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<br />958
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<br />Water and Irrigation
<br />
<br />Ch. 259
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<br />SENATE, for terms of three years. The appointments shall be made in such
<br />a manner that Ihe terms of three members shaIl expire on May 12 of each
<br />year. The members of said board who were appointed and are now serving
<br />as such members shall continue to serve as such members. In case a vacancy
<br />occurs in the appointed membership of the board by death, resignation, or
<br />otherwise, the governor shaII appoint a successor to serve the unexpired term
<br />of any member of the board.
<br />
<br />Section 9, 37-60-119, Colorado Revised Statutes, as amended, is amended
<br />to read:
<br />
<br />37-60-119. Construction of water and power facilities - contracts with and
<br />charges against users. (1) In order to promote the general welfare and safety
<br />of the citizens of this state, the board may, SUBJECT TO THE PROVI-
<br />SIONS IN SECTION 37-60-122, construct, rehabilitate, enlarge, or improve,
<br />OR LOAN MONEYS TO ENABLE THE CONSTRUCTION, REHABILI-
<br />TATION, ENLARGEMENT, OR IMPROVEMENT OF, such flood control,
<br />water supply, and hydroelectric energy facilities, together with related recrea-
<br />tional facilities, in whole or in part, as will, in the opinion of the board, abate
<br />floods or conserve, eff~ct more efficient use of, develop, or protect the water
<br />ang hydroelectric energy resources and supplies of the state of Colorado.
<br />In carrying out such program, the board is djrected to place special emphasis
<br />upon the. adoption and incorporation of measures which will encourage the
<br />conservation and more efficient use of water, including the instaIIation of
<br />water meters or such other measuring and control devices as the board deems
<br />appropriate in each particular case.
<br />
<br />(2) The board may, SUBJECT TO THE PROVISIONS IN SECTION
<br />37-60-122, enter into contracts for the use of, OR TO LOAN MONEYS TO
<br />ENABLE THE CONSTRUCTION, REHABILITATION, ENLARGE-
<br />MENT, OR IMPROVEMENT OF, said flood control, water, power, and any
<br />related recreational facilities, by flftd with any agency or political subdiv~ion
<br />of this state or the federal government, with individuals, with corporations,
<br />or with organizations composed of citizens of this state. Any such contracts
<br />may provide for such charges. to the using entity as, in Ihe opinion of the
<br />board, are necessary and reasonable to recover the board's capital invest-
<br />ment, together with operational, maintenance, and !tnic:c. INTEREST
<br />charges over the term of years agreed upon by contract. Service INTEREST
<br />charges shall be assessed at no less than five percent. Any such charges so
<br />collected shaII be credited to and made a part of the Colorado water conserva-
<br />tion board construction fund. All or any portion of the costs attributable to
<br />flood control and recreation may be considered nonreimbursable in the dis-
<br />cretionof the board, but only to the extent approved by the general assembly
<br />as specified in section 37-60-122.
<br />
<br />Section 10. 37-60-120, Colorado Revised Statutes, is amended to read:
<br />
<br />37-60-120. Control of projects - contractual powers of board. The state of
<br />Colorado shaII have the ownership and control of such' portions of said
<br />projects, OR SHALL TAKE A SUFFICIENT SECURITY INTEREST IN
<br />PROPERTY OR TAKE SUCH BONDS, NOTES, OR OTHER SECURI-
<br />TIES EVIDENCING AN OBLIGATION, as will assure repayment of funds
<br />made available by section 37-60-119. The.board is empowered to enter into
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