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<br />1798 <br /> <br />Water and Irrigation <br /> <br />Ch. 435 <br /> <br />(2) All meetings of the board shall be open to the public. No business <br />of the board shall be transacted except at a regular or special meeting at <br />which a quorum is present. <br /> <br />(3) Any board member, employee, or other agent or adviser of the boa;d <br />who has a direct or indirect interest in any contract or transaction with the <br />authority shall disclose this interest to the board. This interest shall be set <br />forth in the minutes of the board, and no board member. employee, or other <br />agent or advIser having such interest shall participate on behalf of the board <br />in the authentication of any such contract or transaction. <br /> <br />37-95-106. Authority. powers. (I) Except as otherwise limited by this <br />article, the authority, acting through the board, has the power: <br /> <br />(a) To have the duties, privileges, immunities, rights, liabilities, and dis- <br />abilities of a body corporate and political subdivision of the state; <br /> <br />(b) To sue and be sued; <br /> <br />(c) To have an official seal and to alter the same at pleasure; <br /> <br />(d) To make and alter bylaws for its organization and internal manage- <br />ment and for the conduct of its affairs and business; <br /> <br />(e) To maintain an office at such place or places within the state as it <br />may determine; <br /> <br />(f) To acquire, hold, use, and dispose of its income, revenues, funds, and <br />moneys; <br /> <br />(g) To charge, alter, and collect rentals or other charges for the use or <br />services of any project, to contract in the manner provided in this article <br />with one or more persons or governmental agencies or combinations thereof <br />desiring the use or services thereof, and to fix the terms, conditions, rentals, <br />or other charges for such use or services; <br /> <br />(h) To acquire, lease as lessee or lessor, rent, hold, use, and dispose of <br />real or personal property, including water rights, for its purposes; provided, <br />howe~, that the acquisition by the authority of existing decreed water rights <br />of a governmental agency shall not occur without the consent of the affected <br />governmental agency, and that negotiation by the authority for the purchase <br />of water rights shall not proceed without first notifying any affected agency <br />when an existing governmental agency has initiated negotiations for the pur- <br />chase of such rights. The submission of a bona fide offer by a governmental <br />agency for the purchase of such water rights shall be deemed evidence of <br />such initiated negotiations; <br /> <br />(i) To deposit any moneys of the authority in any banking institution <br />within or outside the state; <br /> <br />(j) To fix the time and place or places at which its regular and special <br />neetings are to be held; <br /> <br />(k) (I) To design. develop, acquire, construct. reconstruct. enlarge, <br />~xtend. improve. furnish, equip, maintain. repair, manage, operate, dispose <br />)f, and participate in one or more projects within or without the state, and <br />o appropriate water for said projects; <br /> <br />". __ ,'_ ~_ ._"..,_J~';':~.'-;--'~__ <br /> <br />- <br /> <br />I <br />I <br />'- <br /> <br />Ch. 435 <br /> <br />Water and Irrigation <br /> <br />1799 <br /> <br />(II) To designate the Colorado water conservation bC?ard or, with s~id <br />board's permission, one or more other persons or governmental agenCIes <br />participating in a project to act as its agent, in connection with the designing, <br />development, acquisition, construction, reconstruction, enlargement, exten- <br />sion, improvement, furnishing, equipping, maintenance, repair, management, <br />operation, disposition of, or participation in such projects; and <br /> <br />(Ill) To establish rules and regulations for the use of such projects; <br /> <br />(I) To make available the use or services of any project to One or mOre <br />persons, one or more governmental agencies, or any combination thereof; <br /> <br />(m) To borrow money and to issue its negotiable bonds or notes in fur- <br />therance of its purposes and to provide for the rights of the holders thereof; <br /> <br />(n) To have and exercise the power of eminent domain and, in general, <br />to have and exercise rights and powers of eminent domain conferred upon <br />other agencies as provided in articles I to 7 of title 38, C.R.S. 1973; but <br />the authority shall neither have nor exercise the power of eminent domain <br />against the state. nor acquire thereby any electric generation facilities, elec- <br />tric distribution lines, or any conditional or absolute water rights; <br /> <br />(0) To contract with any person or governmental agency within or without <br />the state for the. construction of any project, or for the sale of the output <br />of any project, or for any interest therein or any right to capacity thereof, <br />on such terms and for such period of time as the board shall determine; <br /> <br />(p) To purchase, sell, exchange, transmit, or distribute the power gener- <br />ated by any project within or without the state, in such amounts as it shall <br />determine to be necessary and appropriate to make the most effective use <br />of its powers and to meet its responsibilities, and to enter into agreements <br />with any person or governmental agency with respect to such purchase, sale, <br />exchange, transmission, or distribution On such terms and for such period <br />of time as the board shall determine; <br /> <br />(q) To purchase, sell, exchange, transmit, or distribute the water of any <br />project within or without the state, subject to the limitation that the water.s_ <br />of the project shall not be delivered outside of the state for purposes other <br />than meeting Colorado compact commitments, in such amounts as it shall <br />determine to be. ne.cessary and appropriate to make the most effective use <br />of its powers and to meet its responsibilities, and to enter into agreements <br />with any person or governmental agency with respect to such purchase, sale, <br />exchange, transmission, or distribution on such terms and for such period <br />of time as the board shall determine; except that such action shall not inter- <br />rupt the development, completion, or operation of existing water projects, <br />nor shall the action adversely affect the ability of a district or governmental <br />agency from fulfilling its contractual commitments associated with such <br />projects; <br /> <br />(r) To make loans to any governmental agency for the planning, designing, <br />acquiring, constructing, reconstructing, improving, equipping, and furnishing <br />of a project, which loans may be secured by loan and security agreements, <br />leases, or any other instruments. upon such terms and conditions as the board <br />shall deem reasonable, including provisions for the establishment and mainte- <br />nance of reserve and insurance funds, and to require the inclusion. in any <br />