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1222 General Assembly Ch. 237 35-75-124. Account of activilies - receipts for expenditures - report _ audit. The authority shall keep an accurate account of all its activities and of all ils receipts and expendilUres. ana shall report annllally an such acti'/ities, FeceiplG, ana eltpelldiruFes ill the mORtR of February, to its members, to the governor, ana 10 the state auaitor in a ferm prescribea by Ihe state allailor. f.lso incluaea in the report shall be any recommenaalions with reference to aaaitional legislalion or olher aclion lIlat may be necessary 10 carry ollllhe pUFJloses of the authorily. The slale auditor may investigale the affairs of the aUlhority, may examine the properties and records of the authority, and may prescribe methods of accounting and the rendering of periodical reporls in relation to underlakings by the authority. Beginning in 1986 Ihe authorily shall report biennially an its aClivities to the general assembly no later than Jaffilary 15. SECTION 20. 36-1-102 (7), Colorado Revised Statules. 1990 Repl. Vol., is repealed as follows: 36-1-102. Employees - register - hearings - bonds - report. (7) The slale Boara ef lana commission.rs shall prepare ana transmit annually a rl!jloR to Ill. general assembly conreming lh. use ana aispositio'.1 of property acquirea B>, saia Boara plUsHant 10 ~enale Bill No. 61, as enactea 1R Ihe flfst regular sasslon of Ih. fifty fifth general assembly. SECTION 21. 36-1-148 (4), Colorado Revised Statules, 1990 Repl. Vol., is amended 10 read: 36-1-148. Land and water management fund. (4) The stale board of land commissioners shall PREPARE AND submit an annllal ANNUALLY, BY THE CONVENING DATE OF EACH REGULAR SESStON OF EACH GENERAL ASSEMBLY. A report of the moneys expended from the fund and matters accomplished by such expendilures for the preceding fiscal year to the general assembly BY Ih. con'/aning aat. of .ach regular s.ssien of .ach assembly AND THE USE AND DISPOSITION OF PROPERTY ACQUIRED BY SAID BOARD PURSUANT TO SENATE BILL No. 64, AS ENACTED IN THE FIRST REGULAR SESSION OF THE FIFTY-FIFTH GENERAL ASSEMBLY. The filing of said report in accordance with section 24-1-136 (9), C.R.S., shall be deemed sufficient compliance with the provisions of this subsection (4). SECTION 22. 36-3-104, Colorado Revised Statules, 1990 Repl. Vol., is amended to read: 36-3-104. Control of land - Carey act fund. The selection, management, and disposal of the land and all such lands as may be granted on or after June I. 1911. lO the slate by the United Slates shall be vested in the state board of land commissioners as constituted. and that board is empowered to accept all moneys upon the part of the slate from the. purchasers of the land, an.d to place the same in a fund to be designated as the "Carey act fund", and to dIsburse the ~ame as provided in this section. It is empowered lo accept from the seltlers, ftllllg on lands under the provisions of the acts within the former Southern Ule and Ute Indian reservations, as defined in the amendatory acls of congress of March I, 1907, and February 24, 1909, the sum of one dollar and twemy-five cems per acre for each acre thereof to be palented and to pay the same into the treasury .W'. eh. 237 General Assembly 12 of the United Slales. The board is authorized lO accepl any future grams of St lands by the Uniled States to this Slate and to agree lo and accept on behalf the state any conditions that may be imposed by the Uniled Slales in relati thereto. The boara shall report to each regular session of the geneFaI asseml after Juna I, 1911. its aseeptance ef the previsions of any such acts, if ar since th. neKl preceaing sessien. I SECTION 23. 37-60-106.5. Colorado Revised Statules, 1990 Repl. Vol., I amended. is repealed as follows: 37-60-106.5. Study of water salvage. The beara shall GonauGt an analysis water salvage which may result frem f<laeral programs, induaing salini eanlrol, ana report its finaings to the geneFaI ass@mblybyJanuary 1,1992. T I sluay shall be cemplel@a .....ithin the beara's @xisliRg reGoUrces. I SECTION 24. 37-60-115 (2), (4) (a), (4) (d), and (4) (e), Colorado ReviSI SlalUles, 1990 Repl. Vol., are amended to read: 37-60-115. Water studies. (2) The Celaraao wal@r conservatian beara sh: pr.sentto the geReral assembl)', an or befere JaRuar)' I, 19&7, proeeaures th fneililate the iaentification, ....aluatien, priorilbation. seheauliRg, ana fllnaing waler projeets se as to aecamplish te Ihe fullesl eXlent possible a uniti, aev@lopm@nt of Coloraao waleI' reseureea. (4) (a) The Colorado water conservalion board shall compile an inventory I potential dam and reservoir sites within the slate of COlorado. The initi inveBlery shall he maa@ available te th@ geneFaI assembly an er befere Octeb, I, 19&7. ana shall he upaated perieaically aRa maintainea by the boal thereafter. (d) Utilizing the inventory, the board shall identify potential dam ar reservoir siles. the developmenl of which may be Slopped because of ongoir land uses which are encroaching upon needed lands or because of Otlll circumstances. The boara shall, in the annual report Ie the general aS5embl reqllirea by seclion 37 69 122. apprise the general assembly ef the aam a. resen'oir sites sa ideRlifiea. (e) The board is authorized to pay for the expenses of periodically updatin and maintaining ana making the annllal report conc@rning, the inventory ( pOlential dam and reservoir sites for which this seclion calls using mone) approprialed, allocated, or otherwise credited to the Colorado waler conservatio board construction fund. I SECTION 25. 37-60-119 (3), Colorado Revised Stalutes. 1990 Repl. Vol. as amended, is amended to read: 37-60-119. Construction of water and power facilities - contracts with ani charges against users. (3) To promole the efficient management and operatiOI of agricullUral and mullipurpose water syslems, the board is authorized II expend up to five hundred thousand dollars as demonstration grants on a fift, percent cost sharing basis for projects lo improve water management or t;