LEG00050

• Bill Number: SB03-236
• Year: 2003
• Title: Water Board Revenue Bonds
• Legislation - Doc Type: Other CWCB Related Bills - Passed

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FLOWS, AND IT IS IN THE BEST INTEREST OF THE PEOPLE OF THE STATE FOR

THE STATE TO FURTHER DEVELOP AND IMPROVE THE STATE'S WATER

INFRASTRUCTURE SO THAT THE STATE CAN RESERVE AS MUCH AS POSSIBLE

OF THE WATER TO WHICH IT IS ENTITLE!) UNDER COMPACTS AND INCREASE

ITS AVAILABLE WATER RESOURCES;

(b) IT IS NECESSARY AND APPROPRIATE TO EXPEDITE THE

DEVELOPMENT AND IMPROVEMENT OF COLORADO'S WATER

INFRASTRUCTURE BY AUTHORIZING THEBOARD TO ISSUE VOTER-APPROVED

WATER INFRASTRUCTURE REVENUE BONDS FOR THE PURPOSE OF FUNDING

WATER INFRASTRUCTURE PROJECTS APPROVED BY THE GOVERNOR; AND

(C) IT IS ALSO NECESSARY AND APPROPRIATE TO REQUIRE A

PORTION OF ANY BOND PROCEEDS, AS DETERMINED BY THE COLORADO

WATER CONSERVATION BOARD, TO BE EXPENDED FOR APPROVED WATER

INFRASTRUCTURE PROJECTS OR PORTlQNS THEREOF THAT:

(I) AUGMENT OR IMPROVE EXISTING WATER INFRASTRUCTURE

FACILITIES;

(II) CONSERVE EXISTING WATER SUPPLIES;

(III) PROTECT, ENHANCE, AND AUGMENT AGRICULTURAL USES;

(IV) PROVIDE MITIGATION FOR FISH AND WILDLIFE IN ACCORDANCE

WITH THE STANDARDS SET FORTH IN SECTION 37-60-122.2;

(V) PROVIDE OTHER ENVIRQNMENTAL AND RECREATIONAL

BENEFITS; OR

(VI) PROVIDE F AIR MlTlGATION TO THE AFFECTED BASIN OF ORIGIN.

(3) THE GENERALASSEMBL Y FU~THERFINDS AND DECLARES THAT:

(a) WATER INFRASTRUCTURE REVENUE BONDS ISSUED PURSUANT

TO THIS PART 2 DO NOT CONSTITUTE itA DEBT BY LOAN IN ANY FORM"

UNDER SECTION 3 OF ARTICLE XI OF THE STATE CONSTITUTION BECAUSE:

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8B03-236