Colorado § 23-20-117.5 - University of Colorado fund - creation - control - use.

§ 23-20-117.5. University of Colorado fund - creation - control - use.

(1) There is hereby created in the state treasury the university of Colorado fund that shall be under the control and administration of the board of regents of the university of Colorado in accordance with the provisions of this part 1. The board of regents shall have authority and responsibility for all university funds. The board of regents shall designate, pursuant to its statutory authority, those moneys whether received by appropriation, grant, contract, gift, or any other means that shall be credited to said fund together with all interest derived from the deposit and investment of moneys in the fund. The moneys in the fund shall remain under the control of the regents of the university of Colorado and shall not be transferred or revert to the general fund of the state at the end of any fiscal year.

(2) The moneys in the university of Colorado fund shall be used by the board of regents of the university of Colorado for the payment of salaries and operating expenses of the board and the institutions it governs, as well as for the payment of any other expenses incurred by the board in carrying out its statutory powers and duties.

(3) Moneys in the university of Colorado fund may be invested by the state treasurer in investments authorized by sections 24-36-109, 24-36-112, and 24-36-113, C.R.S., any public-private initiatives with the department of transportation, as defined in section 43-1-1201 (3), C.R.S., and bonds issued for turnpikes in accordance with part 2 of article 3 of title 43, C.R.S. The board shall determine the amount of moneys to be credited in the fund. Until the board of regents withdraws the moneys from the fund, the state treasurer shall invest the moneys on behalf of the board of regents.

(4) The board of regents shall establish an investment advisory committee consisting of at least five members to make recommendations to it regarding investments. The investment committee shall include the university of Colorado treasurer, the state treasurer, a member of the board of regents, and two representatives of the financial community.

Source: L. 94: Entire section added, p. 537, § 1, effective July 1. L. 98: (3) amended, p. 445, § 5, effective August 5. L. 2000: (1) amended, p. 613, § 12, effective May 18. L. 2005: (3) amended, p. 278, § 8, effective August 8.