C.R.S. § 8-88-302: Colorado disability funding authority - powers and duties.

(1) The authority has and may exercise all rights and powers necessary or incidental to, or implied from, the specific powers granted in this part 3, which specific powers shall not be considered as a limitation upon any power necessary or appropriate to carry out the purposes and intent of this part 3. In addition to any other powers granted to the authority in this part 3, the authority has the duties, privileges, immunities, rights, liabilities, and disabilities of a body corporate and political subdivision of the state and the duties and powers to:

(a) Have perpetual existence and succession;

(b) Adopt, have, and use a seal and to alter the seal at its pleasure;

(c) Sue and be sued and otherwise assert or defend the authority's legal interests;

(d) Fix the time and place at which meetings may be held;

(e) Make business decisions to implement this part 3;

(f) Make and execute agreements, contracts, and other instruments necessary or convenient in the exercise of the powers and functions of the authority pursuant to this part 3;

(g) Purchase, lease, lease with an option to purchase, trade, exchange, or otherwise acquire, maintain, hold, improve, mortgage, encumber, and dispose of real property and personal property, whether tangible or intangible, and any interest, including easements and rights-of-way, without restriction or limitation;

(h) Acquire office space, equipment, services, supplies, and insurance necessary to carry out the purposes of this part 3;

(i) Appoint or contract with agents, employees, and professional advisers, as may from time to time be necessary in the authority's judgment to accomplish the purposes of this part 3, and to fix the compensation and establish the duties of such agents, employees, and advisers;

(j) Deposit any money of the authority in any banking institution or in any depository authorized pursuant to section 24-75-603, and to appoint, for the purpose of making such deposits, one or more individuals to act as custodians of the authority's money; and

(k) Contract for and to seek and accept any gifts, grants, or donations and loans of funds, property, or any other aid in any form from the federal government, the state, any state agency, any other public or private source, or any combination thereof, and to comply, subject to the provisions of this part 3, with the terms and conditions of such contracts or the acceptance of such items.

(2) (a) The authority may accept one-time and annual donations for eligibility for a license plate in a retired style pursuant to section 42-3-206.5. For the purpose of minimizing compliance costs for individuals and administrative costs for the authority, the department of revenue shall collect the donations on behalf of the authority. The department of revenue shall not transmit the collected donations to the state treasurer for deposit to any state fund but shall instead remit the donations collected to the authority in accordance with the process developed pursuant to this subsection (2). One-time and annual donations collected and remitted to the authority do not constitute state fiscal year spending, as defined in section 24-77-102 (17), for purposes of section 20 of article X of the state constitution.

(b) The authority shall maintain an account in a financial institution to which all money collected for the license plates in a retired style pursuant to section 42-3-206.5 is deposited. The authority shall work with the department of revenue to develop a process that ensures that the department of revenue is able to deposit all donations collected directly into the account or otherwise remit such donations to the authority.

(c) The authority may use money in the account for the authority's direct and indirect expenses in administering the requirements of this part 3 and any other related work that is completed to advance the authority's mission.