Financing To Purchase Firefighting Aircraft

The bill directs the state, through the state treasurer, to execute a financed purchase of an asset or certificate of participation agreement (financing agreement) in an amount not to exceed $4 million in annual payments and for a term of up to 20 years for the purchase of a fire hawk helicopter, configured for wildfire and other public safety response needs, for use by the division of fire prevention and control (division) within the department of public safety, subject to the availability of a suitable aircraft at a reasonable price as determined by the state treasurer in consultation with the division. Payments under the financing agreement are subject to annual appropriation by the general assembly from the Colorado firefighting air corps fund, from the general fund, or from any other legally available source of money. The financing agreement that is entered into must authorize the state or the division to receive fee title to the fire hawk helicopter on or before the expiration of the terms of the financing agreement.
(Note: This summary applies to this bill as introduced.)