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

(2) The Colorado water conservation board may make loans for the
construction of the proj ect specified in subsection (1) of this section from
such moneys as are or may hereafter become available to the Colorado
water conservation board construction fund. The loan shall be in the
amount listed in subsection (1) of this section plus or minus such amounts,
if any, as may be justified by reason of ordinary fluctuations in construction
costs as indicated by the engineering cost indices applicable to the types of
construction required for the 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, changes
instituted by regulatory agencies, or changes in material quantities beyond
contract limits.
(3 ) Pursuant to section 3 7-60-120 (1), Colorado Revised Statutes,
the Colorado water conservation board shall require such terms and
conditions in such contracts as will ensure repayment of funds made
available 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 to the terms and conditions established by the board and
by subsection (1) of this section.
SECTION 2. Water proj ect loan authorizations from the
severance tax trust fund perpetual base account. (1) Pursuant to section
39-29-109 (1) (a) (I), Colorado Revised Statutes, the Colorado water
conservation board is hereby authorized to loan moneys from the severance
tax trust fund perpetual base account to enable the construction of the
following water resources projects with the following priority:
Priority Borrow - Proj ect Loan Amount
(a) Southeastern Colorado ~Uater
Conservancy District Water Activity
Enterprise* Arkansas Valley
Conduit Project $60,600,000
(b) Penrose Water District Water
Activity Enterprise Water Rights
Purchase and Raw Water Pipeline $8,844,570
Total
$69,444,570
PAGE 2-SENATE BILL 07-122