HOUSE BILL 99-1055

BY REPRESENTATIVES Taylor, Pfiffner, Leyba, Chavez, Coleman, Hoppe, Lawrence, Nunez, Spradley, Tapia, and Vigil;

also SENATORS Reeves and Linkhart.

SECTION 1.  35-65-406, Colorado Revised Statutes, is amended to read:

35-65-406.  Annual reports. (1)  The Colorado state fair authority and its board of commissioners shall make an annual report by January 1 October 31 of each year to the governor, the general assembly, the joint budget committee, and the legislative audit committee. which The report shall include a summary of the authority's activities for the previous year, the following information for the fiscal year ending in the year the annual report is made and for the fiscal year preceding such fiscal year prepared in a comparison format and in accordance with generally accepted accounting principles:

(a)  A statement of revenues and expenses resulting from:

(I)  Operation of the annual Colorado state fair and industrial exposition events; and

(II)  Operation of events on any of the facilities at the Colorado state fair and exposition that are not annual Colorado state fair and industrial exposition events;

(b)  A statement of the current balance of the Colorado state fair authority cash fund, expenses of the authority financial position of the Colorado state fair and industrial exposition as of June 30 of each such fiscal year;

(c)  A statement of outstanding revenue bonds issued by the board, and including evidence of compliance with applicable bond covenants;

(d)  A statement of cash flow for the Colorado state fair and industrial exposition;

(e)  A summary of attendance for the Colorado state fair and industrial exposition;

(f)  The number of annual Colorado state fair and industrial exposition events and the number of events operated on any of the facilities of the Colorado state fair and industrial exposition that were not Colorado state fair and industrial exposition events; and

(g)  A statement of revenues and expenses resulting from the operation of the annual Colorado state fair and industrial exposition for the most recent period ending September 30, including a summary of attendance.

(2)  The annual report submitted pursuant to this section shall include any recommendations for change in the statutes that the board or manager deems necessary or desirable, including but not limited to any change to part 14 of article 30 of title 24, C.R.S., and the "Procurement Code", articles 101 to 112 of title 24, C.R.S., necessary or desirable due to the unique nature of the Colorado state fair and industrial exposition.

(3)  The report shall be public.

SECTION 2.  Safety clause.  The general assembly hereby finds, determines, and declares that this act is necessary for the immediate preservation of the public peace, health, and safety.

____________________________ ____________________________

Russell George Ray Powers

SPEAKER OF THE HOUSE PRESIDENT OF

OF REPRESENTATIVES THE SENATE

____________________________ ____________________________

Judith M. Rodrigue Patricia K. Dicks

CHIEF CLERK OF THE HOUSE SECRETARY OF

OF REPRESENTATIVES THE SENATE

APPROVED________________________________________

_________________________________________

Bill Owens

GOVERNOR OF THE STATE OF COLORADO