EFCB6719EB994FDA8725851B007A1B46 Hearing Summary

The committee was called to order. A quorum was present. Senator Foote, prime sponsor, presented Senate Bill 20-139, concerning authorization for a county to lend money to a governmental entity created by or located within the county for the purpose of providing funding for public infrastructure projects within the county. Senator Foote explained the effect of the bill and discussed its need. He also discussed amendments L.010 (Attachment A) and L.011 (Attachment B). Senator Foote responded to questions regarding the source of funds for infrastructure projects under the bill, and the processes involved in approving infrastructure projects under the bill. Senator Foote responded to further questions regarding the position of Boulder County residents on the bill.

Paul Weissman, Boulder County Treasurer, testified in support of SB 20-139. Treasurer Weissman explained the problem to be addressed by the bill. He addressed questions raised during earlier discussion. Treasurer Weissman responded to questions regarding the scope of the project, and the ability of Boulder County to cover the costs of certain infrastructure projects. Treasurer Weissman responded to questions regarding the type of financing to be orchestrated under SB 20-139, and Boulder County's current economic situation.

Naresh Kumanduri, representing himself, testified in support of SB 20-139. He discussed some potential concerns with the bill that could be rectified through amendment. Melanie Layton, representing the Colorado Bankers Association, testified on the bill from a neutral position. Ms. Layton discussed amendments that will address her organization's concerns. Discussion ensued regarding restricting dollars spent under the bill to infrastructure projects. Mr. Kumanduri responded to questions regarding his education.

Sophia San Miguel, representing herself, testified on the bill.

Discussion ensued regarding amendment L.010.