The law lets History Colorado sell specified mineral rights in Colorado and West Virginia with state controller approval, and directs any sale money to museum improvements.
History Colorado may sell mineral rights and royalty interests tied to a Weld County property and West Virginia property formerly linked to St. Elizabeth’s Retreat Chapel. The state controller must approve each agreement before closing.
If History Colorado sells the covered rights, it must put the proceeds in the state museum cash fund for capital improvements, including work on the collections care facility and controlled maintenance.
History Colorado must update the capital development committee about the sale of the covered mineral rights and royalty interests.
History Colorado may sell the specified mineral rights and royalty interests. The rights are tied to one property in Weld County, Colorado, and West Virginia property formerly associated with St. Elizabeth’s Retreat Chapel. The state controller must approve all sale agreements before closing.
History Colorado must put any sale proceeds in the state museum cash fund for capital improvements. This applies to proceeds from selling the mineral rights and royalty interests covered by the act. The money is for strategic capital improvements, including work on the collections care facility and controlled maintenance.
History Colorado must update the capital development committee about the sale. The update concerns the sale of the covered mineral rights and nonparticipating royalty interests.
No hearings or votes scheduled.