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<br />operate, dispose of, and participate in one or more projects <br />within or without the state and to appropriate water for said <br />projects; <br /> <br />(II) To designate the Colorado water conservation board <br />or, with said board's permission, one or more other persons or <br />governmental agencies participating in a project to act as its <br />agent, in connection with the PLANNING, designing, <br />development, acquisition, construction, reconstruction, <br />enlargement, extension, improvement, furnishing, equipping, <br />maintenance, repair, management, operation, disposition of, or <br />participation in such projects; and <br /> <br />(III) To establish rules and-regulations for the use of <br />such projects; AND <br /> <br />(IV) TO FINANCE OR PARTICIPATE IN THE FINANCING OF A <br />PROJECT, OR ANY INTEREST THEREIN, ACQUIRED OR CONSTRUCTED OR <br />TO BE ACQUIRED OR CONSTRUCT EO BY ANY GOVERNMENTAL AGENCY. <br /> <br />SECTION 3. 37-95-107 (1) and (7), Colorado Revised <br />Statutes 1973, as amended, are amended to read: <br /> <br />37-95-107. Stud of ro osed ro'ects - authorization <br />thereof. (1) (a Before any proposed project can recelve <br />consideration for CONSTRUCTION funding by the authority, the <br />Colorado water conservation board must first review the <br />feasibility study of any such proposed project, and the <br />general assembly must authorize the authority to proceed to <br />consider THE CONSTRUCTION OF any proposed project. <br /> <br />$ <br /> <br />(b) THE STATE ENGINEER SHALL NOT ISSUE A PERMIT OR <br />LICENSE OR APPROVE PLANS, PURSUANT TO ANY LAW OR REGULATION <br />GOVERNING SUCH ACTIONS, FOR CONSTRUCTION OF ANY WATER <br />MANAGEMENT FACILITY OR HYDROELECTRIC POWER FACILITY FOR WHICH <br />THE AUTHORITY HAS PAID IN WHOLE OR IN PART FOR A FEASIBILITY <br />STUOY OR AN ENVIRONMENTAL ASSESSMENT OR ENVIRONMENTAL IMPACT <br />STUDY WITHOUT A WRITTEN RESOLUTION OR WRITTEN STATEMENT BY THE <br />AUTHORITY NOTIFYING THE STATE ENGINEER THAT THE APPLICANT HAS <br />REIMBURSED THE AUTHORITY FOR ITS EXPENDITURES FOR THE CONDUCT <br />OF SUCH STUDIES. <br /> <br />(7) If the Colorado water conservation board has, <br />pursuant to subsection (3) of this section, incurred the <br />expenses of performing a feasibility study for a proposed <br />project, with--which--the--aathority--aitimateiy--decide5--to <br />proceed~ then the authority shall reimbar5e--5aid--board--for <br />PROVIDE FOR THE REIMBURSEMENT OF such expenses out of the <br />proceeds from the sale of bonds or notes by-the-aathority for <br />the project OR, OTHERWISE, PRIOR TO THE START OF CONSTRUCTION <br />OF THE PROJECT. IF THE AUTHORITY HAS, PURSUANl TO SUBSECTION <br />(3) OF THIS SECTION, INCURREO THE EXPENSES OF SUCH A STUDY, <br /> <br />t <br /> <br />l~ <br /> <br />PAGE 2-HOUSE BILL NO. 1197 <br />