Colorado Public Trustees’ Association
Legislative Committee Meeting Minutes
Adams County, May 12, 2005

 The CPTA Legislative Committee meeting was called to order at 11:00 am in the building that houses the Adams County Public Trustee’s Office.  Those in attendance were Peggy Foley, Jeannie Reeser, Tina Whitmer, Jack Arrowsmith, Bob Sagel, Mary Schaefer, Sandy Hume, Roxy Huber, Debbie Wagner, Jill Voegtle, and Robert Hopp, representing the Real Estate Committee of the Colorado Bar Association.  There was a problem with the conferencing equipment so several others were not able to join the discussion.

The first item discussed was passage of HB 05-1168.  Debbie passed out copies of the bill.  Since the Legislature adjourned two days early, this effective date for the changes allowed in this bill will be August 8, 2005, rather than August 10, 2005.

The next topic was to review the progress of the rewrite of foreclosure statutes.  This project is being carried out by a subcommittee of the Legislative Committee with the assistance of the Real Estate Committee of the Colorado Bar Association.  Tina voiced concern that each time a new draft is received, changes appear that had not been discussed or approved at the prior meeting with the Bar committee.  She suggested that the Public Trustee committee take over the drafting.  Robert defended having attorneys doing the drafting, stating that they are better qualified to properly word the changes.  Sandy reminded everyone that no matter who is doing the drafting, this is still to be a Public Trustee’s bill.  

Next, the Committee reviewed each section of the most current draft of the proposed changes and made recommendations for the subcommittee.  Robert kept note of the changes and will be reworking the draft prior to the next meeting with the Bar committee.  There were a few controversial items that will be discussed at that time.  During the discussion, Bob reintroduced a proposal from Holly Williams to reduce the amount needed for the reserve requirement.  After discussion, it was decided to not pursue this.

After lunch, before continuing the review, Sandy asked that we briefly discuss the possibility of pursuing a salary bill in the next session.  The committee appeared to be in favor of the proposal.  Debbie said she would try to set up a meeting for the appointed Public Trustees with Mike Beasley prior to the summer conference. 

The group then finished reviewing the rest of the draft.  The most significant change will be in the order of redemption by junior lienors.  The new proposal would allow the most junior lienor who has filed an intent the first right to redeem, providing that they must also pay any other junior lienors that are senior to their lien who have filed an intent.  The committee initially rejected this but upon further discussion, everyone decided that it made more sense than the current practice.  Jill will look into creating a time line flow chart showing the current statutes versus the proposed changes. 

There being no further business, the meeting was adjourned at 4:45 p.m.

Respectfully submitted,
Bob Sagel, Chairman