BOARD00109 ‎(2)‎

• Board Meeting Date: 1/23/2007
• Description: CF Section - Review of Water Related Legislation - 2007 Construction Fund Water Projects Projects Bill Update
• Board Meetings - Doc Type: Memo

the construction of the projects specified in subsection (1) of this section

2 from such moneys as are or may hereafter become available to the

3 severance tax trust fund perpetual base account. Said loans shall be in the

4 amounts listed in subsection (1) of this section plus or minus such

5 amounts, if any, as may be justified by reason of ordinary fluctuations in
6 construction costs as indicated by the engineering cost indices applicable

7 to the types of construction required for each project or as may be
8 justified by reason of changes in the plans for a project due to differing

9 or unforeseen site conditions, errors or omissions in the plans and

10 specifications, changes instituted by regulatory agencies, or changes in
11 material quantities beyond contract limits.

12 (3) Pursuant to section 37 -60-120 (1), Colorado Revised Statutes,

13 the Colorado water conservation board shall require such terms and

14

conditions in such contracts as will ensure repayment of funds made

15 available by it. The board shall not disburse any moneys for any loan
16 authorized by subsection (1) of this section unless and until it is satisfied,
17 in its sole discretion, that the recipient of any such loan will be able to
18 make repayment pursuant to the terms and conditions established by the
19 board and by subsection (1) of this section.

20

SECTION 3.

Decreases to prior water project loan

21 authorizations from the Colorado water conservation board

22 construction fund.

23
24

Prior

Prior

Decrease Amount

Borrower -

Project

Authority Amount

Remaining

-5-

DRAFT

DRAFT
12.15.06

.

.