Increase Cap Charter School Moral Obligation Bonds

Under current law, if the Colorado educational and cultural facilities authority has issued qualified charter school bonds for a charter school that fails to immediately restore its qualified charter school debt service reserve fund (reserve fund) to the applicable reserve fund requirement, the general assembly may, but is not required to, appropriate money to restore any or all reserve fund requirements for an aggregate outstanding principal amount of bonds not to exceed $500 million. The act increases the cap for the aggregate outstanding principal amount of qualified charter school bonds for which the general assembly may restore reserve fund requirements to $750 million.(Note: This summary applies to this bill as enacted.)