COLORADO CONSTITUTION
ARTICLE XI
PUBLIC INDEBTEDNESS

Art. XI §1 | PLEDGING CREDIT OF STATE, COUNTY, CITY, TOWN OR SCHOOL DISTRICT FORBIDDEN

Neither the state, nor any county, city, town, township or school district shall lend or pledge the credit or faith thereof, directly or indirectly, in any manner to, or in aid of, any person, company or corporation, public or private, for any amount, or for any purpose whatever; or become responsible for any debt, contract or liability of any person, company or corporation, public or private, in or out of the state.

Art. XI §2 | NO AID TO CORPORATIONS - NO JOINT OWNERSHIP BY STATE, COUNTY, CITY, TOWN, OR SCHOOL DISTRICT

Neither the state, nor any county, city, town, township, or school district shall make any donation or grant to, or in aid of, or become a subscriber to, or shareholder in any corporation or company or a joint owner with any person, company, or corporation, public or private, in or out of the state, except as to such ownership as may accrue to the state by escheat, or by forfeiture, by operation or provision of law; and except as to such ownership as may accrue to the state, or to any county, city, town, township, or school district, or to either or any of them, jointly with any person, company, or corporation, by forfeiture or sale of real estate for nonpayment of taxes, or by donation or devise for public use, or by purchase by or on behalf of any or either of them, jointly with any or either of them, under execution in cases of fines, penalties, or forfeiture of recognizance, breach of condition of official bond, or of bond to secure public moneys, or the performance of any contract in which they or any of them may be jointly or severally interested. Nothing in this section shall be construed to prohibit any city or town from becoming a subscriber or shareholder in any corporation or company, public or private, or a joint owner with any person, company, or corporation, public or private, in order to effect the development of energy resources after discovery, or production, transportation, or transmission of energy in whole or in part for the benefit of the inhabitants of such city or town.

Art. XI §2a | STUDENT LOAN PROGRAM

The general assembly may by law provide for a student loan program to assist students enrolled in educational institutions.

Art. XI §3 | PUBLIC DEBT OF STATE - LIMITATIONS

The state shall not contract any debt by loan in any form, except to provide for casual deficiencies of revenue, erect public buildings for the use of the state, suppress insurrection, defend the state, or, in time of war, assist in defending the United States; and the amount of debt contracted in any one year to provide for deficiencies of revenue shall not exceed one fourth of a mill on each dollar of valuation of taxable property within the state, and the aggregate amount of such debt shall not at any time exceed three fourths of a mill on each dollar of said valuation, until the valuation shall equal one hundred millions of dollars, and thereafter such debt shall not exceed one hundred thousand dollars; and the debt incurred in any one year for erection of public buildings shall not exceed one half mill on each dollar of said valuation; and the aggregate amount of such debt shall never at any time exceed the sum of fifty thousand dollars (except as provided in section 5 of this article), and in all cases the valuation in this section mentioned shall be that of the assessment last preceding the creation of said debt.

Art. XI §4 | LAW CREATING DEBT

In no case shall any debt above mentioned in this article be created except by a law which shall be irrepealable, until the indebtedness therein provided for shall have been fully paid or discharged; such law shall specify the purposes to which the funds so raised shall be applied, and provide for the levy of a tax sufficient to pay the interest on and extinguish the principal of such debt within the time limited by such law for the payment thereof, which in the case of debts contracted for the erection of public buildings and supplying deficiencies of revenue shall not be less than ten nor more than fifteen years, and the funds arising from the collection of any such tax shall not be applied to any other purpose than that provided in the law levying the same, and when the debt thereby created shall be paid or discharged, such tax shall cease and the balance, if any, to the credit of the fund shall immediately be placed to the credit of the general fund of the state.

Art. XI §5 | DEBT FOR PUBLIC BUILDINGS - HOW CREATED

A debt for the purpose of erecting public buildings may be created by law as provided for in section four of this article, not exceeding in the aggregate three mills on each dollar of said valuation; provided, that before going into effect, such law shall be ratified by the vote of a majority of such qualified electors of the state as shall vote thereon at a general election under such regulations as the general assembly may prescribe.

Art. XI §6 | LOCAL GOVERNMENT DEBT

(1) No political subdivision of the state shall contract any general obligation debt by loan in any form, whether individually or by contract pursuant to article XIV, section 18(2)(a) of this constitution except by adoption of a legislative measure which shall be irrepealable until the indebtedness therein provided for shall have been fully paid or discharged, specifying the purposes to which the funds to be raised shall be applied and providing for the levy of a tax which together with such other revenue, assets, or funds as may be pledged shall be sufficient to pay the interest and principal of such debt. Except as may be otherwise provided by the charter of a home rule city and county, city, or town for debt incurred by such city and county, city, or town, no such debt shall be created unless the question of incurring the same be submitted to and approved by a majority of the qualified taxpaying electors voting thereon, as the term "qualified taxpaying elector" shall be defined by statute.

(2) Except as may be otherwise provided by the charter of a home rule city and county, city, or town, the general assembly shall establish by statute limitations on the authority of any political subdivision to incur general obligation indebtedness in any form whether individually or by contract pursuant to article XIV, section 18(2)(a) of this constitution.

(3) Debts contracted by a home rule city and county, city, or town, statutory city or town or service authority for the purposes of supplying water shall be excepted from the operation of this section.

Art. XI §7 | STATE AND POLITICAL SUBDIVISIONS MAY GIVE ASSISTANCE TO ANY POLITICAL SUBDIVISION

No provision of this constitution shall be construed to prevent the state or any political subdivision from giving direct or indirect financial support to any political subdivision as may be authorized by general statute.

Art. XI §8 | CITY INDEBTEDNESS; ORDINANCE, TAX, WATER OBLIGATIONS EXCEPTED. (REPEALED)

Art. XI §9 | THIS ARTICLE NOT TO AFFECT PRIOR OBLIGATIONS. (REPEALED)

Art. XI §10 | 1976 WINTER OLYMPICS. (DELETED BY AMENDMENT)

Congratulations! You're now booked up on Article XI of the Colorado Constitution!

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COLORADO CONSTITUTIONARTICLE XIPUBLIC INDEBTEDNESS

Art. XI §1 | PLEDGING CREDIT OF STATE, COUNTY, CITY, TOWN OR SCHOOL DISTRICT FORBIDDEN

Art. XI §2 | NO AID TO CORPORATIONS - NO JOINT OWNERSHIP BY STATE, COUNTY, CITY, TOWN, OR SCHOOL DISTRICT

Art. XI §2a | STUDENT LOAN PROGRAM

Art. XI §3 | PUBLIC DEBT OF STATE - LIMITATIONS

Art. XI §4 | LAW CREATING DEBT

Art. XI §5 | DEBT FOR PUBLIC BUILDINGS - HOW CREATED

Art. XI §6 | LOCAL GOVERNMENT DEBT

Art. XI §7 | STATE AND POLITICAL SUBDIVISIONS MAY GIVE ASSISTANCE TO ANY POLITICAL SUBDIVISION

Art. XI §8 | CITY INDEBTEDNESS; ORDINANCE, TAX, WATER OBLIGATIONS EXCEPTED. (REPEALED)

Art. XI §9 | THIS ARTICLE NOT TO AFFECT PRIOR OBLIGATIONS. (REPEALED)

Art. XI §10 | 1976 WINTER OLYMPICS. (DELETED BY AMENDMENT)

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