J_CDC_2020A 06/03/2020 08:32:59 AM Committee Summary PUBLICSTAFF SUMMARY OF MEETINGJOINT COMMITTEE COMMITTEE ON CAPITAL DEVELOPMENT COMMITTEE Date 06/03/2020 Attendance Rich X Sonnenberg X Story X Valdez A. X Roberts X Fields X Time 08:32:59 AM to 09:16:08 AM Place SCR 357 This Meeting was called to order by Senator Fields This Report was prepared by Bo Pogue Hearing Items Action Taken hConsideration of Draft Committee Legislation Committee Discussion Only X = Present, E = Excused, A = Absent, * = Present after roll call Consideration of Draft Committee Legislation - Committee Discussion Only Attachment Tag File Name Attachment A http://www2.leg.state.co.us/CLICS/CLICS2020A/commsumm.nsf/0/1A510DB14FBF...$File/20-1301_01.pdf?OpenElement 20-1301_01.pdf 08:34:26 AM The committee was called to order. A quorum was present. Bo Pogue, Legislative Council Staff, provided background on the consideration of potential committee legislation concerning the issuance of a lease-purchase agreement to fund the continuations of certain previously funded capital construction projects. Committee members received copies of the draft legislation (Attachment A). Esther van Mourik, Office of Legislative Legal Services, explained the effect of the draft legislation. Eric Rothaus, Deputy State Treasurer, provided input on the draft bill from the Treasurer's Office's perspective. 08:49:23 AM Mr. Rothaus responded to questions regarding the potential for additional moneys generated through the sale of certificates of participation (COPs) to be deposited in the Emergency Fund for Controlled Maintenance, and the timeline for COP issuance and repayment under the bill. Mr. Rothaus responded to additional questions regarding payment costs for a COP issuance under the draft bill, and potential collateral to offer for backing COPs. Ms. van Mourik responded to questions regarding the suitability of the draft bill for introduction. Discussion returned to the use of any extra moneys generated by a COP issuance, and the potential for including a legislative declaration to the bill. Mr. Rothaus responded to further questions regarding the terms of the issuance. 09:12:07 AM Discussion ensued regarding the which chamber to introduce the draft bill. 09:14:29 AM Motion Introduce committee legislation concerning the issuance of a lease-purchase agreement to fund the continuations of certain previously funded capital construction projects. Moved Sonnenberg Seconded Rich Yes Sonnenberg Yes Story Yes Valdez A. Yes Roberts Yes Fields Yes YES: 6 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS 09:14:32 AM Discussion continued regarding sponsorship for the legislation. 09:16:08 AM The committee adjourned.