A Bill for an Act
Page 1, Line 101Concerning eliminating certain conditions related to
Page 1, Line 102Colorado state university's veterinary medicine
Page 1, Line 103program.
Bill Summary
(Note: This summary applies to this bill as introduced and does not reflect any amendments that may be subsequently adopted. If this bill passes third reading in the house of introduction, a bill summary that applies to the reengrossed version of this bill will be available at http://leg.colorado.gov.)
The bill eliminates the statutory cap on the number of veterinary students permitted to attend Colorado state university at one time. The bill eliminates additional financial limitations related to the professional veterinary medicine program at Colorado state university.
Page 2, Line 1Be it enacted by the General Assembly of the State of Colorado:
Page 2, Line 2SECTION 1. In Colorado Revised Statutes, amend 23-31-118 as follows:
Page 2, Line 323-31-118. Advancement of money and pledge of income -
Page 2, Line 4definition. (1) The board of governors of the Colorado state university
Page 2, Line 5system, designated in this section as the "board", is authorized to enter
Page 2, Line 6into contracts for the advancement of
moneysPage 2, Line 7and acquisition of facilities or equipment, or both, for the Colorado state
Page 2, Line 8university veterinary medicine hospital, or any part thereof, and, in
Page 2, Line 9connection with or as a part of such contracts, to pledge revenues from a
Page 2, Line 10special hospital fee that the board shall collect pursuant to agreements
Page 2, Line 11entered into with or with respect to each accountable student as security
Page 2, Line 12for the repayment of the
moneystherefor,Page 2, Line 13interest.
thereon. The maximum number of accountable students at anyPage 2, Line 14
given time shall not exceed three hundred eight; except that, should thePage 2, Line 15
total enrollment in the professional veterinary medicine program exceedPage 2, Line 16
five hundred forty-eight head-count students, additional accountablePage 2, Line 17
students may not exceed forty-five percent of each admitted class.Page 2, Line 18purposes of this section, an "accountable student" is a person who, as of
Page 2, Line 19the date of
his or herPage 2, Line 20veterinary medicine program, is not receiving funding, either from the
Page 2, Line 21state of Colorado or from a state that has entered into a cooperative
Page 2, Line 22agreement with the state of Colorado pursuant to section 24-60-601,
Page 2, Line 23
C.R.S.,Page 2, Line 24professional veterinary medicine program.
An agreement shall be enteredPage 2, Line 25
into with or with respectPage 3, Line 1each accountable student and
each such agreement shall provide that,Page 3, Line 2a condition to that student's continued enrollment in the professional
Page 3, Line 3veterinary medicine program.
there shall be paid annually by or on behalfPage 3, Line 4
of the student the special hospital fee provided for in this section, whichPage 3, Line 5
fee shall be fixed by the boardPage 3, Line 6(2) The board, in accordance with state law, shall annually
Page 3, Line 7assess each cooperative state or accountable student a support fee to
Page 3, Line 8reimburse Colorado for instructional costs.
This support fee includes anPage 3, Line 9
equipment and renovation fee of one thousand one dollars assessed toPage 3, Line 10
each cooperative state or accountable student for acquisition orPage 3, Line 11
replacement of equipment and for renovation.Page 3, Line 12proportionately in the acquisition or replacement of equipment and
Page 3, Line 13renovation projects. The amount to be paid by Colorado
shall bePage 3, Line 14determined by the annual ratio of Colorado students to accountable
Page 3, Line 15students based upon beginning enrollment of each school year. The fee
Page 3, Line 16required to be collected pursuant to this subsection (2) is based on a
Page 3, Line 17student's status as an "accountable student" at the time of selection for
Page 3, Line 18admission into the professional veterinary medicine program and shall not
Page 3, Line 19be reduced or waived regardless of the student's status as an in-state
Page 3, Line 20student, pursuant to the provisions of section 23-7-103, at any time during
Page 3, Line 21the student's participation in the professional veterinary medicine program.
Page 3, Line 22(3)
The board shall not pledge any income of the university exceptPage 3, Line 23
that authorized in subsection (1) of this section and shall not create anyPage 3, Line 24
mortgage upon property belonging to such institution or obligate the statePage 3, Line 25
of Colorado for the purpose of repaying or receiving any funds raised or advanced under the provisions of this section.Page 4, Line 1(4)
Any advancement of moneys, not to exceed two million fivePage 4, Line 2
hundred thousand dollars, may be evidenced by revenue bonds orPage 4, Line 3
anticipation warrants to be executed by the board for and on behalf ofPage 4, Line 4
Colorado state university and containing such terms and provisions,Page 4, Line 5
including provisions for adequate reserves and for redemption prior toPage 4, Line 6
maturity and a maximum net effective interest rate, as may be determinedPage 4, Line 7
by the board. Such revenue bonds or anticipation warrants shall bearPage 4, Line 8
interest at a rate such that the net effective interest rate of the issue ofPage 4, Line 9
bonds or anticipation warrants does not exceed the maximum netPage 4, Line 10
effective interest rate fixed, which interest shall be payable semiannuallyPage 4, Line 11
or annually. Such revenue bonds or warrants may be sold at less than par,Page 4, Line 12
but they may not be sold at a price such that the net effective interest ratePage 4, Line 13
of the issue of bonds or warrants exceeds the maximum net effectivePage 4, Line 14
interest rate fixed. Any such revenue bonds or warrants may be refundedPage 4, Line 15
pursuant to article 54 of title 11, C.R.S., if in the judgment of the board such refunding is to the best interests of the university.Page 4, Line 16(5)
If the sources of pledged revenues described in subsection (1)Page 4, Line 17
of this section exceed the amount required for the amortization of anyPage 4, Line 18
advancement made pursuant to this section, and the payment of interestPage 4, Line 19
thereof, together with reserve requirements, the board may apply suchPage 4, Line 20
surplus to the redemption of such securities prior to maturity of suchPage 4, Line 21
securities according to redemption provisions thereof, or such surplusPage 4, Line 22
may be used by the board for the purposes of maintaining, repairing,Page 4, Line 23
altering, or adding to any existing equipment or facilities acquired pursuant to the provisions of this section for any lawful purpose.Page 4, Line 24(6)
All obligations issued pursuant to this section and the incomePage 5, Line 1
therefrom shall be exempt from taxation, except inheritance, estate, and transfer taxes.Page 5, Line 2(7)
No action shall be brought questioning the legality of anyPage 5, Line 3
contract, proceedings, revenue bonds, or anticipation warrants issued orPage 5, Line 4
to be issued by the board in connection with the provision of all or anyPage 5, Line 5
part of the Colorado state university veterinary medicine hospital pursuantPage 5, Line 6
to this section after the expiration of thirty days from the effective date ofPage 5, Line 7
any resolution or other official action authorizing such contract, adopting such proceedings, or authorizing the issuance of such warrants or bonds.Page 5, Line 8SECTION 2. Act subject to petition - effective date. This act
Page 5, Line 9takes effect at 12:01 a.m. on the day following the expiration of the
Page 5, Line 10ninety-day period after final adjournment of the general assembly; except
Page 5, Line 11that, if a referendum petition is filed pursuant to section 1 (3) of article V
Page 5, Line 12of the state constitution against this act or an item, section, or part of this
Page 5, Line 13act within such period, then the act, item, section, or part will not take
Page 5, Line 14effect unless approved by the people at the general election to be held in
Page 5, Line 15November 2026 and, in such case, will take effect on the date of the official declaration of the vote thereon by the governor.