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<br />1 Be it enacted by the General Assembly of the State of Colorado: <br />2 SECTION 1. Water project loan authorizations from the <br />3 Colorado water conservation board construction fund. (1) Pursuant <br />4 to section 37-60-I22 (1) (b), Colorado Revised Statutes, the Colorado <br />5 water conservation board is hereby authorized to loan moneys from the <br />6 Colorado water conservation board construction fund to enable the <br />7 construction of the following water resources proj ects or the purchase of <br />8 water rights with the following priority: <br />9 Priority Borrower -Project Loan Amount <br />10 Pagosa Area Water & Sanitation <br />11 District Water Activity Enterprise -Dry <br />12 Gulch Reservoir Project Land Purchase $11,217,060 <br />13 Total $11,217,060 <br />14 (2) The Colorado water conservation board may make loans for <br />15 the construction of the project specified in subsection (1) of this section <br />16 from such moneys as are or may hereafter become available to the <br />17 Colorado water conservation board construction fund. Said loans shall <br />18 be in the amount listed in subsection (1 } of this section plus or minus such <br />19 amounts, if any, as maybe justified by reason of ordinary fluctuations in <br />20 construction costs as indicated by the. engineering cost indices applicable <br />21 to the .types of construction required for each project or as may be <br />22 justified by reason of changes in the plans for a project due to differing <br />23 or unforeseen site conditions, errors or omissions in the plans and <br />24 specifications, changes instituted by regulatory agencies, or changes in <br />25 material quantities beyond contract limits. <br />26 (3) Pursuant to section 37-60-120 (1), Colorado Revised Statutes, <br />-4- HB08-1346 <br />