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<br />1800
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<br />Water and Irrigation
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<br />Ch. 435
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<br />ease. contract. loan and security agreement, or other instrument, of such
<br />,rovisions for the construction, use, operation, maintenance, and financing
<br />)f a project as the board may deem necessary or desirable;
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<br />(8) To make and enter into all contracts, leases, and agreements which
<br />Ire necessary or incidental to the performance of its duties and the exercise
<br />)f its powers under this article;
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<br />(t) To sell, convey, or lease to any person or governmental agency all
<br />)T any portion of a project for such consideration and upon such terms as
<br />he board may determine to be reasonable;
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<br />(u) To make or cause to be made surveys, maps, and plans for, and esti-
<br />nates of the cost of, any project;
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<br />(v) (1) To acquire, in the name of the authority:
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<br />(A) Any land or other real or personal property, including water rights,
<br />vhich the authority determines is reasonably necessary for a project or for
<br />he relocation or reconstruction of any public road by the authority;
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<br />(B) Any and all right, title, and interest to and in such land and other
<br />eal or personal property, including public lands, reservations, public roads,
<br />Ir parkways owned by or in which the state or any county, municipality,
<br />'ity and county, public corporation, or other political subdivision of the state
<br />las any right, title, or interest;
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<br />(C) Any fee simple absolute or any lesser interest in private property;
<br />nd
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<br />(D) Any fee simple absolute in, or easements upon, or the benefit of
<br />estrictions upon abutting property to preserve and protect the project; except
<br />fIat the authority shall not acquire by purchase or condemnation land, an
<br />lterest in land, or a right-of-way for the change of location of any portion
<br />,f any public road, railroad, point of diversion, or public utility facility which
<br />; not needed for the construction of a project pursuant to this article.
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<br />(11) Acquisitions by the authority pursuant to this paragraph (u) may be
<br />lade by purchase or otherwise, on sudr terms and conditions, and in such
<br />mnner as the authority deems appropriate, or may be made through the exer-
<br />ise of the power of eminent domain pursuant to, and subject to the limita-
<br />ons of, paragraph (n) of this subsection (I).
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<br />(w) To adopt rules and regulations for the use, management, and oper-
<br />tion of the hydroelectric facilities and water management facilities financed
<br />y the authority;
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<br />(x) Subject to any agreement with bondholders or noteholders, to invest
<br />lOneys of the authority not required for immediate lise, including proceeds
<br />~om the sale of any bonds or notes, in such obligations, securities, and other
<br />westments as the authority deems prudent;
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<br />(y) To contract for and to accept any gifts or grants or loans of funds
<br />r property or financial or other aid in any form from the United States or
<br />oy agency or instrumentality thereof, or from the state or any governmental
<br />gency thereof, or from any other source and to comply, subject to the provi-
<br />ions of this article, with the terms and conditions thereof;
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<br />Ch. 435
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<br />Water and Irrigation
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<br />1801
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<br />(z) Subject to any agreements with bondholders or noteho1ders, to pur-
<br />chase bonds or notes of the authority out of any funds or moneys of the
<br />authority available therefor and to hold, cancel, or resell such bonds or notes;
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<br />(aa) To employ accountants, attorneys, financial advisers, underwriters,
<br />and other experts and such other persons to act as agents and employees
<br />as may be required and to determine their qualifications, terms of office,
<br />duties, and compensation, all without regard to the provisions of the state
<br />personnel system; except that the authority may utilize the services of the
<br />officers, personnel, and consultants of the Colorado water conservation
<br />board to perform any or all activities specified in paragraphs (k) and (u) of
<br />this subsection (I);
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<br />(bb) To do and penorm any acts authorized by this article under, through,
<br />or by means of its officers, agents, or employees or by contracts with any
<br />person, firm, or corporation;
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<br />(cc) To procure insurance against any losses in connection with its prop-
<br />erty, operations, personal liability. or assets in such amounts and from such
<br />insurers as it deems desirable;
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<br />(dd) To do any and all things necessary or convenient to carry out its
<br />purposes and exercise the powers given and granted in this article.
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<br />37-95-107. Study of proposed projects - authorization thereof. (I) Before
<br />any proposed project can receive consideration for funding by the authority,
<br />the Colorado water conservation board must first review the feasibility study
<br />of any such proposed project, and the general assembly must authorize the
<br />authority to proceed to consider any proposed project.
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<br />(2) Such feasibility study shall include, but not be limited to, an analysis
<br />of the engineering, economic, and regulatory feasibility of a proposed project.
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<br />(3) Feasibility studies may be initiated by the authority or by the Colorado
<br />water conservation board acting either upon its own volition or at the request
<br />of the authority or of the general assembly.
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<br />(a) When a feasibility study is initiated by the Colorado water conserva-
<br />tion board acting upon its own volition, the board shall incur and pay all
<br />expenses associated with conducting the study, but only to the extent that
<br />moneys are made available to the board for such expenses by the general
<br />assembly. Such moneys shall include those moneys which have been or may
<br />hereafter be appropriated, allocated, or otherwise credited to the Colorado
<br />water conservation board construction fund, notwithstanding the provisions
<br />of 37-60-122 (I) (c). The board shall keep proper and complete records and
<br />accounts showing the amounts so expended on feasibility studies for each
<br />separate proposed project.
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<br />(b) When feasibility studies are initiated by the Colorado water conserva-
<br />tion board at the request of the authority. the authority shall, by contract
<br />with said board, make provision to reimburse said board for the cost of such
<br />feasibility studies.
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<br />(4) Upon receipt of a feasibility study by the Colorado water conservation
<br />board, said board shall review such study and forward the study to the gen-
<br />eral assembly together with its recommendation as to whether or not the pro-
<br />posed project should be authorized by the general assembly.
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