C.R.S. § 43-4-1703: Road enterprise - creation - powers and duties.

(1) (a) The road enterprise is and operates as a government-owned business within the department in order to execute its business purpose as specified in subsection (2) of this section by exercising the powers and performing the duties and functions set forth in this section. The transportation commission created in section 43-1-106 (1) shall serve as the enterprise board and shall, with the consent of the executive director, appoint an enterprise director who possesses such qualifications as the commission and the state personnel board may establish. The enterprise director shall oversee the discharge of all responsibilities of the enterprise and shall serve at the pleasure of the enterprise board.

(b) The enterprise is a type 1 entity, as defined in section 24-1-105, and exercises its powers and performs its duties and functions under the department. The governing board of the enterprise is made up of the transportation commission created in section 43-1-106 (1).

(2) (a) The business purpose of the enterprise is to complete preventive maintenance, repair, rehabilitation, and reconstruction projects to improve the condition of the roadway surface of the state highway system and to support the ongoing maintenance of the roadway surface.

(b) To allow the enterprise to accomplish this purpose and fully exercise its powers and duties through the enterprise board, the enterprise may:

(I) Impose fees as authorized by section 43-4-1705 (1);

(II) Issue revenue bonds payable from the revenues and other available money of the enterprise pledged for their payment;

(III) Seek, accept, and expend money from federal sources; and

(IV) Seek, accept, and expend gifts, grants, and donations.

(3) The enterprise constitutes an enterprise for purposes of section 20 of article X of the state constitution so long as it retains the authority to issue revenue bonds and receives less than ten percent of its total annual revenue in grants from all Colorado state and local governments combined. So long as it constitutes an enterprise pursuant to this subsection (3), the enterprise is not subject to section 20 of article X of the state constitution.

(4) In addition to any other powers and duties specified in this section, the enterprise has the following general powers and duties:

(a) To provide services as set forth in subsection (2) of this section; and

(b) To have and exercise all rights and powers necessary or incidental to or implied from the specific powers and duties granted by this section.