(1) There is hereby created an independent public body politic and corporate to be known as the Colorado health facilities authority. Said authority is constituted a public instrumentality, and its exercise of the powers conferred by this article shall be deemed and held to be the performance of an essential public function. The authority shall be a body corporate and a political subdivision of the state and shall not be an agency of state government and shall not be subject to administrative direction by any department, commission, board, or agency of the state.(2) The governing body of the authority is a board of directors, which consists of seven members appointed by the governor, with the consent of the senate. The members shall be residents of the state. No more than four of the members may be affiliated with the same political party. Members of the board shall be appointed for terms of four years; except that the terms shall be staggered so that no more than three members' terms expire in the same year. Each member shall serve until the member's resignation or, in the case of a member whose term has expired, until a successor has been appointed. ore than three members' terms expire in the same year. Each member shall serve until the member's resignation or, in the case of a member whose term has expired, until a successor has been appointed. Any member shall be eligible for reappointment. The governor shall fill any vacancy by appointment for the remainder of an unexpired term.(3)(a) Any member of the board may be removed by the governor for misfeasance, malfeasance, willful neglect of duty, or other cause.(b) Notwithstanding the provisions of paragraph (a) of this subsection (3), a member shall be removed by the governor if such member fails, for reasons other than temporary mental or physical disability or illness, to attend three regular meetings of the board during any twelve-month period without the board having entered upon its minutes an approval for any of such absences.Amended by 2022 Ch. 2, § 84, eff. 2/25/2022.L. 77: Entire article added, p. 1306, § 1, effective July 1. L. 79: (3) amended, p. 1076, § 2, effective May 25. L. 83: (2) amended, p. 1109, § 1, effective May 25. L. 87: (2) amended, p. 911, § 23, effective June 15. cle added, p. 1306, § 1, effective July 1. L. 79: (3) amended, p. 1076, § 2, effective May 25. L. 83: (2) amended, p. 1109, § 1, effective May 25. L. 87: (2) amended, p. 911, § 23, effective June 15. For limitation on issuance of private activity bonds, see part 17 of article 32 of title 24; for the provisions which designate the Colorado health facilities authority as a 'special purpose authority' for the purposes of § 20 of article X of the state constitution, see § 24-77-102 (15).
Colorado Legal Code