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Last modified
8/15/2009 11:44:14 AM
Creation date
1/29/2008 4:05:26 PM
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Legislation
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
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perpetual base account to enable the construction of the following water <br />resources proj ects with the following priority: <br />Priority Borrower - Project Loan Amount <br />(a) Central Colorado Water Conservancy <br />District Well Augmentation <br />Sub-district - Water Rights Purchase <br />and Construction of Lined Gravel Pit <br />VVater Storage ~ AND GROUNDWATER <br />RECHARGE PROJECTS <br />Total <br />~2~,2~~,~~~ <br />~2~,2~~,0~0 <br />~` This loan is to refinance projects wholly or partially completed <br />(2) The Colorado water conservation board may make loans for the <br />construction of the ~~ pROJECTS specified in subsection (1) of this <br />section from such moneys as are or may hereafter become available to the <br />severance tax trust fund perpetual base account. SAID LoANS shall <br />be in the ~nr~ AMO~TS listed in subsection (1) of this section plus or <br />minus such amounts, if any, as may be justified by reason of ordinary <br />fluctuations in construction costs as indicated by the engineering cost <br />indices applicable to the types of construction required for ~ EACH proj ect <br />or as may be justified by reason of changes in the plans for a project due to <br />differing or unforeseen site conditions, errors or omissions in the plans and <br />specifications, changes instituted by regulatory agencies, or changes in <br />material quantities beyond contract limits. <br />(3) Pursuant to section 37-60-120 (1), Colorado Revised Statutes, <br />the board shall require such terms and conditions in ~ sUCH contracts as <br />will ensure repayment of funds made available by it. The board shall not <br />disburse any moneys for ~ ANY loan authorized by subsection (1) of this <br />section unless and until it is satisfied, ~ IN its sole discretion, that the <br />recipient of ~ ANY sUCH loan will be able to make repayment pursuant to <br />the terms and conditions established by the board and by subsection (1) of <br />this section. <br />SECTION 27. Effective date. This act shall take effect upon <br />passage; except that section 20 of this act shall take effect only if House Bill <br />PAGE 14-SENATE BILL 07-122 <br />
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