BY SENATORS Coffman, Wham, Arnold, Lamborn, Schroeder, and Tebedo;
also REPRESENTATIVES Pfiffner, McPherson, Paschall,
Tucker, and Young.
CONCERNING THE ELIMINATION OF THE EXPRESS AUTHORITY
OF THE BOARD OF DIRECTORS OF THE METROPOLITAN FOOTBALL STADIUM
DISTRICT TO WAIVE ANY REQUIREMENT THAT A CONTRACTOR PROVIDE A
PERFORMANCE BOND PRIOR TO THE CONTRACTOR COMMENCING CONSTRUCTION
ON A STADIUM.
Be it enacted by the General Assembly of the State
of Colorado:
SECTION 1. Repeal.
3215106 (2) (c), Colorado Revised Statutes,
is repealed as follows:
3215106. Board of directors
powers and duties. (2) After
the board has completed the review and negotiations set forth
in paragraphs (a) to (e) of subsection (1) of this section and
if the board has received notice from the secretary of state stating
that a valid petition has been filed and verified and has adopted
a resolution pursuant to paragraph (f) of subsection (1) of this
section, in addition to any powers granted to the board in subsection
(1) of this section or in this article, the board shall have the
following powers and duties:
(c) To waive
any requirement that a contractor providing materials and labor
for construction or renovation of a stadium provide a performance
bond prior to commencing construction if, in the opinion of the
board, the contractor provides security in another form in the
amount necessary to cover the obligations of the contractor under
the terms of the construction or renovation contract;
SECTION 2. Effective date. This act shall take effect at 12:01 a.m. on the day following the expiration of the ninetyday period after final adjournment of the general assembly that is allowed for submitting a referendum petition pursuant to article V, section 1 (3) of the state constitution; except that, if a referendum petition is filed against this act or an item, section, or part of this act within such period, then the act, item, section, or part, if approved by the people, shall take effect on the date of the official declaration of the vote thereon by proclamation of the governor.
____________________________ ____________________________
Tom Norton Charles E. Berry
PRESIDENT OF SPEAKER OF THE HOUSE
THE SENATE OF REPRESENTATIVES
____________________________ ____________________________
Patricia K. Dicks Judith M. Rodrigue
ASSISTANT SECRETARY OF CHIEF CLERK OF THE HOUSE
THE SENATE OF REPRESENTATIVES
APPROVED________________________________________
_________________________________________
Roy Romer
GOVERNOR OF THE STATE
OF COLORADO