Colorado Revised Statutes Title 43. Transportation § 43-4-706. Financial obligations subject to annual budget allocation

(2)(a) Every contract entered into by the executive director pursuant to the provisions of this part 7 shall provide that all financial obligations of the state under such contracts are subject to allocation on an annual basis by the commission, in its sole discretion, in accordance with section 43-1-113 and that such contracts shall not be deemed or construed as creating an indebtedness of the state within the meaning of the state constitution or the laws of the state of Colorado concerning or limiting the creation of indebtedness by the state of Colorado.

(b) In addition, revenue anticipation notes issued by the executive director pursuant to the provisions of this part 7 and every contract relating to the issuance of such notes shall provide that all financial obligations of the state in regard to the portion of the principal of and interest on such notes and the costs associated with the issuance and administration of such notes that may be paid from federal transportation funds pursuant to federal law and any agreement between the United States department of transportation and the department or the political subdivision that is or is to be the initial recipient of such federal transportation funds are subject to continuing federal appropriations of federal transportation funds at a level equal to or greater than the amount needed to pay the federal share of principal, interest, and costs on the revenue anticipation notes.