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<br />880 <br /> <br />Water and Irrigation <br /> <br />Ch. 253 <br /> <br />conditions, errors or omissions in the plans and specifications, changes instituted by <br />regulatory agencies, or changes in material quantities beyond contract Jimits. <br /> <br />(3) Pursuant to section 37-60-120 (I), Colorado Revised Statutes, the board shall <br />require such terms and conditions in the contracts as will ensure repayment of funds <br />made available by it. The board shall not disburse any moneys for any loan <br />authorized by subsection (1) of this section unless and until the board is satisfied, in <br />its sole discretion, that the recipient of any such loan will be able to make repayment <br />pursuant to the terms and conditions estahlished by the hoard and by subsection (I) <br />of this section. <br /> <br />SECTION 2. Water project loan authorizations from the severance tax trust <br />fund perpetual base account. (1) Pursuant to 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 severance tax trust fund perpetual base account <br />to enable the construction of the following waterresources projects with the following <br />priority: <br /> <br />Priority Borrower-Project <br /> <br />Loan Amount <br /> <br />(a) <br /> <br />Colorado River Water <br />Conservation District - <br />Elkhead Reservoir Enlargement <br />Total <br /> <br />$ 11.110.000 <br />$ 11,110,000 <br /> <br />(2) The Colorado water conservation board may make loans for the construction <br />of the projects specified in subsection (I) of this section from revenues that are or <br />may hereafter become available to the severance tax trust fund perpetual base <br />account. The loans shall be in the amounts listed in subsection (I) of this section, <br />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 be justified <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 (I), Colorado Revised Statutes, the board shall <br />require such terms and conditions in the contracts as will ensure repayment of funds <br />made availahle by it. The board shall not dishurse any moneys for any loan <br />authorized hy subsection (I) of this section unless and until theJJ9ard.is,satisfied,_llL. <br />~its soleaiSCfetRiil, tEat tne recipfent of any such loan will be able to make repayment <br />pursuant to the terms and conditions established by the board and by subsection (1) <br />of this section. <br /> <br />SECTION 3. Decreases to prior water project loan authorizations from the <br />Colorado water conservation board construction fund. <br /> <br />Borrower~ <br />Project <br /> <br />Prior <br />Authority <br /> <br />Prior <br />Amouut <br /> <br />Decrease <br /> <br />Amount <br />Remaining <br /> <br />Town ofPaonia - HB 95-1155 <br /> <br />$ 600,000 <br /> <br />$ 600,000 <br /> <br />$0 <br />