (a), section 43-4-803 (1), C.R.S., and the statewide tolling high-performance transportation enterprise is abolished. SECTION 4. The introductory portion to 32-9-119 (2) (a), Colorado Revised Statutes, is amended to read: 32-9-119. Additional powers of district. (2) (a) To provide revenue to finance the operations of the district, to defray the cost of construction of capital improvements and acquisition of capital equipment, and to pay the interest and principal on securities of the district, the board, for and on behalf of the district after approval by election held pursuant to articles 1 to 13 of title 1, C.R.S., and, with respect to any tax rate increase that takes effect on or after March 2, 2009, in accordance with section 32-9-119.3, shall have the power to levy uniformly throughout the district a sales tax at any rate that may be approved by the board the rate of six-tenths of one percent, or at the rate of one percent if approved by the eligible electors of the district in accordance with section 32-9-119.4, upon every transaction or other incident with respect to which a sales tax is now levied by the state, pursuant to the provisions of article 26 of title 39, C.R.S.; except that: SECTION 5. Repeal. 32-9-119.3, Colorado Revised Statutes, is repealed as follows: 32-9-119.3. Elections for sales tax rate increase. (1) The board, in accordance with the provisions of section 20 (4) of article X of the state constitution, may submit to the registered electors of the district one or more ballot questions to increase the rate of the sales tax levied by the district pursuant to section 32-9-119 (2) (a) to any rate approved by the board, with or without an accompanying increase in district debt, for such purposes authorized by this article as may be specified in any such ballot question. (2) A ballot question submitted pursuant to subsection (1) of this section shall be submitted at a general election or an election held on the first Tuesday of November in an odd-numbered year that is conducted in accordance with the "Uniform Election Code of 1992", articles 1 to 13 of title 1, C.R.S. The secretary of state shall determine the identifying numbering or lettering of such a ballot question, and the question shall be printed upon the ballot immediately following any statewide amendments and propositions. (3) If a majority of the registered electors voting on a ballot question submitted pursuant to subsection (1) of this section vote affirmatively on the question, the rate of the sales tax levied by the district pursuant to section 32-9-119 (2) (a) shall be increased to the rate specified in the ballot question and approved by the registered electors. (4) Nothing in this section shall be construed to limit the ability of the district to seek the approval of the registered electors of the district regarding any other matter for which such approval may be sought. SECTION 6. 38-1-202 (1) (b) (IV) (J) and (1) (b) (IV) (J.5), Colorado Revised Statutes, are amended to read: 38-1-202. Governmental entities, corporations, and persons authorized to use eminent domain. (1) The following governmental entities, types of governmental entities, and public corporations, in accordance with all procedural and other requirements specified in this article and articles 2 to 7 of this title and to the extent and within any time frame specified in the applicable authorizing statute may exercise the power of eminent domain: (b) The state: (IV) By action of the general assembly or by action of any of the following officers and agencies of the state: (J) The statewide bridge enterprise as authorized in section 43-4-805 (5) (e), section 43-4-808 (5) (e), C.R.S.; (J.5) The high-performance transportation statewide tolling enterprise as authorized in section 43-4-806 (6) (e), section 43-4-807 (1) (g), C.R.S.; and SECTION 7. 42-3-103 (4) (a), Colorado Revised Statutes, is amended to read: 42-3-103. Registration required - exemptions. (4) (a) Within ninety thirty days after becoming a resident of Colorado, an owner of a motor vehicle required to be registered by subsection (1) of this section shall register such the vehicle with the department, irrespective of such the vehicle being registered within another state or country. A person who violates this paragraph (a) is subject to the penalties provided in sections 42-6-139, and 43-4-804 (1) (d), C.R.S. section 42-6-139. SECTION 8. 42-3-112, Colorado Revised Statutes, is amended to read: 42-3-112. Failure to pay tax - penalty - rules. (1) If a vehicle subject to taxation under this article is not registered when required by law, the vehicle owner shall pay is subject to a late fee of twenty-five dollars for each month or portion of a month following the expiration of the registration period, or, if applicable, the expiration of the grace period described in section 42-3-114 for which the vehicle is unregistered; except that the amount of the late fee shall not exceed one hundred dollars. The late fee shall be up to ten dollars, as determined by the department or authorized agent registering the vehicle, which is due when the vehicle is registered. The department or the authorized agent registering the vehicle may waive the late fee. (1.5) (a) Notwithstanding the provisions of subsection (1) of this section, the executive director of the department shall promulgate rules in accordance with article 4 of title 24, C.R.S., that establish circumstances in addition to the circumstances described in subsection (3) of this section in which a vehicle owner shall be exempted from paying the late fee described in said subsection (1). The rules shall apply uniformly throughout the state and shall include, but shall not be limited to, exemptions for: (I) Acts of God and weather-related delays; (II) Office closures and furloughs; (III) Temporary registration number plates, tags, or certificates that have expired; (IV) Medical hardships; and (V) Information technology failures. (b) The executive director of the department shall also promulgate rules in accordance with article 4 of title 24, C.R.S., that allow the department or an authorized agent to reduce or waive the late fee that would otherwise be due upon the registration of a trailer that is a commercial or farm vehicle, as part of the normal operation, if the owner can establish, in accordance with criteria specified in the rules, that the trailer was idled so that it was not operated on any public highway in this state for at least a full registration period. Nothing in this paragraph (b) shall be construed to exempt the owner of an idled trailer from paying any fees imposed pursuant to this article other than the late fee before again operating the trailer on a public highway in this state or from paying any taxes imposed pursuant to this article. The owner shall provide to the department or authorized agent a sworn affidavit that states that the trailer has not been operated on the public highways during the period for which it was not registered as required and describes the nature of the business conditions that resulted in the removal of the trailer from service. (c) The executive director of the department shall consult with the county clerk and recorders in promulgating the rules required by paragraph (a) of this subsection (1.5). (1.7) Notwithstanding the provisions of subsection (1) of this section, on and after July 1, 2010, the amount of the late fee payable by the owner of a vehicle without motive power that weighs sixteen thousand pounds or less or a camper trailer or a multipurpose trailer regardless of its weight, that is subject to taxation under this article, and that is not registered when required by law shall be ten dollars. For purposes of this subsection (1.7), the weight of a trailer of any kind is the empty weight. (2) Ten dollars of The late registration fee shall be retained by the department or the authorized agent who registers the motor vehicle. Each authorized agent shall remit to the department no less frequently than once a month, but otherwise at the time and in the manner required by the executive director of the department, the remainder of the late registration fees collected by the authorized agent. The executive director shall forward all late registration fees remitted by authorized agents plus the remainder of the late registration fees collected directly by the department to the state treasurer, who shall credit the fees to the highway users tax fund in accordance with section 43-4-804 (1) (e), C.R.S. (3) The late fee described in subsection (1) of this section shall not be imposed on a vehicle subject to taxation under this article if: (a) The person who owns the vehicle uses the vehicle in operating a commercial business and, as part of the normal operation of the business, idles the vehicle so that it is not operated on any public highway in this state for at least one full registration period. Nothing in this paragraph (a) shall be construed to exempt the owner of an idled vehicle from paying any fees imposed pursuant to this article other than the late fee before again operating the vehicle on a public highway in this state or from paying any taxes imposed pursuant to this article. (b) The person who owns the vehicle is in the active military service of the United States and is serving outside the state when a registration period and grace period for renewal of registration for the vehicle end and the vehicle is not operated on any public highway of the state between the time the registration period and grace period end and the time the vehicle is reregistered. Nothing in this paragraph (b) shall be construed to exempt the owner of such a vehicle from paying any fees imposed pursuant to this article other than the late fee before again operating the vehicle on a public highway in this state or from paying any taxes imposed pursuant to this article. (c) The vehicle registration expired during the period the vehicle was reported stolen. SECTION 9. 42-6-139 (3), Colorado Revised Statutes, is amended to read: 42-6-139. Registration - where made. (3) A person who knowingly violates any of the provisions of subsection (2) of this section, section 42-3-103 (4) (a), or section 42-6-140, or any rule of the director promulgated pursuant to this part 1 is guilty of a misdemeanor and, upon conviction, shall be punished by a fine of one thousand five hundred dollars. SECTION 10. 42-6-140, Colorado Revised Statutes, is amended to read: 42-6-140. Registration upon becoming resident. Within ninety thirty days after becoming a resident of Colorado, the owner of a motor vehicle shall apply for a Colorado certificate of title, a license, and registration for the vehicle that is registered, that is licensed, or for which a certificate of title is issued in another state. Any person who violates the provisions of this section is subject to the penalties provided in sections section 42-6-139, and 43-4-804 (1) (d), C.R.S. SECTION 11. 42-12-102 (1) (a), Colorado Revised Statutes, is amended to read: 42-12-102. Registration of collector's items - fees. (1) Except for those motor vehicles that are entitled to registration under the provisions of section 42-3-219, collector's items shall be titled, registered, and a specific ownership tax shall be paid thereon in the same manner as provided in this title for other motor vehicles, with the following exceptions: (a) Such collector's items shall be registered for periods of five years. The taxes and fees imposed for registration of a collector's item for each five-year registration period shall be equal to five times the annual taxes and fees which would otherwise be imposed for the registration of such motor vehicle under this title and under title 43, C.R.S.; except that the amount of a bridge safety surcharge imposed pursuant to section 43-4-804 (1) (a) or 43-4-805 (5) (g), 43-4-808 (5) (g), C.R.S., shall be the amount specified in the applicable section. In addition to any other such taxes and fees, if a collector's item is registered in a county which is a member of one or more highway authorities and such authority or authorities have imposed an annual motor vehicle registration fee or fees pursuant to the provisions of section 43-4-506 (1) (k), C.R.S., then five times such annual motor vehicle registration fee or fees shall be imposed and remitted to such authority or authorities. SECTION 12. Repeal. 43-1-106 (17), Colorado Revised Statutes, is repealed as follows: 43-1-106. Transportation commission - powers and duties. (17) (a) The commission shall create a standing efficiency and accountability committee. The committee shall seek ways to maximize the efficiency of the department to allow increased investment in the transportation system over the short, medium, and long term. The committee shall include: (I) From state government: (A) One member of the commission designated by the commission; (B) One member from the office of the executive director designated by the executive director; (C) One member from each of the divisions of the department created in section 43-1-104 (1) designated by the executive director after consultation with the directors of each division; and (D) Any other employees of the department that the executive director may designate; (II) From outside state government, representatives of: (A) The construction industry; (B) The engineering industry; (C) The environmental community; (D) Transportation planning organizations; (E) Public transportation providers; and (F) Any other industries or groups that the commission determines should be represented on the committee. (b) The efficiency and accountability committee shall periodically report to the commission and the executive director regarding means by which the commission and the department may execute their duties more efficiently. The executive director or the executive director's designee shall report at least once per calendar year to either the committees of the house of representatives and the senate that have jurisdiction over transportation or the transportation legislation review committee created in section 43-2-145 (1) regarding the activities and recommendations of the efficiency and accountability committee and any actions taken by the commission or the department to implement recommendations of the committee. SECTION 13. The introductory portion to 43-1-1103 (5) and 43-1-1103 (5) (d), (5) (e), (5) (f), (5) (g), (5) (h), (5) (i), and (5) (j), Colorado Revised Statutes, are amended to read: 43-1-1103. Transportation planning. (5) The department shall integrate and consolidate the regional transportation plans for the transportation planning regions into a comprehensive statewide transportation plan. The formation of such state plan shall be accomplished through a statewide planning process set by rules and regulations promulgated by the commission. The state plan shall address include but shall not be limited to the following factors: (d) The targeting of infrastructure investments, including preservation of the existing transportation system commonly known as "fixing it first" to support the economic vitality of the state and region; (e) Safety enhancement; (f) Strategic mobility and multimodal choice; (g) The support of urban or rural mass transit; (h) Environmental stewardship; (i) Effective, efficient, and safe freight transport; and (j) Reduction of greenhouse gas emissions. SECTION 14. 43-1-1402 (3), Colorado Revised Statutes, is amended to read: 43-1-1402. Definitions. As used in this part 14: (3) "Design-build contract" means the procurement of both the design and the construction of a transportation project in a single contract with a single design-build firm or a combination of such firms that are capable of providing the necessary design and construction services. A design-build contract may also include in the contract the procurement of the financing, operation, or maintenance of the project. SECTION 15. Repeal. 43-4-205 (6.3), Colorado Revised Statutes, is repealed as follows: 43-4-205. Allocation of fund. (6.3) Revenues from the surcharges, fees, and fines credited to the highway users tax fund pursuant to section 43-4-804 (1) shall be allocated and expended in accordance with the formula specified in paragraph (b) of subsection (6) of this section. SECTION 16. Repeal. 43-4-206 (3), Colorado Revised Statutes, is repealed as follows: 43-4-206. State allocation. (3) Notwithstanding the provisions of subsection (1) of this section, the revenues credited to the highway users tax fund pursuant to section 43-4-205 (6.3) shall be expended by the department of transportation only for road safety projects, as defined in section 43-4-803 (21); except that the department shall, in furtherance of its duty to supervise state highways and as a consequence in compliance with section 43-4-810, expend ten million dollars per year of the revenues for the planning, designing, engineering, acquisition, installation, construction, repair, reconstruction, maintenance, operation, or administration of transit-related projects, including, but not limited to, designated bicycle or pedestrian lanes of highway and infrastructure needed to integrate different transportation modes within a multimodal transportation system, that enhance the safety of state highways for transit users. SECTION 17. 43-4-207 (1), Colorado Revised Statutes, is amended to read: 43-4-207. County allocation. (1) After paying the costs of the Colorado state patrol and such other costs of the department, exclusive of highway construction, highway improvements, or highway maintenance, as are appropriated by the general assembly, twenty-six percent of the balance of the highway users tax fund shall be paid to the county treasurers of the respective counties, subject to annual appropriation by the general assembly, and shall be allocated and expended as provided in this section. The moneys thus received shall be allocated to the counties as provided by law and shall be expended by the counties only on the construction, engineering, reconstruction, maintenance, repair, equipment, improvement, and administration of the county highway systems and any other public highways, including any state highways, together with acquisition of rights-of-way and access rights for the same and for no other purpose. except that moneys received pursuant to section 43-4-205 (6.3) shall be expended by the counties only for road safety projects, as defined in section 43-4-803 (21). The amount to be expended for administrative purposes shall not exceed five percent of each county's share of the funds available. SECTION 18. 43-4-208 (1), Colorado Revised Statutes, is amended to read: 43-4-208. Municipal allocation. (1) After paying the costs of the Colorado state patrol and such other costs of the department, exclusive of highway construction, highway improvements, or highway maintenance, as are appropriated by the general assembly, and making allocation as provided by sections 43-4-206 and 43-4-207, the remaining nine percent of the highway users tax fund shall be paid to the cities and incorporated towns within the limits of the respective counties, subject to annual appropriation by the general assembly, and shall be allocated and expended as provided in this section. Each city treasurer shall account for the moneys thus received as provided in this part 2. Moneys so allocated shall be expended by the cities and incorporated towns for the construction, engineering, reconstruction, maintenance, repair, equipment, improvement, and administration of the system of streets of such city or incorporated town or of any public highways located within such city or incorporated town, including any state highways, together with the acquisition of rights-of-way and access rights for the same, and for no other purpose. except that moneys paid to the cities and incorporated towns pursuant to section 43-4-205 (6.3) shall be expended by the cities and incorporated towns only for road safety projects, as defined in section 43-4-803 (21). The amount to be expended for administrative purposes shall not exceed five percent of each city's share of the funds available. SECTION 19. Effective date - applicability. This act shall take effect July 1, 2011, and shall apply to fees, tolls, rates, charges, and bridge safety surcharges imposed and bonds issued on or after said date. SECTION 20. 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.