Colorado agriculture authority would return bond allocations on November 15

The Colorado Agricultural Development Authority would return unused state bond allocations to the statewide balance on November 15 each year. This applies to allocations of the state private activity bond ceiling made or assigned to the Colorado Agricultural Development Authority. The allocation would not be returned to the statewide balance if the authority or its assignee issues bonds before November 15. The allocation also would not be returned to the statewide balance if the authority or its assignee gives the required written notice for a project with a carryforward purpose. The deadline would apply each year on November 15.

A state issuing authority would return any excess allocation to the statewide balance after accounting for issued bonds, carryforward uses, or certain unused mortgage bond allocations. The rule covers the Colorado Agricultural Development Authority and other state issuing authorities that receive state bond ceiling allocations. The Colorado Agricultural Development Authority would return excess amounts on November 15 each year. Other state issuing authorities would return excess amounts on September 15 each year. Any state issuing authority may voluntarily return all or part of its allocation to the statewide balance at any time by written notice. The annual return deadlines would be November 15 for the Colorado Agricultural Development Authority and September 15 for other state issuing authorities.