Board Meeting 03/03/1983

• Board Meeting Date: 3/3/1983
• Description: Minutes, Agenda, Memorandums March 3, 1983
• Board Meetings - Doc Type: Meeting

37-95-107. Study of irreposed projects - authorization thereof. (I) Before
any proposed project can receive consideration for funding by the authority.
the Colorado water conservation board must first review the feasibility study
of any such proposed project, and the general asscnitrty ,oust authorize the
authority to proceed to consider any proposed project.
(2) Such feasibility study shall include, but not be limited to, an analysis •
of (he engineering. economic,and regulatory feasibility of a proposed project.
(3) (a) Feasibility studies may be initiated by the authority or by the Colo-
rado water conservation board acting either upon its own volition or at the
request of the authority or of the general assembly.
(b) When a feasibility study is initiated by the Colorado water conserva-
tion board acting upon its own volition, the board shall incur and pay all
expenses associated with conducting the study, but only to the extent that
moneys are made available to the board for such expenses by the general
a assembly. Such moneys shall include those moneys which have been or may
hereafter he appropriated, allocated, or otherwise credited to the Colorado
water conservation hoard 1 4instruction fund, not withstanding the provisions
Of section :37-(0-122(1)(e).The hoard shall keep proper and complete records
and accounts showing the amounts so expended on feasibility studies for each
separate proposed project.
(c) When feasibility studies are initiate,' by the Colorado water conserva-
tion board at the request. of the authority, tlx: authority shall. by contract
with said board, make provision to reimburse said board for the cost of such
feasibility studies.
(4) Upon receipt of a feasibility study by the Colorado water conservation •
board, said board shall review such study and forward the study to the gen-
eral assembly together with its recommendation as to whether or not the pro-
posed project should be authorized by the general assembly.
(5) Upon receipt of a feasibility study from the Colorado water conserva-
tion board, the,teneral assembly may authorize the authority, by means of
a joint resolution signed by the governor, to proceed with the consideration
of any project which the general assembly deems to be in the interests of
• and to the advantage of the people of the state. However, said authorization
shall in no way require or compel the authority to fund or in any way finance
and proceed with the development, acquisition, construction, reconstruction,
enlargement, extension, improvement, furnishing, equipping, maintenance,
repair, management, operation, or disposition of or participation in any pro-
posed project. Such decision to proceed shall be entirely within the discretion
of the authority.
(6) Should the authority choose to proceed with a project. then the
authority shall make, ur cause to be made, the necessary final designs and
specifications for such project; except that the final project location, oper-
ation, and purposes must be in substantial compliance with the feasibility
study for a project which was reviewed by the Colorado water conservation
board. The authority shall also develop and implement detailed plans for the
financing of projects with which it chooses to proceed. The terms and condi-
tions of such financing shall be at the sole discretion of the authority.
(7) If the Colorado water conservation board has, pursuant to subsection
(3) of this section, incurred the expenses of performing a feasibility :Andy
for a proposed project with which the authority ultimately decides to proceed,
then the authority shall reimburse said board for such expenses out of the
proceeds from the sale of bonds or notes by the authority for the project.