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Code of Colorado Regulations eDocket
Details of Tracking Number
2009-00321
CCR details
| Tracking Number |
2009-00321 |
| Type of Filing |
Permanent Rule |
| Department |
600 Department of Transportation |
| Agency |
605 Transportation Commission (604, 605 Series) |
| CCR Number |
2 CCR 605-1 |
| CCR Title |
RULES AND REGULATIONS BY THE COLORADO DEPARTMENT OF TRANSPORTATION FOR THE COLORADO STATE INFRASTRUCTURE BANK |
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Proposed rule
| Notice Filed with SOS |
04/29/2009 |
| Rule |
ProposedRuleAttach2009-00321.RTF |
| Statutory Authority |
43-1-113.5 (3) CRS |
| Description of Subjects/Issues |
Rules will be updated with general changes to formatting, grammar and nonsubstantive changes plus the application process, process for evaluating applications, interest rates section and repayment of loans areas will be updated. |
| Purpose/Objective of Rule |
The purpose of the rules is to define the eligibility requirements, prescribe the application and selection processes, and to detail certain terms for securing financial assistance, for public transportation projects within the state, from the Colorado State Infrastructure Bank [COSIB]. COSIB is a fund that CDOT administers to public projects. The majority of the money in the fund is received from the federal government. The COSIB program was developed as part of a federal pilot program. It has been successful and continues to be a useful program for local communities. The bank makes loans available to communities in all areas of Colorado to help fund transportation projects.
These rules apply to any public or private project sponsor of public transportation projects within the state. The COSIB offers several advantages to communities looking for financing of public transportation projects. The COSIB acts as a bank to provide capital for funding projects in the short term. As project loans are re-paid, more capital becomes available for new projects. Advantages of using COSIB include low interest rates which are below market rates which lower the overall cost of borrowing. Standardized project agreements and loan documents reduce processing time and legal fees for the applicant communities or entities. |
| Submitted in response to issues raised by COLS/OLLS? |
No
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| Is this rule adopted in response to recent legislation? |
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| Hearing Date |
06/02/2009 |
| Hearing Time |
09:00 AM |
| Hearing Location |
CDOT, 4201 East Arkansas Avenue, room 25, Denver, CO 80222 |
| Contact Name |
Teresa |
| Contact Title |
Lawser |
| Contact Telephone |
303-757-9843 |
| Contact email |
teresa.lawser@dot.state.co.us |
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Adopted rule
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