(1) (a) On behalf of the state of Colorado and with the approval of the governor, the executive director of the department of personnel is authorized to acquire fee simple title, or any lesser interest therein, to any real property for present or future use by the state. Title to such property may be acquired by purchase, donation, financed purchase of an asset agreements, or certificate of participation agreements or by the exercise of the power of eminent domain through condemnation proceedings in accordance with law from funds appropriated by the general assembly or from funds donated to the state for the purpose. In the event that the executive director plans to acquire any real property by any of the means authorized by this subsection (1)(a), except for easements or rights-of-way, or to sell or otherwise dispose of such property, the executive director shall first submit a report to the capital development committee which outlines the anticipated use of the real property, the maintenance costs related to the property, the current value of the property, any conditions or limitations which may restrict the use of the property, and, in the event real property is acquired, the potential liability to the state which will result from such acquisition. The capital development committee shall review the reports submitted by the executive director and make recommendations to the executive director concerning the disposition of the real property. The executive director shall not acquire, sell, or otherwise dispose of any real property without considering the recommendations of the capital development committee. (b) Any financed purchase of an asset or certificate of participation agreement that is entered into pursuant to subsection (1)(a) of this section shall comply with the requirements of section 24-82-801. (c) to (e) (Deleted by amendment, L. 2009, (HB 09-1218), ch. 132, p. 570, § 3, effective July 1, 2009.) (f) As used in this section: (I) "Certificate of participation agreement" means any certificate evidencing a participation right of a proportionate interest in any financing agreement or the right to receive proportionate payments from the state or an agency due under any financing agreement. (II) "Financed purchase of an asset agreement" means a financing agreement that includes the purchase of an asset. (2) (a) The executive director of the department of personnel, with the approval of the governor, may rent or lease any real property not presently needed for state use and, under any such lease, with specific legislative authorization, may authorize the construction by the lessee on such property of any improvement which may be suitable for state use upon the termination of the lease, which improvement becomes the property of the state upon such termination at no additional cost to the state unless such costs are paid from funds appropriated by the general assembly or donated to the state for the purpose. (b) Repealed.
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