The Denver Post: Gov. Jared Polis’ office is pursuing legislation that would allow state agencies to invest enterprise fees and other public money in privately managed investment funds, instead of investing through the Colorado treasurer — and it’s relying on what a lawmaker called a “super-secret memo” for legal backing.

The memo to the governor’s office, which is based on a legal analysis by the attorney general’s office, states that there is legal cover for such a move. But a separate public attorney general opinion states that the “plain text” of the Colorado Constitution “generally prohibits the State from directly owning stock in a corporation.”

The memo and legal opinion both come from the attorney general’s office, though the private nature of the memo described by the governor’s office makes it unclear where in the AG’s office the memo came from.

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