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1 DRAFT 10/30/2007 <br />2 <br />3 HOUSE BILL 08- <br />4 <br />5 BY <br />6 <br />7 Concerning the funding of Colorado water conservation board projects, and making appropriations <br />8 in connection therewith. <br />9 <br />10 Be it enacted by the General Assembly of the State of Colorado: <br />11 <br />12 *SECTION 1. Water project loan authorizations from the Colorado water <br />13 conservation board construction fund. <br />14 (1) Pursuant to section 37-60-122 (1) (b), Colorado Revised Statutes, the Colorado water <br />15 conservation board is hereby authorized to loan moneys from the Colorado water conservation <br />16 board construction fund to enable the construction of the following water resources projects or the <br />17 purchase of water rights with the following priority: <br />18 <br />19 Priority Borrower-Project Loan Amount <br />20 <br />21 (a) Pagosa Area Water & Sanitation District - $12,120,000 <br />22 Dry Gulch Reservoir <br />23 <br />~4 Total $12,120,000 <br />25 <br />26 (2) The Colorado water conservation board may make loans for the construction of the <br />27 projects specified in subsection (1) of this section from such moneys as are or may hereafter <br />28 become available to the Colorado water conservation board construction fund. Said loans shall be <br />29 in the amounts listed in subsection (1) of this section plus or minus such amounts, if any, as maybe <br />30 justified by reason of ordinary fluctuations in construction costs as indicated by the Engineering <br />31 cost indices applicable to the types of construction required for each project or as may be justified <br />32 by reason of changes in the plans for a protect due to differing or unforeseen site conditions, errors <br />33 or omissions in the plans and specifications, changes instituted by regulatory agencies, or changes <br />34 in material quantities beyond contract limits. <br />35 <br />36 (3) Pursuant to section 37-60-120 (1), Colorado Revised Statutes, the board shall require such <br />37 terms and conditions in such contracts as will ensure repayment of funds made availablf; by it. The <br />38 board shall not disburse any moneys for any loan authorized by subsection (1) of this section unless <br />39 and until it is satisfied, at its sole discretion, that the recipient of any such loan will be able to make <br />40 repayment pursuant to the terms and conditions established by the board and by subsection (1) of <br />41 this section. <br />42 <br />43 <br />44 *SECTION 2. Water project loan authorizations from the severance tax trust fund <br />45 perpetual base account. <br />~~ <br />~J <br />-1- <br />