1. (1) In addition to any other powers granted to the authority in this article 117, the authority has the powers to:

   1. (a) Have the duties, privileges, immunities, rights, liabilities, and disabilities of a body corporate and political subdivision of the state;
   2. (b) Have perpetual existence and succession;
   3. (c) Adopt, alter, have, and use a seal;
   4. (d) Sue and be sued;
   5. (e) Acquire office space, equipment, services, supplies, and insurance necessary to carry out the purposes of this article 117;
   6. (f) Fix the time and place at which its regular and special meetings are to be held;
   7. (g) Adopt, amend, or repeal bylaws, policies, and procedures consistent with the provisions of this article 117, including policies and procedures regarding the definition and interpretation of terms used in this article 117. Nothing in this subsection (1)(g) grants the authority the power to redefine terms that are already defined in this article 117.
   8. (h) Appoint agents, employees, and professional and business advisers, including real estate professionals, construction companies, property managers, attorneys, accountants, and financial advisers as necessary to accomplish the purposes of this article 117, and to fix the compensation of such agents, employees, and advisers, and to establish the powers and duties of all agents, employees, and advisers, as well as any other person contracting with the authority to provide services, including termination of employment or the contract for services; except that the authority may contract with the officers, personnel, and consultants of the state treasurer to perform any or all activities specified in this article 117;
   9. (i) Make and execute agreements, contracts, and other instruments necessary or convenient in the exercise of the powers and functions of the authority under this article 117, including contracts with any person, firm, corporation, municipality, state agency, county, or other entity. All municipalities, counties, and state agencies may enter into and do all things necessary to perform any such arrangement or contract with the authority.
   10. (j) Utilize available money for administrative costs;
   11. (k) Establish advisory committees;
   12. (l) Borrow money through the issuance of bonds and other securities as provided in this article 117;
   13. (m) Enter into interest rate exchange agreements for bonds in accordance with section 24-117-106;
   14. (n) Acquire, hold, and sell loan obligations at prices and through methods deemed advisable by the board;
   15. (o) Contract for and to accept any gifts, grants, and loans of money, property, or any other aid in any form from the federal government, the state, any state agency, or any other source or any combination thereof, and to comply, subject to the provisions of this article 117, with the terms and conditions of such contracts for the acceptance of such items;
   16. (p) Secure insurance, guarantees, or other forms of collateral or credit support for issued bonds or securities;
   17. (q) Invest and deposit money in accordance with section 24-117-111;
   18. (r) Finance or participate in the financing of eligible projects, or any interest therein, except for any projects that are within the statutory authority of the Colorado housing and finance authority;
   19. (s) Facilitate the funding of infrastructure projects, and in so doing, the authority must prioritize assisting infrastructure projects that satisfy the criteria identified in section 24-117-112 (5);
   20. (t) Charge to and collect from state agencies and persons fees and charges in connection with the authority's loans or other services, including but not limited to fees and charges sufficient to reimburse the authority for all reasonable costs necessarily incurred by the authority in connection with carrying out the purpose and intent of this article 117 and the establishment and maintenance of reserves or other money, as the authority may determine to be reasonable;
   21. (u) Collect debts owed to the authority, including through necessary legal actions; and
   22. (v) Have and exercise all rights and powers necessary, incidental to, or implied from the specific powers granted in this article 117, which specific powers shall not be considered as a limitation on any power necessary or appropriate to carry out the purposes and intent of this article 117.
2. (2) The authority shall develop policies and procedures as necessary for the implementation of this article 117.
3. (3) The authority shall engage with under-represented communities and organizations.
4. (4) The authority shall engage in responsible contracting and labor practices.

5. (5)

   1. (a) The authority shall comply with all applicable federal laws governing the use of federal funds, including, without limitation, statutes and regulations governing:

      1. (I) Any conditions or limitations on expenditures;
      2. (II) Reporting; and
      3. (III) The commingling of federal funds.
   2. (b) Earnings made in connection with this article 117 on balances in any federal accounts must be credited and invested in accordance with federal law. Earnings made in connection with this article 117 on any state and local money must be deposited in the same fund to the credit of the account that generates the earnings.

6. (6) The authority shall follow all applicable federal and state prevailing wage and apprenticeship utilization statutory and regulatory requirements, including:

   1. (a) The federal Davis-Bacon Act, 40 U.S.C. sec. 3141 et seq., and related federal acts;
   2. (b) Where applicable, the federal Inflation Reduction Act of 2022, United States Code, title 26, including but not limited to sections 30C, 45, 45B, 45L, 45Q, 45U, 45V, 45X, 45Y, 45Z, 48, 48C, 48E, and 179D, and associated implementing rules and guidance promulgated by the United States department of the treasury and the United States internal revenue service, as the statute and implementing rules and guidance may be amended from time to time;
   3. (c) State prevailing wage and apprenticeship utilization requirements for projects that meet the definition of public projects, as defined in sections 24-92-201 (5) and 24-92-115; and
   4. (d) State prevailing wage and apprenticeship utilization requirements established in sections 24-92-115 and 24-92-201 for projects that meet the definition of energy sector public works projects, as defined in section 24-92-303 (5).
7. (7) The authority shall ensure that any loan that is issued by the authority and then paid in full is closed. The authority shall not use a closed loan as equity for any other project.
8. (8) If a project being considered by the authority is not required under state or federal law to follow prevailing wage or apprenticeship utilization requirements, the authority shall give preference for projects that voluntarily agree to follow the state prevailing wage for employees employed in the construction, rehabilitation, operation, or maintenance services of facilities, as described in sections 24-92-201 to 24-92-210, and state apprenticeship utilization requirements described in section 24-92-115.
9. (9) The authority shall not issue bonds for, finance, or participate in the financing of any projects that are within the statutory authority of the Colorado housing and finance authority.

Source: L. 2025: Entire article added, (SB 25-081), ch. 320, p. 1678, § 3, effective August 6.