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<br />Water and Irrigation <br /> <br />Ch.2I8 <br /> <br />(e) <br /> <br />Leroux Creek Water Users <br />Association - Carl Smith Reservoir <br />Dam Rehabilitation <br /> <br />$ 1,250,000 <br /> <br />(I) <br /> <br />Consolidated Mutual Water <br />Company - Fortune Reservoir <br /> <br />$ 10,000,000 <br /> <br />(g) <br /> <br />Pine River Canal Company. <br />Tunnel Hill Proiect <br /> <br />$ 243,700 <br /> <br />Total <br /> <br />$ 12,460,033 <br /> <br />, This loan is to refinance a water project wholly or partially completed. <br /> <br />(2) The Colorado water conservation board may make loans for the construction <br />of the projects specified in subsection (I) ofthis section from such moneys as are or <br />may hereafter become available to the Colorado water conservation board <br />construction fund. Said loans shall be in the amounts listed in subsection (I) of this <br />section plus or minus such amounts, if any, as may be justified by reason of ordinary <br />fluctuations in construction costs as indicated by the engineering cost indices <br />applicable to the types of construction required for each project or as may bejustified <br />by reason of changes in the plans for a project due to differing or unforeseen site <br />conditions, errors or omissions in the plans and specifications, changes instituted by <br />regulatory agencies, or changes in material quantities beyond contract limits. <br /> <br />(3) Pursuant to section 37-60-120 (1), Colorado Revised Statutes, the board shall <br />require such tenns and conditions in such contracts as will ensure repayment offunds <br />made available by it. The board shall not disburse any moneys for any loan <br />authorized by subsection (I) of this section unless and until it is satisfied, at its sole <br />discretion, that the recipient of any such loan will be able to make repayment <br />pursuant to the tenns and conditions established by the board and by subsection (I) <br />of this section. <br /> <br />SECTION 2. Water project loan authorizations from the severance tax <br />trustfuud perpetual base account. (1) Pursuantto section 39-29-109 (I) (a) (1), <br />Colorado Revised Statutes, the Colorado water conservation board is hereby <br />authorized to loan moneys from the severauce tax trust fund perpetual base account <br />to enable the construction of the following water resources projects with the following <br />priority: <br /> <br />(a) <br /> <br />Borrower-Project Loan Amount <br /> <br />Ute Water Conservancy District - $ 7,000,000 <br />Plateau Creek Pipeline Replacement <br />Proiect <br /> <br />Priority <br /> <br />Total <br /> <br />$ 7,000,000 <br /> <br />(2) The Colorado water conservation board may make loans for the construction <br />