<br />1798
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<br />Water and Irrigation
<br />
<br />Ch. 435
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<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.
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<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.
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<br />37-95-106. Authority. powers. (I) Except as otherwise limited by this
<br />article, the authority, acting through the board, has the power:
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<br />(a) To have the duties, privileges, immunities, rights, liabilities, and dis-
<br />abilities of a body corporate and political subdivision of the state;
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<br />(b) To sue and be sued;
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<br />(c) To have an official seal and to alter the same at pleasure;
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<br />(d) To make and alter bylaws for its organization and internal manage-
<br />ment and for the conduct of its affairs and business;
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<br />(e) To maintain an office at such place or places within the state as it
<br />may determine;
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<br />(f) To acquire, hold, use, and dispose of its income, revenues, funds, and
<br />moneys;
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<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;
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<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;
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<br />(i) To deposit any moneys of the authority in any banking institution
<br />within or outside the state;
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<br />(j) To fix the time and place or places at which its regular and special
<br />neetings are to be held;
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<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;
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<br />Ch. 435
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<br />Water and Irrigation
<br />
<br />1799
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<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
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<br />(Ill) To establish rules and regulations for the use of such projects;
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<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;
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<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;
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<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;
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<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;
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<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;
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<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;
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<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
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