Amendments for HB22-1363

House Journal, April 27
14 HB22-1363 be amended as follows, and as so amended, be referred to
15 the Committee of the Whole with favorable
16 recommendation:
17
18 Amend printed bill, page 4, strike lines 2 through 27.
19
20 Strikes pages 5 through 9.
21
22 Page 10, strike lines 1 through 5.
23
24 Renumber succeeding sections accordingly.
25
26 Page 10, strike lines 16 through 18 and substitute "SERVICE PLAN FOR A
27 METROPOLITAN DISTRICT THAT PERMITS THE PURCHASE OF DISTRICT DEBT
28 BY ANY ENTITY WITH".
29
30 Page 10, line 20, strike "24-18-109; OR" and substitute "24-18-109.".
31
32 Page 10, strike lines 21 through 27.
33
34 Strike pages 11 through 13.
35
36 Page 14, strike lines 1 through 18.
37
38 Renumber succeeding sections accordingly.
39
40 Page 15, strike lines 2 through 27.
41
42 Strike page 16.
43
44 Page 17, strike lines 1 through 13.
45
46 Renumber succeeding sections accordingly.
47
48 Page 17, strike line 21 and substitute:
49
50 "SECTION 4. Act subject to petition - effective date -
51 applicability. (1) This act".
52
53 Page 18, after line 2 insert:
54
1 "(2) This act applies to acts undertaken on or after the applicable
2 effective date of this act.".
3
4

House Journal, April 28
31 Amendment recommended by Transportation & Local Government
32 Report, dated April 26, 2022, and placed in member’s bill file; Report
33 also printed in House Journal, April 27, 2022.
34
35 Laid Over until Friday, April 29, 2022.
36

House Journal, April 29
14 Amendment No. 1, Transportation & Local Government Report, dated
15 April 26, 2022, and placed in member’s bill file; Report also printed in
16 House Journal, April 27, 2022.
17
18 Amendment No. 2, by Representative Weissman.
19
20 Amend the Transportation & Local Government Committee Report, dated
21 April 26, 2022, page 1, after line 4, insert:
22
23 "Page 10 of the printed bill, line 8, strike "Special" and substitute
24 "Metropolitan".
25
26 Page 10 of the printed bill, line 10, strike "SPECIAL" and substitute
27 "METROPOLITAN".
28
29 Page 10 of the printed bill, line 13, strike "SPECIAL" and substitute
30 "METROPOLITAN".".
31
32 Page 1 of the Committee Report, after line 12, insert:
33
34 "Page 15 of the printed bill, line 1, after "AGENT."add "THE
35 REQUIREMENTS OF THS SUBSECTION (5) DO NOT APPLY TO DEBT ACQUIRED
36 INDIRECTLY THROUGH AN INVESTMENT FUND IF THE MEMBER HAS NO
37 INPUT INTO OR CONTROL OVER THE INDIVIDUAL SECURITIES THAT THE
38 FUND PURCHASES.".
39
40 Amendment No. 3, by Representative McKean.
41
42 Amend printed bill, page 16, after line 9, insert:
43
44 "SECTION 13. In Colorado Revised Statutes, 32-1-1107, add (7)
45 as follows:
46 32-1-1101. Common financial powers. (7) (a) PRIOR TO ISSUING
47 DEBT TO A DIRECTOR OF A METROPOLITAN DISTRICT OR TO AN ENTITY
48 WITH RESPECT TO WHICH A DIRECTOR OF A METROPOLITAN DISTRICT MUST
49 MAKE DISCLOSURE UNDER SECTION 24-18-109, THE BOARD OF THE
50 METROPOLITAN DISTRICT MUST RECEIVE A STATEMENT OF A REGISTERED
51 MUNICIPAL ADVISOR CERTIFYING THAT THE INTEREST RATE OF THE DEBT
52 DOES NOT EXCEED THE LESSER OF:
53 (I) THE INTEREST RATE ALLOWED UNDER SUBSECTION (7)(b) OF
54 THIS SECTION; OR
55
1 (II) THE CURRENT MARKET INTEREST RATE FOR THE DEBT BASED
2 ON CRITERIA DETERMINED BY THE MUNICIPAL ADVISOR, INCLUDING THE
3 RESTRUCTURE OF THE DEBT, THE MATURITIES, REDEMPTION PROVISIONS,
4 THE REVENUES PLEDGED FOR REPAYMENT, AND OTHER TERMS OF THE
5 DEBT, CONSIDERING THE FINANCIAL CIRCUMSTANCES OF THE
6 METROPOLITAN DISTRICT.
7 (b) THE INTEREST RATE ON DEBT ISSUED BY A METROPOLITAN
8 DISTRICT TO A DIRECTOR OF A METROPOLITAN DISTRICT OR TO AN ENTITY
9 WITH RESPECT TO WHICH A DIRECTOR OF A METROPOLITAN DISTRICT MUST
10 MAKE DISCLOSURE UNDER SECTION 24-18-109 MUST NOT EXCEED THE
11 MUNICIPAL MARKET DATA "AAA" GENERAL OBLIGATION, THIRTY-YEAR
12 CONSTANT MATURITY, OR SUCCESSOR INDEX IF REPLACED, PLUS FOUR
13 HUNDRED POINTS, AS OF THE SEVENTH BUSINESS DAY PRIOR TO THE DATE
14 OF ISSUANCE OF THAT DEBT AND MUST HAVE A MAXIMUM FINAL MATURITY
15 OF NOT MORE THAN FORTY YEARS FROM THE DATE OF ISSUANCE.
16 (c) AS USED IN THIS SUBSECTION (7), "REGISTERED MUNICIPAL
17 ADVISOR" MEANS A "MUNICIPAL ADVISOR", AS THAT TERM IS DEFINED IN
18 SECTION 15b OF THE FEDERAL "SECURITIES EXCHANGE ACT OF 1934,"
19 THAT IS REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION
20 UNDER SECTION15b OF THE FEDERAL "SECURITIES EXCHANGE ACT OF
21 1934".
22 (d) THIS SUBSECTION (7) ONLY APPLIES TO METROPOLITAN
23 DISTRICTS CREATED ON OR AFTER JANUARY 1, 2023.".
24
25 Renumber succeeding sections accordingly.
26
27 As amended, ordered engrossed and placed on the Calendar for Third
28 Reading and Final Passage.
29

House Journal, April 29
43 Amend printed bill, page 16, after line 9, insert:
44
45 "SECTION 13. In Colorado Revised Statutes, 32-1-1107, add (7)
46 as follows:
47 32-1-1101. Common financial powers. (7) (a) PRIOR TO ISSUING
48 DEBT TO A DIRECTOR OF A METROPOLITAN DISTRICT OR TO AN ENTITY
49 WITH RESPECT TO WHICH A DIRECTOR OF A METROPOLITAN DISTRICT MUST
50 MAKE DISCLOSURE UNDER SECTION 24-18-109, THE BOARD OF THE
51 METROPOLITAN DISTRICT MUST RECEIVE A STATEMENT OF A REGISTERED
52 MUNICIPAL ADVISOR CERTIFYING THAT THE INTEREST RATE OF THE DEBT
53 DOES NOT EXCEED THE LESSER OF:
54 (I) THE INTEREST RATE ALLOWED UNDER SUBSECTION (7)(b) OF
55 THIS SECTION; OR
1 (II) THE CURRENT MARKET INTEREST RATE FOR THE DEBT BASED
2 ON CRITERIA DETERMINED BY THE MUNICIPAL ADVISOR, INCLUDING THE
3 RESTRUCTURE OF THE DEBT, THE MATURITIES, REDEMPTION PROVISIONS,
4 THE REVENUES PLEDGED FOR REPAYMENT, AND OTHER TERMS OF THE
5 DEBT, CONSIDERING THE FINANCIAL CIRCUMSTANCES OF THE
6 METROPOLITAN DISTRICT.
7 (b) THE INTEREST RATE ON DEBT ISSUED BY A METROPOLITAN
8 DISTRICT TO A DIRECTOR OF A METROPOLITAN DISTRICT OR TO AN ENTITY
9 WITH RESPECT TO WHICH A DIRECTOR OF A METROPOLITAN DISTRICT MUST
10 MAKE DISCLOSURE UNDER SECTION 24-18-109 MUST NOT EXCEED THE
11 MUNICIPAL MARKET DATA "AAA" GENERAL OBLIGATION, THIRTY-YEAR
12 CONSTANT MATURITY, OR SUCCESSOR INDEX IF REPLACED, PLUS FOUR
13 HUNDRED POINTS, AS OF THE SEVENTH BUSINESS DAY PRIOR TO THE DATE
14 OF ISSUANCE OF THAT DEBT AND MUST HAVE A MAXIMUM FINAL MATURITY
15 OF NOT MORE THAN FORTY YEARS FROM THE DATE OF ISSUANCE.
16 (c) AS USED IN THIS SUBSECTION (7), "REGISTERED MUNICIPAL
17 ADVISOR" MEANS A "MUNICIPAL ADVISOR", AS THAT TERM IS DEFINED IN
18 SECTION 15b OF THE FEDERAL "SECURITIES EXCHANGE ACT OF 1934,"
19 THAT IS REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION
20 UNDER SECTION15b OF THE FEDERAL "SECURITIES EXCHANGE ACT OF
21 1934".
22 (d) THIS SUBSECTION (7) ONLY APPLIES TO METROPOLITAN
23 DISTRICTS CREATED ON OR AFTER JANUARY 1, 2023.".
24
25 Renumber succeeding sections accordingly.
26
27 The amendment was declared lost by the following roll call vote:
28
29 YES 31 NO 31 EXCUSED 3 ABSENT
30 Amabile Y Exum Y Lynch N Sirota Y
31 Bacon Y Froelich Y McCluskie N Snyder N
32 Baisley N Geitner N McCormick Y Soper N
33 Benavidez Y Gonzales-Gutierrez Y McKean N Sullivan Y
34 Bernett Y Gray N McLachlan E Tipper N
35 Bird N Hanks E Michaelson Jenet Y Titone Y
36 Bockenfeld N Herod Y Mullica N Valdez A. N
37 Boesenecker Y Holtorf N Neville Y Valdez D. N
38 Bradfield N Hooton Y Ortiz Y Van Beber N
39 Caraveo Y Jodeh Y Pelton N Van Winkle N
40 Carver N Kennedy Y Pico N Weissman Y
41 Catlin N Kipp Y Ransom E Will N
42 Cutter Y Larson N Rich N Williams N
43 Daugherty N Lindsay Y Ricks Y Woodrow Y
44 Duran Y Lontine Y Roberts N Woog N
45 Esgar Y Luck N Sandridge N Young Y
46 Speaker Y