Amendments for HB24-1154
House Journal, March 15
4 Amendment No. 1, by Representative McLachlan:
5
6 Amend printed bill, page 2, before line 9 insert:
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5 8 "SECTION 2. In Colorado Revised Statutes, add 22-30.5-404.
9 as follows:
10 22-30.5-404.5. Discretionary inclusion of institute charter
11 schools in district bond elections - authority - security - legislative
12 intent. (1) IN ENACTING THIS SECTION, IT IS THE INTENT OF THE GENERAL
13 ASSEMBLY TO RESPECT THE PRINCIPLE OF SCHOOL DISTRICT LOCAL
14 CONTROL AND TO PERMIT, BUT NOT REQUIRE, SCHOOL DISTRICTS TO ACT
15 IN THEIR SOLE DISCRETION AND BEST INTEREST BY USING THEIR BEST
16 JUDGMENT IN MANAGING THE RELATIONSHIPS, IF ANY, THEY MAINTAIN
17 WITH AN INSTITUTE CHARTER SCHOOL LOCATED WITHIN THE GEOGRAPHIC
18 BOUNDARIES OF THE SCHOOL DISTRICT.
19 (2) A SCHOOL DISTRICT MAY, IN ITS SOLE DISCRETION, ENGAGE IN
20 DISCUSSIONS WITH AN INSTITUTE CHARTER SCHOOL LOCATED WITHIN THE
21 GEOGRAPHIC BOUNDARIES OF THE SCHOOL DISTRICT CONCERNING THE
22 CAPITAL CONSTRUCTION NEEDS OF THE INSTITUTE CHARTER SCHOOL.
23 (3) IN ORDER FOR A SCHOOL DISTRICT TO CONSIDER, IN ITS SOLE
24 DISCRETION, WHETHER TO INCLUDE THE CAPITAL CONSTRUCTION NEEDS
25 OF AN INSTITUTE CHARTER SCHOOL LOCATED WITHIN THE GEOGRAPHIC
26 BOUNDARIES OF THE SCHOOL DISTRICT IN A BALLOT QUESTION PURSUANT
27 TO SUBSECTION (4) OF THIS SECTION, AN INSTITUTE CHARTER SCHOOL
28 MUST SUBMIT A CAPITAL CONSTRUCTION PLAN TO THE BOARD OF
29 EDUCATION IN WHICH IT IS GEOGRAPHICALLY LOCATED. THE CAPITAL
30 CONSTRUCTION PLAN MUST INCLUDE, BUT IS NOT LIMITED TO:
31 (a) REASONS WHY THE INSTITUTE CHARTER SCHOOL CAPITAL
32 CONSTRUCTION MUST BE FINANCED BY BONDED INDEBTEDNESS;
33 (b) A DESCRIPTION OF THE CAPITAL CONSTRUCTION THAT WILL BE
34 FINANCED BY BONDED INDEBTEDNESS;
35 (c) A DESCRIPTION OF THE ARCHITECTURAL, FUNCTIONAL, AND
36 CONSTRUCTION STANDARDS THAT MEET APPLICABLE STATE BUILDING
37 CODE REQUIREMENTS AND THAT WILL BE APPLIED TO EACH FACILITY
38 SUBJECT TO THE CAPITAL CONSTRUCTION PROJECT;
39 (d) AN ESTIMATE OF THE TOTAL COSTS FOR COMPLETING THE
40 CAPITAL CONSTRUCTION THAT WILL BE FINANCED BY THE BONDED
41 INDEBTEDNESS AND, IF ANY MONEY OTHER THAN THE BONDED
42 INDEBTEDNESS PROCEEDS, INCLUDING INVESTMENTS AND INTEREST
43 EARNINGS, WILL BE USED TO FINANCE THE CAPITAL CONSTRUCTION, A
44 BREAKDOWN OF THE MONEY THAT WILL BE USED TO FINANCE THE CAPITAL
45 CONSTRUCTION;
46 (e) AN ESTIMATE OF THE AMOUNT OF TIME NEEDED TO COMPLETE
47 THE CAPITAL CONSTRUCTION PROJECT;
48 (f) A STATEMENT ADDRESSING WHETHER THE CONSTRUCTION OR
49 RENOVATION, PAYMENT OF OVERRUN COSTS, AND OTHER CAPITAL
50 CONSTRUCTION PROJECT ISSUES WILL BE MANAGED BY THE INSTITUTE
51 CHARTER SCHOOL OR THE SCHOOL DISTRICT AND WHETHER COSTS FOR
52 PROJECT MANAGEMENT WILL BE NEGOTIATED BETWEEN THE INSTITUTE
53 CHARTER SCHOOL AND THE SCHOOL DISTRICT;
54 (g) REASONS WHY REVENUE SOURCES OTHER THAN BONDED
55 INDEBTEDNESS ARE INADEQUATE TO FULLY FINANCE THE INSTITUTE
56 CHARTER SCHOOL CAPITAL CONSTRUCTION; AND
1 (h) THE INSTITUTE CHARTER SCHOOL'S PROPOSED METHOD FOR
2 DISBURSEMENT OF ITS SHARE OF THE BONDED INDEBTEDNESS PROCEEDS.
3 (4) A SCHOOL DISTRICT MAY, IN ITS SOLE DISCRETION, INCLUDE
4 THE CAPITAL CONSTRUCTION NEEDS OF AN INSTITUTE CHARTER SCHOOL AS
5 PART OF A BALLOT QUESTION FOR APPROVAL OF BONDED INDEBTEDNESS
6 TO BE SUBMITTED BY THE SCHOOL DISTRICT TO THE VOTERS OF THE
7 DISTRICT.
8 (5) WHEN A SCHOOL DISTRICT, IN ITS SOLE DISCRETION, WANTS TO
9 INCLUDE THE CAPITAL CONSTRUCTION NEEDS OF AN INSTITUTE CHARTER
10 SCHOOL IN A BALLOT QUESTION, THE BOARD OF EDUCATION MUST, PRIOR
11 TO SUBMITTING THE BALLOT QUESTION TO THE VOTERS OF THE SCHOOL
12 DISTRICT, ENTER INTO A WRITTEN AGREEMENT WITH THE INSTITUTE
13 CHARTER SCHOOL THAT INCLUDES:
14 (a) THE PROCESS BY WHICH INVESTMENT AND INTEREST EARNINGS
15 ON BOND INDEBTEDNESS PROCEEDS ARE DISTRIBUTED, AND THE PROCESS
16 BY WHICH THE INVESTMENT AND INTEREST EARNINGS PROCEEDS AND THE
17 BONDED INDEBTEDNESS PROCEEDS ARE RELEASED TO THE INSTITUTE
18 CHARTER SCHOOL, INCLUDING FOR DESIGN, PRE-CONSTRUCTION, AND
19 PROGRESS PAYMENTS;
20 (b) THE ALLOCATION OF INVESTMENT AND INTEREST EARNINGS ON
21 THE BONDED INDEBTEDNESS PROCEEDS, AND THE ALLOCATION OF THE
22 COST OF SUBMISSION OF THE BOND QUESTION TO THE VOTERS, BETWEEN
23 THE SCHOOL DISTRICT AND THE INSTITUTE CHARTER SCHOOL;
24 (c) ALLOCATION OF THE COSTS TO SUBMIT THE BALLOT QUESTION,
25 WHICH MUST BE BORNE BY BOTH THE SCHOOL DISTRICT AND THE
26 INSTITUTE CHARTER SCHOOL IN PROPORTION TO THE RESPECTIVE PORTIONS
27 OF THE TOTAL BONDED INDEBTEDNESS PROCEEDS THAT ARE TO BE
28 RECEIVED, UNLESS THE SCHOOL DISTRICT AND THE INSTITUTE CHARTER
29 SCHOOL AGREE TO A DIFFERENT COST-SHARING AGREEMENT;
30 (d) AN AGREEMENT THAT IF THE INSTITUTE CHARTER SCHOOL'S
31 CHARTER IS REVOKED OR NOT RENEWED, IF THE INSTITUTE CHARTER
32 SCHOOL BECOMES INSOLVENT AND CAN NO LONGER OPERATE AS AN
33 INSTITUTE CHARTER SCHOOL, OR IF THE INSTITUTE CHARTER SCHOOL
34 OTHERWISE CEASES TO OPERATE, THE SCHOOL DISTRICT HAS PRIORITY IN
35 RECOVERING DEBT OVER ALL OTHER DEBTORS FOR COSTS AND PAYMENTS
36 OF ALL OTHER DEBTS SECURED BY THE CAPITAL CONSTRUCTION AND THAT
37 THE OWNERSHIP OF ANY CAPITAL CONSTRUCTION, LAND, OR FACILITIES
38 FINANCED BY THE BONDED INDEBTEDNESS PROCEEDS AUTOMATICALLY
39 REVERTS TO THE SCHOOL DISTRICT. THE SCHOOL DISTRICT MAY RELEASE
40 ITS INTEREST IN PROPERTY, IN ITS SOLE DISCRETION, AFTER THE BOND
41 INDEBTEDNESS PROCEEDS HAVE BEEN REDEEMED.
42 (e) AN AGREEMENT THAT THE INSTITUTE CHARTER SCHOOL SHALL
43 NOT ENCUMBER ANY CAPITAL CONSTRUCTION FINANCED BY BOND
44 INDEBTEDNESS WITH ANY ADDITIONAL DEBT WITHOUT THE EXPRESS
45 APPROVAL OF THE SCHOOL DISTRICT. IF THE SCHOOL DISTRICT DENIES
46 APPROVAL, THE SCHOOL DISTRICT SHALL PROVIDE WRITTEN REASONS FOR
47 THE DENIAL.".
48
49 Renumber succeeding sections accordingly.
50
51 Page 3, line 6, strike "OR A MILL LEVY ELECTION" and substitute
52 "CONDUCTED PURSUANT TO SECTION 22-30.5-404.5.".
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54 Page 3, strike lines 7 through 17.
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1 As amended, ordered engrossed and placed on the Calendar for Third
2 Reading and Final Passage.
3