1999
BY SENATORS Phillips, Hernandez, Pascoe, and Rupert;
also REPRESENTATIVES Witwer, Coleman, and Plant.
Concerning authorization for a county to finance the acquisition of real property for public recreational use by entering into a lease purchase agreement.
Be it enacted by the General Assembly of the State of Colorado:
SECTION 1. 30-11-104.1 (1) and (2), Colorado Revised Statutes, are amended to read:
30-11-104.1. Lease purchase agreements. (1) In order to provide for financing of a public park, a public trail, a public golf course, or public open space, or a courthouse, jail, or other county building or equipment used, or to be used, for governmental purposes, any county is authorized to enter into lease purchase agreements.
(2) Such agreements may include an option to purchase, transfer, and acquire title to such property and the improvements thereon, if any, within a period not exceeding the useful life of such property and any improvements, but in no case exceeding thirty years.
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.
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Ray Powers Russell George
PRESIDENT OF SPEAKER OF THE HOUSE
THE SENATE OF REPRESENTATIVES
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Patricia K. Dicks Judith M. Rodrigue
SECRETARY OF CHIEF CLERK OF THE HOUSE
THE SENATE OF REPRESENTATIVES
APPROVED________________________________________
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Bill Owens
GOVERNOR OF THE STATE OF COLORADO