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<br />Ch. 168 <br /> <br />Water and Irrigation <br /> <br />available for the designated purposes until the project is completed. <br /> <br />SECTION 12. Restoration of emergency infrastructure repair loan account <br />balance. A total of nine hundred sixty thousand dollars ($960,000), or so much <br />thereof as may be necessary, shall be transferred from unreserved cash in the <br />Colorado water conservation board construction fund to the emergency infrastructure <br />repair loan account in order to bring the balance in the emergency infrastructure <br />repair loan account back to two million dollars ($2,000,000). <br /> <br />SECTION 13. Salinity control program loans. The Colorado water <br />conservation board is hereby authorized to expend a cumulative total of one million <br />dollars ($1,000,000) from unreserved cash in the Colorado water conservation hoard <br />construction fund for loans to participants in the Colorado river basin salinity control <br />program. Such loans shall be at the terms and conditions the board determines after <br />review and approval of each potential participant's application. The loan amount <br />shall not exceed fifty percent of the total cost of constructing any particular salinity <br />control project. <br /> <br />SECTION 14. Article 60 of title 37, Colorado Revised Statutes, 1990 Repl. Vol., <br />as amended, is amended BY THE ADDITION OF A NEW SECTION to read: <br /> <br />37-60-122.4. Horse Creek basin account - creation. (I) THERE IS HEREBY <br />CREATED IN THE ST ATE TREASURY AS PART OF THE COLORADO WATER CONSERVATION <br />BOARD CONSTRUCTION FUND THE HORSE CREEK BASIN ACCOUNT. THE STATE <br />TREASURER IS HEREBY AUTHORIZED AND DIRECTED TO TRANSFER NINE HUNDRED <br />FIFTEEN THOUSAND DOLLARS ($915,000) FROM THE COLORADO WATER <br />CONSERVATION BOARD CONSTRUCTION FUND TO THE HORSE CREEK BASIN ACCOUNT, <br /> <br />(2) THE COLORADO W ATERCONSERV ATION BOARD IS AUTHORIZED TO MAKE LOANS <br />FROM THE HORSE CREEK BASIN ACCOUNT TO FINANCE THE COSTS OF ACQUIRING <br />WATER RIGHTS FOR AUGMENTATION, THE ENGINEERING AND LEGAL COSTS OF <br />ADJUDICATION OF AN AUGMENTATION PLAN, AND THE COSTS ASSOCIATED WITH <br />OBTAINING AN OPERATING AGREEMENT TO F ACILIT ATE SAID AUGMENTATION PLAN FOR <br />WATER USERS IN THE HORSE CREEK BASIN AREA. THE COLORADO WATER <br />CONSERVATION BOARD IS AUTHORIZED TO CONTRACT, PURSUANT TO SECTION <br />37-60-119 (2), FOR THE LOANS SPECIFIED IN THIS SUBSECTION (2). THE LOANS SHALL <br />BE SUBJECT TO AN INTEREST RATE AND REPAYMENT PERIOD TO BE DETERMINED <br />SOLELY BY THE COLORADO WATER CONSERVATION BOARD. THE COLORADO WATER <br />CONSERVATION BOARD SHALL, PURSUANT TO SECTION 37-60-120 (I), REQUIRE SUCH <br />TERMS AND CONDITIONS IN ANY CONTRACT ENTERED INTO PURSUANT TO THIS <br />SUBSECTION (2) THAT WILL ENSURE REPAYMENT OF THE LOAN. <br /> <br />(3) THE COLORADO WATER CONSERVATION BOARD IS HEREBY AUTHORIZED TO <br />LOAN THE HORSE CREEK WATER USERS ASSOCIATION THE AMOUNT OF EIGHT <br />HUNDRED TWENTY-FIVE THOUSAND DOLLARS ($825,000) FROM THE HORSE CREEK <br />BASIN ACCOUNT, CREATED IN SUBSECTION (I) OF THIS SECTION, PURSUANT TO THE <br />TERMS AND CONDITIONS OF SUBSECTION (2) OF THIS SECTION. <br /> <br />SECTION 15. Well metering project appropriation. (I) The Colorado water <br />conservation board, in cooperation with the state engineer, is hereby authorized to <br />expend up to one hundred thousand dollars ($100,000) to study well pumping <br />