Ballot Title Setting Board
2013-2014

The title as designated and fixed by the Board is as follows:

An amendment to the Colorado constitution concerning the establishment of a publicly owned state bank, and, in connection therewith, authorizing the bank to lend money for public purposes; directing that all assets of the state held by other financial institutions be transferred to the state bank; backing the bank’s debts and obligations with the full faith and credit of the state and exempting the bank from membership in the federal deposit insurance corporation; specifying that the amendment supersedes conflicting constitutional, state, and local law; creating a five member elected board of directors, representing five districts of the state drawn by the general assembly, to manage the bank; creating a nine member advisory board, appointed by the governor; requiring independent annual audits of the bank’s finances; and allowing the state bank to issue bonds to capitalize the bank.

The ballot title and submission clause as designated and fixed by the Board is as follows:

Shall there be an amendment to the Colorado constitution concerning the establishment of a publicly owned state bank, and, in connection therewith, authorizing the bank to lend money for public purposes; directing that all assets of the state held by other financial institutions be transferred to the state bank; backing the bank’s debts and obligations with the full faith and credit of the state and exempting the bank from membership in the federal deposit insurance corporation; specifying that the amendment supersedes conflicting constitutional, state, and local law; creating a five member elected board of directors, representing five districts of the state drawn by the general assembly, to manage the bank; creating a nine member advisory board, appointed by the governor; requiring independent annual audits of the bank’s finances; and allowing the state bank to issue bonds to capitalize the bank?

Hearing April 17, 2014

Single subject approved; staff draft amended; titles set.
Hearing adjourned 10:45 AM.

Hearing April 24, 2014

Motion for Rehearing granted; title setting denied on the basis that the measure does not constitute a single subject.
Hearing adjourned 8:24 PM.

* Unofficially captioned “Establishment of a State-Owned Bank" by legislative staff for tracking purposes. This caption is not part of the titles set by the Board.