122_enr

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

state engineer FOR ANY such designation or proclamation to
make loans and grants to agricultural organizations for emergency
drought-related water augmentation purposes.
SECTION 24. 37-60-123.2, Colorado Revised Statutes, is amended
to read:
37-60-123.2. Flood response fund - created. There is hereby
created in the state treasury the flood response fund, referred to in this
section as the "response fund". The state treasurer is hereby authorized and
directed to transfer THREE HUNDRED thousand dollars
from the Colorado water conservation board construction fund to the
response fund. The ' board is authorized to
provide funding for flood preparedness and for response and recovery
activities following flood events and disasters. The moneys in the response
fund are hereby continuously appropriated to the board for flood response
purposes, including, but not limited to, the immediate availability of funds
for aerial photography of flooded areas, flood documentation and
identification of specific hazards, evaluations and revisions of floodplain
designations, flood forecasting and preparation, and development of disaster
and recovery mitigation plans. All interest derived from the investment of
moneys in the response fund shall be credited to the Colorado water
conservation board construction fund. Any balance remaining in the
response fund at the end of any fiscal year shall remain in the fund.
SECTION 25. Restoration of flood response fund balance. The
state treasurer shall transfer a total of three hundred thousand dollars
($300,000), or so much thereof as may be necessary, from the unreserved
cash in the Colorado water conservation board construction fund to the
flood response fund created in section 37-60-123.2, Colorado Revised
Statutes, in order to restore the unencumbered balance in the flood response
fund to three hundred thousand dollars ($300,000}.
SECTION 26. Section 1 of chapter 224, Session Laws of Colorado
2005, is amended to read:
Section 1. Water proj ect loan authorizations from the severance
tax trust fund perpetual base account. (1) Pursuant to section 3 9-29-109
(1) (a) (I), Colorado Revised Statutes, the Colorado water conservation
board is hereby authorized to loan moneys from the severance tax trust fund
PAGE 13-SENATE BILL 07-122