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<br />';. <br /> <br />direct the board to proceed with said projects in the priorities established <br /> <br />by the general assembly under terms approved by the general assembly. <br /> <br />The board is authorized to make loans without general assembly approval <br /> <br />in amounts not to exceed five TWENTY-FIVE million dollars. The <br /> <br />unappropriated balance of moneys in the Colorado water conservation <br />board construction fund and the state severance tax trust fund perpetual <br /> <br />base account shall be available and continuously appropriated for this <br />purpose. The board shall submit a written determination of the basis for <br />such project loans to the general assembly by January 15 of the year <br /> <br />following the year in which the loan was made. <br /> <br />SECTION 22. 37-60-123.5 (1), Colorado Revised Statutes, is <br /> <br />amended to read: <br /> <br />37-60-123.5. Agricultural emergency drought response. (1) If, <br /> <br />pursuant to federal or state law, any portion of Colorado has received <br /> <br />emergency drought designation or a disaster emergency has been <br /> <br />proclaimed due to drought, notwithstanding the provisions of section <br /> <br />39-29-109 (1) (a), C.R.S., in addition to any other moneys appropriated <br /> <br />from the perpetual base account of the severance tax trust fund, created <br /> <br />by section 39-29-109, C.R.S., up to one million dollars in the perpetual <br /> <br />base account of the severance tax trust fund are continuously appropriated <br /> <br />ANNUALLY to the director of the Colorado water conservation board and <br /> <br />the state engineer auuually jJc;l FORANY such designation or proclamation <br /> <br />to make loans and grants to agricultural organizations for emergency <br />drought-related water augmentation purposes. <br /> <br />SECTION 23. 37-60-123.2, Colorado Revised Statutes, IS <br /> <br />amended to read: <br /> <br />37-60-123.2. Flood response fund - created. There is hereby <br /> <br />-18- <br /> <br />DRAFT <br /> <br />DRAFT <br />12.15.06 <br />