dissenting.
I dissent. Section 1 — 45-116(l)(a), C.R.S. (1980 Repl.Vol. IB) prohibits expenditures by any political subdivision of this state of public monies from any source to urge electors either to vote for or against any issue.
There is no controversy that CCIA is a political subdivision of the state, that its funds are in the custody of the state treasury pursuant to § 8-45-102(1), C.R.S. (1994 Cum.Supp.), and that some of those funds were expended to campaign against an issue before the electorate.
Relying on Pensioners’ Protective Ass’n v. Davis, 112 Colo. 535, 150 P.2d 974 (1944), the majority concludes that CCIA did not violate the statute because its funds are not public monies.
This reliance is misplaced. In Davis, the supreme court reasoned that special funds which are collected or voluntarily contributed for the sole benefit of the contributor and for which the state is merely the custodian are not considered public funds. However, the Campaign Reform Act of 1974 specifically included public funds from any source, and therefore, the rationale of Pensioners’ Protective Ass’n is distinguishable.
I conclude that funds of a political subdivision of this state held by the state treasurer for specified statutory purposes constitute “public monies from any source” within the meaning of the Campaign Reform Act. See § 24-75-601(2), C.R.S. (1994 Cum.Supp.). Consequently, I would reverse the order of the Secretary of State dismissing the complaint.