sl_352

• Bill Number: SB07-122
• Year: 2007
• Title: Concerning the funding of Colorado water conservation board projects, and making appropriation in connection therewith.
• Legislation - Doc Type: Construction Fund Bill

1512Water and IrrigationCh. 352
regulatory agencies, or changes in material quantities beyond contractlimits.
(3)Pursuantto section 37-60-120 (1), Colorado Revised Statutes, the Colorado
water conservationboardshallrequiresuchterms andconditions insuch contracts
as will ensure repayment of fundsmadeavailable by it. The board shall not
disburse any moneys for any loan authorized by subsection (1) of this section unless
and until it is satisfied, in its sole discretion, that the recipient of any such loan will
be able to make repayment pursuant tothe terms and conditionsestablished by the
board and by subsection (1) of thissection.
SECTION 2.Waterprojectloanauthorizationsfromthe severance tax trust
(1) Pursuantto section 39-29-109 (1) (a) (I),
fund perpetual base account.
Colorado Revised Statutes, the Colorado water conservation board ishereby
authorizedtoloanmoneysfromtheseverance tax trust fund perpetual base account
to enabletheconstructionofthefollowingwaterresourcesprojectswith the
following priority:
PriorityBorrow - ProjectLoan Amount
(a)Southeastern Colorado Water
Conservancy District Water Activity
Enterprise* Arkansas Valley Conduit
Project$60,600,000
(b)Penrose Water District Water Activity
Enterprise Water RightsPurchase and
Raw Water Pipeline$8,844,570
$69,444,570
Total
* The moneysappropriated for this project shall remain available for the designated
purposesuntil theprojectiscompleted; except that, if the project sponsor does not
enter into a loan contract with the Colorado water conservation board within two
years after the effective date of this section, then the moneys appropriated in this
subsection (1) shall no longer be available for the designated purposes and shall
become available for other lawful uses.
(2) The Coloradowaterconservation board may make loans for the construction
of the projects specified in subsection(1)ofthissectionfromsuch moneys as are
or may hereafter become available to the severance tax trust fund perpetual base
account. Said loansshallbeintheamountslisted in subsection (1) of thissection
plus or minus such amounts,ifany, as may be justified by reason of ordinary
fluctuationsin construction costsas indicated by the engineering cost indices
applicable to the types of construction required for each project or as may be
justified by reason of changes in the plans for a project due to differing or
unforeseen site conditions, errors or omissions in the plans and specifications,
changesinstituted by regulatory agencies, or changes in material quantities beyond
contract limits.
(3) Pursuanttosection37-60-120 (1), Colorado Revised Statutes, the Colorado
water conservation board shall require such terms and conditions in such contracts