First Regular Session

Sixty-first General Assembly

LLS NO. 97­0001.01 DLC HOUSE BILL 97­1044

STATE OF COLORADO

BY REPRESENTATIVE May;

also SENATOR Schroeder.

STATE, VETERANS &

MILITARY AFFAIRS

A BILL FOR AN ACT

CONCERNING THE COLORADO INFORMATION NETWORK.

Bill Summary

"Colorado Information Network"

(Note: This summary applies to this bill as introduced and does not necessarily reflect any amendments which may be subsequently adopted.)

Creates the Colorado information network authority. Designates the members of the board of directors of the authority. Specifies the functions of the authority, including the provision of electronic access for members of the public to public information of public agencies through a gateway service or network, or both.

Authorizes the authority to enter into agreements with user associations allowing access to or utilization of the gateway service or network.

Requires public agencies to cooperate with the authority and to provide the authority with access to public information. Allows public agencies to recover reasonable costs incurred in providing such information.

Requires the authority to hire either an individual or business entity as the network manager. Specifies the duties of the network manager, including the direction and supervision of the day­to­day operations of the gateway and network.

Specifies the sources of funding for the authority. Authorizes the issuance of bonds and notes of the authority payable from revenues of the authority. Specifies that such bonds and notes shall not be a debt of the state. Provides that all moneys received by the authority are held as trust funds. Includes the authority within the definition of a special purpose authority for purposes of the state fiscal policies relating to section 20 of article X of the state constitution.

Be it enacted by the General Assembly of the State of Colorado:

SECTION 1.  Article 30 of title 24, Colorado Revised Statutes, 1988 Repl. Vol., as amended, is amended BY THE ADDITION OF A NEW PART to read:

PART 20

COLORADO INFORMATION NETWORK

24­30­2001.  Definitions. AS USED IN THIS PART 20, UNLESS THE CONTEXT OTHERWISE REQUIRES:

(1)  "AUTHORITY" MEANS THE COLORADO INFORMATION NETWORK AUTHORITY CREATED PURSUANT TO SECTION 24­30­2002.

(2)  "BOARD" MEANS THE GOVERNING BODY OF THE AUTHORITY CREATED PURSUANT TO SECTION 24­30­2002.

(3)  "GATEWAY" MEANS ANY CENTRALIZED ELECTRONIC INFORMATION SYSTEM BY WHICH PUBLIC INFORMATION SHALL BE PROVIDED VIA DIAL­IN MODEM OR CONTINUOUS LINK TO THE PUBLIC THROUGH SUBSCRIPTION OR THROUGH PUBLIC LIBRARIES.

(4)  "NETWORK MANAGER" MEANS THE ENTITY OR PERSON ENGAGED TO MANAGE AND OPERATE THE GATEWAY OR NETWORK, OR BOTH, ON BEHALF OF THE AUTHORITY.

(5)  "PUBLIC AGENCY" MEANS ANY PRINCIPAL DEPARTMENT OF THE STATE, ANY STATE AGENCY, INSTITUTION, OR HOSPITAL, ANY BOARD, AUTHORITY, COMMISSION, ADVISORY BOARD, AND ANY OTHER ENTITY ESTABLISHED BY LAW WITHIN ANY EXISTING DEPARTMENT, INSTITUTION, OR AGENCY, ANY STATE­SUPPORTED INSTITUTION OF HIGHER EDUCATION OR OTHER INSTRUMENTALITY THEREOF, ANY POLITICAL SUBDIVISION OF THE STATE, INCLUDING A COUNTY OR MUNICIPALITY, AND THE LEGISLATIVE AND JUDICIAL DEPARTMENTS OF THE STATE.

(6)  "PUBLIC INFORMATION" MEANS ANY INFORMATION STORED, GATHERED, OR GENERATED IN ELECTRONIC, MAGNETIC, OR OPTICAL FORM BY A STATE AGENCY THAT IS INCLUDED WITHIN THE INFORMATION DEEMED TO BE A PUBLIC RECORD AS DEFINED IN SECTION 24­72­202 (6).

(7)  "USER ASSOCIATION" MEANS AN ASSOCIATION THAT:

(a)  HAS A MEMBERSHIP IDENTIFIABLE BY THE REGULAR PAYMENT OF ASSOCIATION DUES AND REGULARLY MAINTAINED MEMBERSHIP LISTS;

(b)  IS REGISTERED WITH THE STATE OR IS A COLORADO CORPORATION REGISTERED IN ACCORDANCE WITH THE "COLORADO BUSINESS CORPORATION ACT", ARTICLES 101 TO 117 OF TITLE 7, C.R.S.;

(c)  EXISTS FOR THE PURPOSE OF ADVANCING THE COMMON OCCUPATION OR PROFESSION OF ITS MEMBERSHIP; AND

(d)  REGULARLY PROMOTES AND ENCOURAGES THE SUBSCRIPTION OF ITS MEMBERS TO THE GATEWAY SERVICE OR NETWORK, OR BOTH, PROVIDED BY THE AUTHORITY.

24­30­2002. Colorado information network authority ­ creation ­ board. (1)  THERE IS HEREBY CREATED AN INDEPENDENT PUBLIC BODY POLITIC AND CORPORATE TO BE KNOWN AS THE COLORADO INFORMATION NETWORK AUTHORITY. THE AUTHORITY IS CONSTITUTED A PUBLIC INSTRUMENTALITY, AND ITS EXERCISE OF THE POWERS CONFERRED BY THIS PART 20 SHALL BE DEEMED AND HELD TO BE THE PERFORMANCE OF AN ESSENTIAL PUBLIC FUNCTION. THE AUTHORITY SHALL BE A BODY CORPORATE AND A POLITICAL SUBDIVISION OF THE STATE AND SHALL NOT BE AN AGENCY OF THE STATE GOVERNMENT AND SHALL NOT BE SUBJECT TO ADMINISTRATIVE DIRECTION BY ANY DEPARTMENT, COMMISSION, BOARD, OR AGENCY OF THE STATE.

(2)  THE AUTHORITY SHALL CONSTITUTE AN ENTERPRISE FOR THE PURPOSES OF SECTION 20 OF ARTICLE X OF THE STATE CONSTITUTION, SO LONG AS THE BOARD RETAINS THE AUTHORITY TO ISSUE REVENUE BONDS PURSUANT TO SECTION 24­30­2009 AND THE AUTHORITY RECEIVES LESS THAN TEN PERCENT OF ITS TOTAL ANNUAL REVENUE IN GRANTS, AS DEFINED IN SECTION 24­77­102 (7), FROM ALL COLORADO STATE AND LOCAL GOVERNMENTS COMBINED. SO LONG AS IT CONSTITUTES AN ENTERPRISE PURSUANT TO THIS SECTION, THE BOARD AND THE AUTHORITY SHALL NOT BE SUBJECT TO ANY OF THE PROVISIONS OF SECTION 20 OF ARTICLE X OF THE STATE CONSTITUTION.

(3)  THE GOVERNING BODY OF THE AUTHORITY SHALL BE A BOARD OF DIRECTORS THAT SHALL CONSIST OF THE FOLLOWING SIXTEEN VOTING MEMBERS:

(a)  THE SECRETARY OF STATE;

(b)  THE EXECUTIVE DIRECTORS OF TWO PRINCIPAL DEPARTMENTS OF THE STATE APPOINTED BY THE GOVERNOR WITH THE CONSENT OF THE SENATE;

(c)  ONE MEMBER REPRESENTING THE JUDICIAL DEPARTMENT OF THE STATE APPOINTED BY THE CHIEF JUSTICE OF THE SUPREME COURT;

(d)  ONE CITIZEN MEMBER WHO EXHIBITS A BACKGROUND IN INFORMATION MANAGEMENT AND TECHNOLOGY APPOINTED BY THE GOVERNOR FOR A TERM OF ONE YEAR. THEREAFTER, THE CITIZEN MEMBER SHALL BE APPOINTED FOR TERMS OF FOUR YEARS EACH;

(e)  SIX MEMBERS FROM THE PRIVATE SECTOR WHO EXHIBIT A BACKGROUND IN INFORMATION MANAGEMENT AND TECHNOLOGY, OF WHICH TWO SHALL BE APPOINTED BY THE GOVERNOR WITH THE CONSENT OF THE SENATE, TWO SHALL BE APPOINTED BY THE PRESIDENT OF THE SENATE, AND TWO SHALL BE APPOINTED BY THE SPEAKER OF THE HOUSE OF REPRESENTATIVES. THE MEMBERS FROM THE PRIVATE SECTOR SHALL SERVE FOR TERMS OF FOUR YEARS EACH; EXCEPT THAT, OF THOSE MEMBERS FIRST APPOINTED TO THE BOARD, THE TERMS OF OFFICE SHALL BE AS FOLLOWS: TWO SHALL BE APPOINTED FOR ONE YEAR, TWO SHALL BE APPOINTED FOR TWO YEARS, AND TWO SHALL BE APPOINTED FOR THREE YEARS.

(f)  FIVE MEMBERS FROM USER ASSOCIATIONS OF A STATEWIDE CHARACTER SELECTED FROM A LIST OF THREE NAMES SUBMITTED BY EACH USER ASSOCIATION, OF WHICH ONE SHALL BE APPOINTED BY THE GOVERNOR WITH THE CONSENT OF THE SENATE, TWO SHALL BE APPOINTED BY THE PRESIDENT OF THE SENATE, AND TWO SHALL BE APPOINTED BY THE SPEAKER OF THE HOUSE OF REPRESENTATIVES. THEREAFTER, THE BOARD SHALL SUBMIT A LIST OF AT LEAST THREE NAMES FOR EACH POSITION BASED ON RECOMMENDATIONS OF USER ASSOCIATIONS. NO TWO MEMBERS APPOINTED PURSUANT TO THIS PARAGRAPH (f) SHALL REPRESENT THE SAME USER ASSOCIATION. THE MEMBERS FROM USER ASSOCIATIONS SHALL SERVE FOR TERMS OF FOUR YEARS EACH; EXCEPT THAT, OF THOSE MEMBERS FIRST APPOINTED TO THE BOARD, THE TERMS OF OFFICE SHALL BE AS FOLLOWS: ONE SHALL BE APPOINTED FOR ONE YEAR, TWO SHALL BE APPOINTED FOR TWO YEARS, AND TWO SHALL BE APPOINTED FOR THREE YEARS.

(4)  THE BOARD MAY APPOINT SUCH ADDITIONAL NONVOTING MEMBERS TO THE BOARD FOR A TERM OF ONE YEAR AS IT DEEMS NECESSARY. ADDITIONAL MEMBERS APPOINTED PURSUANT TO THIS SUBSECTION (4) SHALL NOT BE INCLUDED IN DETERMINING WHETHER A QUORUM IS PRESENT.

(5)  EACH MEMBER SHALL SERVE UNTIL HIS OR HER SUCCESSOR HAS BEEN APPOINTED AND QUALIFIED. A MEMBER MAY BE REAPPOINTED NO MORE THAN ONE TIME. THE PERSON MAKING THE ORIGINAL APPOINTMENT SHALL FILL ANY VACANCY BY APPOINTMENT FOR THE REMAINDER OF AN UNEXPIRED TERM.

(6)  THE BOARD SHALL ANNUALLY ELECT ONE MEMBER FROM THE BOARD AS CHAIRPERSON OF THE AUTHORITY, ANOTHER AS VICE­CHAIRPERSON, AND ANOTHER AS SECRETARY.

(7)  NEITHER THE MEMBERS OF THE AUTHORITY NOR ANY PERSON AUTHORIZED BY THE AUTHORITY TO ACT IN AN OFFICIAL CAPACITY SHALL BE HELD PERSONALLY LIABLE FOR ANY ACT UNDERTAKEN PURSUANT TO THE PROVISIONS OF THIS PART 20.

24­30­2003. Meetings of board ­ quorum ­ expenses. (1)  NINE VOTING MEMBERS OF THE BOARD SHALL CONSTITUTE A QUORUM FOR THE PURPOSE OF CONDUCTING BUSINESS AND EXERCISING ITS POWERS. ACTION MAY BE TAKEN BY THE BOARD UPON THE AFFIRMATIVE VOTE OF AT LEAST EIGHT OF ITS MEMBERS. NO VACANCY IN THE MEMBERSHIP OF THE BOARD SHALL IMPAIR THE RIGHT OF A QUORUM TO EXERCISE ALL THE RIGHTS AND PERFORM ALL THE DUTIES OF THE BOARD.

(2)  EACH MEETING OF THE BOARD FOR ANY PURPOSE WHATSOEVER SHALL BE OPEN TO THE PUBLIC. NOTICE OF MEETINGS SHALL BE AS PROVIDED IN THE BYLAWS OF THE AUTHORITY. RESOLUTIONS NEED NOT BE PUBLISHED OR POSTED, BUT RESOLUTIONS AND ALL PROCEEDINGS AND OTHER ACTS OF THE BOARD SHALL BE A PUBLIC RECORD.

(3) MEMBERS OF THE BOARD SHALL SERVE WITHOUT COMPENSATION BUT SHALL BE REIMBURSED FOR ALL NECESSARY EXPENSES INCURRED IN THE PERFORMANCE OF THEIR DUTIES AND, IN ADDITION, SHALL RECEIVE FIFTY DOLLARS PER DIEM FOR EACH DAY SPENT IN ATTENDANCE AT MEETINGS OF THE BOARD. ANY PAYMENTS TO BOARD MEMBERS PURSUANT TO THIS SUBSECTION (3) SHALL BE PAID FROM FUNDS OF THE AUTHORITY.

24­30­2004. General powers and duties of authority. (1)  IT SHALL BE THE PURPOSE OF THE AUTHORITY TO PERFORM THE FOLLOWING FUNCTIONS:

(a)  DEVELOP AND ANNUALLY UPDATE A STRATEGIC BUSINESS PLAN FOR THE IMPLEMENTATION AND MAINTENANCE OF ELECTRONIC ACCESS FOR MEMBERS OF THE PUBLIC TO PUBLIC INFORMATION OF STATE AGENCIES THROUGH A GATEWAY SERVICE OR NETWORK, OR BOTH;

(b)  PROVIDE ELECTRONIC ACCESS FOR MEMBERS OF THE PUBLIC TO PUBLIC INFORMATION OF STATE AGENCIES THROUGH A GATEWAY SERVICE OR NETWORK, OR BOTH;

(c)  DEVELOP A DIAL­IN GATEWAY OR ELECTRONIC NETWORK, OR BOTH, FOR ACCESS TO PUBLIC INFORMATION;

(d)  PROVIDE APPROPRIATE OVERSIGHT OF ANY NETWORK MANAGER;

(e)  EXPLORE WAYS AND MEANS OF EXPANDING THE AMOUNT AND KIND OF PUBLIC INFORMATION PROVIDED, INCREASING THE UTILITY OF THE PUBLIC INFORMATION PROVIDED AND THE FORM IN WHICH IT IS PROVIDED, EXPANDING THE BASE OF USER ASSOCIATIONS THAT ACCESS SUCH PUBLIC INFORMATION AND, WHERE APPROPRIATE, IMPLEMENTING SUCH EXPANSION OR INCREASE;

(f)  EXPLORE TECHNOLOGICAL WAYS AND MEANS OF IMPROVING CITIZEN AND BUSINESS ACCESS TO PUBLIC INFORMATION AND, WHERE APPROPRIATE, IMPLEMENT SUCH TECHNOLOGICAL IMPROVEMENTS;

(g)  EXPLORE OPTIONS FOR EXPANDING THE NETWORK AND ITS SERVICES TO CITIZENS AND BUSINESSES BY PROVIDING ADD­ON SERVICES SUCH AS ACCESS TO OTHER INFORMATION AND DATA BASES AND BY PROVIDING ELECTRONIC MAIL AND CALENDARING TO SUBSCRIBERS;

(h)  SERVE IN AN ADVISORY CAPACITY TO THE COMMISSION ON INFORMATION MANAGEMENT, THE GENERAL GOVERNMENT COMPUTER CENTER, THE DIVISION OF TELECOMMUNICATIONS, AND THE DIVISION OF STATE ARCHIVES AND PUBLIC RECORDS, AND OTHER STATE AGENCIES REGARDING THE PROVISION OF DATA TO THE CITIZENS AND BUSINESSES OF COLORADO;

(i)  SEEK ADVICE FROM THE GENERAL PUBLIC, SUBSCRIBERS, PROFESSIONAL ASSOCIATIONS, ACADEMIC GROUPS AND INSTITUTIONS, AND INDIVIDUALS WITH KNOWLEDGE OF AND INTEREST IN AREAS OF NETWORKING, ELECTRONIC MAIL, PUBLIC INFORMATION ACCESS, GATEWAY SERVICES, ADD­ON SERVICES, AND ELECTRONIC FILING OF INFORMATION;

(j)  DEVELOP CHARGES FOR THE SERVICES PROVIDED TO SUBSCRIBERS, WHICH INCLUDE THE ACTUAL COSTS OF PROVIDING SUCH SERVICES; AND

(k)  NEGOTIATE AND ENTER INTO CONTRACTS FOR PROFESSIONAL CONSULTING, RESEARCH, AND OTHER SERVICES.

24­30­2005. User associations ­ services agreements ­ fees. THE AUTHORITY AND A USER ASSOCIATION MAY NEGOTIATE A WRITTEN AGREEMENT THAT ALLOWS THE USER ASSOCIATION ACCESS TO OR UTILIZATION OF THE GATEWAY SERVICE OR NETWORK FOR A SPECIFIED AMOUNT.

24­30­2006. Public agencies ­ cooperation. ALL PUBLIC AGENCIES SHALL COOPERATE WITH THE AUTHORITY AND SHALL MAKE AVAILABLE TO THE AUTHORITY ACCESS TO PUBLIC INFORMATION UPON TERMS MUTUALLY AGREED UPON BY THE AUTHORITY AND ANY SUCH PUBLIC AGENCY. THE PUBLIC INFORMATION TO BE PROVIDED BY ANY PUBLIC AGENCY SHALL BE SPECIFIED PURSUANT TO CONTRACT BETWEEN THE AUTHORITY AND SUCH AGENCY IN ACCORDANCE WITH THE "PROCUREMENT CODE", ARTICLES 101 TO 112 OF THIS TITLE. PUBLIC AGENCIES MAY RECOVER REASONABLE COSTS INCURRED BY PROVIDING SUCH ACCESS TO THE AUTHORITY, WHICH COSTS SHALL BE SPECIFIED IN THE CONTRACT BETWEEN THE AUTHORITY AND SUCH AGENCY.

24­30­2007. Network manager ­ duties ­ contracts. (1)  THE AUTHORITY SHALL HIRE A NETWORK MANAGER THAT MAY BE EITHER AN INDIVIDUAL OR A BUSINESS ENTITY. THE AUTHORITY SHALL ESTABLISH CRITERIA AND QUALIFICATIONS IN CONSULTATION WITH THE COMMISSION ON INFORMATION MANAGEMENT FOR THE NETWORK MANAGER AND ITS DUTIES. THE AUTHORITY MAY NEGOTIATE AND ENTER INTO AN EMPLOYMENT AGREEMENT WITH THE NETWORK MANAGER SELECTED WHICH MAY PROVIDE FOR SUCH DUTIES, RESPONSIBILITIES, AND COMPENSATION INCLUDING BUT NOT LIMITED TO THE DUTIES AND RESPONSIBILITIES SET FORTH IN SUBSECTION (2) OF THIS SECTION.

(2)  THE NETWORK MANAGER SHALL:

(a)  DIRECT AND SUPERVISE THE DAY­TO­DAY OPERATIONS AND EXPANSION OF THE GATEWAY AND NETWORK, INCLUDING THE INITIAL PHASE OF OPERATIONS NECESSARY TO MAKE SUCH GATEWAY AND NETWORK OPERATIONAL;

(b)  EMPLOY, SUPERVISE, AND TERMINATE EMPLOYEES OF THE COLORADO INFORMATION NETWORK AS AUTHORIZED BY THE AUTHORITY;

(c)  ATTEND MEETINGS OF THE AUTHORITY;

(d)  KEEP A RECORD OF ALL GATEWAY, NETWORK, AND RELATED OPERATIONS OF THE BOARD, WHICH RECORDS SHALL BE THE PROPERTY OF THE AUTHORITY, AND SHALL MAINTAIN AND BE A CUSTODIAN OF ALL FINANCIAL AND OPERATIONAL RECORDS, DOCUMENTS, AND PAPERS FILED WITH THE AUTHORITY; AND

(e)  UPDATE AND REVISE THE BUSINESS PLAN OF THE AUTHORITY YEARLY, IN CONSULTATION WITH AND UNDER THE DIRECTION OF THE BOARD.

24­30­2008. Financing. (1)  THE AUTHORITY SHALL FUND ITS OPERATIONS FROM:

(a)   REVENUES GENERATED FROM SUBSCRIBERS;

(b)  REVENUES GENERATED FROM WRITTEN AGREEMENTS WITH USER ASSOCIATIONS PURSUANT TO SECTION 24­30­2005;

(c)  FUNDS DERIVED FROM THE ISSUANCE AND SALE OF BONDS;

(d)  FUNDS LOANED TO THE AUTHORITY BY ANY PERSON OR ENTITY;

(e)  FEDERAL FUNDS GRANTED TO THE AUTHORITY;

(f)  Moneys, goods, or in­kind services donated from private sources.

24­30­2009. Bonds and notes. (1)  THE AUTHORITY MAY, FROM TIME TO TIME, ISSUE BONDS AND NOTES FOR ANY OF ITS CORPORATE PURPOSES. THE BONDS AND NOTES SHALL BE ISSUED PURSUANT TO RESOLUTION OF THE BOARD AND SHALL BE PAYABLE SOLELY OUT OF ALL OR A SPECIFIED PORTION OF THE REVENUES OF THE AUTHORITY AS DESIGNATED BY THE BOARD.

(2)  BONDS OF THE AUTHORITY, AS PROVIDED IN THE RESOLUTION OF THE AUTHORITY UNDER WHICH THE BONDS ARE AUTHORIZED OR AS PROVIDED IN A TRUST INDENTURE BETWEEN THE AUTHORITY AND ANY COMMERCIAL OR TRUST COMPANY HAVING FULL TRUST POWERS, MAY:

(a)  BE EXECUTED AND DELIVERED BY THE AUTHORITY IN THE FORM, IN DENOMINATIONS, UPON THE TERMS AND MATURITIES, AND AT THE TIMES ESTABLISHED BY THE BOARD;

(b)  BE SUBJECT TO OPTIONAL OR MANDATORY REDEMPTION PRIOR TO MATURITY WITH OR WITHOUT A PREMIUM;

(c)  BE IN FULLY REGISTERED FORM OR BEARER FORM REGISTERABLE AS TO PRINCIPAL OR INTEREST OR BOTH;

(d)  BEAR SUCH CONVERSION PRIVILEGES AND BE PAYABLE IN SUCH INSTALLMENTS AND AT SUCH TIMES NOT EXCEEDING FORTY YEARS FROM THE DATE OF ISSUANCE AS ESTABLISHED BY THE BOARD;

(e)  BE PAYABLE AT SUCH PLACE OR PLACES WHETHER WITHIN OR WITHOUT THE STATE AS ESTABLISHED BY THE BOARD;

(f)  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 AUTHORITY OR ITS AGENTS WITHOUT REGARD TO ANY INTEREST RATE LIMITATION APPEARING IN ANY OTHER LAW OF THE STATE;

(g)  BE SUBJECT TO PURCHASE AT THE OPTION OF THE HOLDER OR THE BOARD;

(h)  BE EVIDENCED IN THE MANNER ESTABLISHED BY THE BOARD, AND EXECUTED BY THE OFFICERS OF THE AUTHORITY, 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 AUTHORITY OR OF AN AGENT AUTHENTICATING THE SAME;

(i)  BE IN THE FORM OF COUPON BONDS THAT HAVE ATTACHED INTEREST COUPONS BEARING A MANUAL OF A FACSIMILE SIGNATURE OF AN OFFICER OF THE AUTHORITY; AND

(j)  CONTAIN ANY OTHER PROVISIONS NOT INCONSISTENT WITH THIS ARTICLE.

(3)  THE BONDS MAY BE SOLD AT PUBLIC OR PRIVATE SALE AT THE PRICE OR PRICES, IN THE MANNER, AND AT THE TIMES AS DETERMINED BY THE BOARD, 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 AUTHORITY. ANY OUTSTANDING BONDS MAY BE REFUNDED BY THE AUTHORITY PURSUANT TO ARTICLE 56 OF TITLE 11, C.R.S. ALL BONDS AND ANY INTEREST COUPONS APPLICABLE THERETO ARE DECLARED TO BE NEGOTIABLE INSTRUMENTS.

(4)  THE RESOLUTION OR TRUST INDENTURE AUTHORIZING THE ISSUANCE OF THE BONDS OR NOTES MAY PLEDGE ALL OR A PORTION OF THE PROPERTY OR REVENUES OF THE AUTHORITY, MAY CONTAIN SUCH PROVISIONS FOR PROTECTING AND ENFORCING THE RIGHTS AND REMEDIES OF HOLDERS OF ANY OF THE BONDS OR NOTES AS THE AUTHORITY DEEMS APPROPRIATE, MAY SET FORTH THE RIGHTS AND REMEDIES OF THE HOLDERS OF ANY OF THE BONDS OR NOTES, AND MAY CONTAIN PROVISIONS THAT THE AUTHORITY DEEMS APPROPRIATE FOR THE SECURITY OF THE HOLDERS OF THE BONDS OR NOTES, 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 OR NOTES, INCLUDING THE REDEMPTION PRICE OR THE PURCHASE PRICE.

(5)  ANY PLEDGE OF REVENUES OR PROPERTY MADE BY THE AUTHORITY OR BY ANY PERSON OR GOVERNMENTAL UNIT WITH WHICH THE AUTHORITY CONTRACTS SHALL BE VALID AND BINDING FROM THE TIME THE PLEDGE IS MADE. THE REVENUES OR PROPERTY SO PLEDGED SHALL IMMEDIATELY BE SUBJECT TO THE LIEN OF SUCH PLEDGE WITHOUT ANY PHYSICAL DELIVERY OR FURTHER ACT, AND THE LIEN OF SUCH 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 PARTY HAS NOTICE OF SUCH LIEN. THE INSTRUMENT BY WHICH THE PLEDGE IS CREATED NEED NOT BE RECORDED OR FILED.

(6)  NEITHER THE MEMBERS OF THE BOARD, EMPLOYEES OF THE AUTHORITY, NOR ANY PERSON EXECUTING THE BONDS SHALL BE LIABLE PERSONALLY ON THE BONDS OR NOTES OR SUBJECT TO ANY PERSONAL LIABILITY OR ACCOUNTABILITY BY REASON OF THE ISSUANCE THEREOF.

(7)  BONDS AND NOTES ISSUED BY THE AUTHORITY SHALL NOT CONSTITUTE OR BECOME AN INDEBTEDNESS, A DEBT, OR A LIABILITY OF THE STATE. THE BONDS SHALL CONTAIN ON THE FACE THEREOF A STATEMENT TO SUCH EFFECT.

(8)  THE AUTHORITY MAY PURCHASE ITS BONDS OR NOTES OUT OF ANY AVAILABLE FUNDS AND MAY HOLD, PLEDGE, CANCEL, OR RESELL SUCH BONDS AND NOTES SUBJECT TO AND IN ACCORDANCE WITH AGREEMENTS WITH THE HOLDERS THEREOF.

(9)  ANY BONDS, NOTES, OR OTHER SECURITIES ISSUED PURSUANT TO THIS SECTION AND THE INCOME THEREFROM, INCLUDING ANY PROFIT FROM THE SALE THEREOF, SHALL BE EXEMPT FROM ALL TAXATION OF THE STATE OR ANY AGENCY, POLITICAL SUBDIVISION, OR INSTRUMENTALITY OF THE STATE.

24­30­2010. Agreement of the state not to limit or alter rights of obligees. THE STATE HEREBY PLEDGES AND AGREES WITH THE HOLDERS OF ANY BONDS OR NOTES ISSUED UNDER THIS ARTICLE AND WITH THOSE PARTIES WHO ENTER INTO CONTRACT WITH THE AUTHORITY THAT THE STATE WILL NOT LIMIT, ALTER, RESTRICT, OR IMPAIR THE RIGHTS VESTED IN THE AUTHORITY OR THE RIGHTS OR OBLIGATIONS OF ANY PERSON WITH WHICH IT CONTRACTS TO FULFILL THE TERMS OF ANY AGREEMENTS MADE PURSUANT TO THIS ARTICLE. THE STATE FURTHER AGREES THAT IT WILL NOT IN ANY WAY IMPAIR THE RIGHTS OR REMEDIES OF THE HOLDERS OF ANY BONDS OR NOTES OF THE AUTHORITY UNTIL SUCH BONDS OR NOTES HAVE BEEN PAID OR UNTIL ADEQUATE PROVISION FOR PAYMENT HAS BEEN MADE. THE AUTHORITY MAY INCLUDE THIS PROVISION AND UNDERTAKING FOR THE STATE IN SUCH BONDS OR NOTES.

24­30­2011. Investments. THE AUTHORITY MAY INVEST OR DEPOSIT ANY FUNDS IN THE MANNER PROVIDED BY PART 6 OF ARTICLE 75 OF THIS TITLE. IN ADDITION, THE AUTHORITY MAY DIRECT A CORPORATE TRUSTEE THAT HOLDS FUNDS OF THE AUTHORITY TO INVEST OR DEPOSIT SUCH FUNDS IN INVESTMENTS OR DEPOSITS OTHER THAN THOSE SPECIFIED BY SUCH PART 6 IF THE BOARD DETERMINES, BY RESOLUTION, THAT SUCH INVESTMENT OR DEPOSIT MEETS THE STANDARD ESTABLISHED IN SECTION 15­1­304, C.R.S., AND THE INCOME IS AT LEAST COMPARABLE TO INCOME AVAILABLE ON INVESTMENTS OR DEPOSITS SPECIFIED BY SUCH PART 6.

24­30­2012. Bonds eligible for investment. ALL BANKS, TRUST COMPANIES, SAVINGS AND LOAN ASSOCIATIONS, INSURANCE COMPANIES, EXECUTORS, ADMINISTRATORS, GUARDIAN TRUSTEES, AND OTHER FIDUCIARIES MAY LEGALLY INVEST ANY MONEYS WITHIN THEIR CONTROL IN ANY BONDS ISSUED UNDER THIS ARTICLE. PUBLIC ENTITIES, AS DEFINED IN SECTION 24­75­601 (1), MAY INVEST PUBLIC FUNDS IN SUCH BONDS ONLY IF SUCH BONDS SATISFY THE INVESTMENT REQUIREMENTS ESTABLISHED IN PART 6 OF ARTICLE 75 OF THIS TITLE.

24­30­2013. Proceeds as trust funds. ALL MONEYS RECEIVED PURSUANT TO THIS PART 20 WHETHER AS PROCEEDS FROM THE SALE OF BONDS, NOTES, OR OTHER OBLIGATIONS OR AS REVENUES OR RECEIPTS SHALL BE DEEMED TO BE TRUST FUNDS TO BE HELD AND APPLIED SOLELY AS PROVIDED IN THIS ARTICLE. ANY OFFICER, BANK, OR TRUST COMPANY WITH WHICH SUCH MONEYS ARE DEPOSITED SHALL ACT AS TRUSTEE OF SUCH MONEYS AND SHALL HOLD AND APPLY THE SAME FOR THE PURPOSES OF THIS ARTICLE, SUBJECT TO SUCH REGULATIONS AS THE AUTHORITY AND THE RESOLUTION AUTHORIZING THE BONDS, NOTES, OR OTHER OBLIGATIONS OF ANY ISSUE OR THE TRUST AGREEMENT SECURING SUCH OBLIGATIONS PROVIDES.

SECTION 2.  24­77­102 (15) (b), Colorado Revised Statutes, 1988 Repl. Vol., as amended, is amended BY THE ADDITION OF A NEW SUBPARAGRAPH to read:

24­77­102.  Definitions. As used in this article, unless the context otherwise requires:

(15) (b)  "Special purpose authority" includes, but is not limited to:

(XII)  THE COLORADO INFORMATION NETWORK AUTHORITY CREATED PURSUANT TO SECTION 24­30­2002, C.R.S.

SECTION 3.   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.