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<br />preference with respect to specified annual water delivery goals be given to projects that give priority to western
<br />slope needs.
<br />Specifies that the board's recommendation to the general assembly shall take the form of a feasibility
<br />study containing certain information and that the board may negotiate and consult with the Colorado housing and
<br />finance authority (authority) in preparing the economic component of the feasibility study and, if feasible, may
<br />recommend to the general assembly that the authority issue bonded indebtedness to finance, wholly or in part, the
<br />integrated water infrastructure facilities. Specifies that the general assembly, if it accepts the facilities
<br />recommended by the board, shall approve by bill financing plans for the facilities that provide for either direct
<br />funding by assessing the cost, wholly or in part, through assessments, charges, or fees upon property or citizens
<br />benefited by such facilities, or financing through the issuance of bonded indebtedness by the authority, or both. If
<br />the general assembly approves financing plans that require the issuance of bonded indebtedness by the authority,
<br />requires the general assembly, after due consideration of the recommendation submitted by the board, to specify
<br />by bill the maximum aggregate amount of bonds to be issued, specify whether the bonds are to be issued as
<br />general obligation bonds of the authority, and if not, further specify all revenue streams to be used to make
<br />principal and interest payments on the bonds and defray any costs associated with the issuance of the bonds.
<br />Specifies that bonds issued by the authority are not a debt of the state or legally enforceable against the state and
<br />that a holder of bonds may not look to any revenues of the state for the payment of the bonds.
<br />Requires the board to develop, operate, and maintain integrated water infrastructure facilities if approved
<br />by the general assembly. Authorizes the board to contract out operation of the facilities with the board exercising
<br />ultimate oversight. Requires the board to either acquire and maintain ownership of the facilities to meet specified
<br />requirements or to enter into contracts for the purpose of meeting the requirements. Authorizes the board to issue
<br />water supply contracts for water from the facilities, but grants first priority to the owner of any facility that is
<br />included by the board in whole or in part, in the facilities. Gives water court adjudications arising in connection
<br />with facilities priority over other pending water cases and sets deadlines for adjudicating such cases.
<br />Requires that the board study its current membership and permits it to recommend to the general
<br />assembly the reorganization of the board and changes in its organizational structure in order to carry out the
<br />integrated water infrastructure facilities contemplated under this bill. Provides that any such recommendations
<br />shall be communicated in writing to the general assembly with possible legislative changes to implement such
<br />recommendations.
<br />Authorizes and requires the authority to issue bonds for the purpose of financing approved integrated
<br />water infrastructure facilities in maximum amounts authorized by the general assembly. If all or any portion of
<br />the principal, interest, and costs of bonds are to be paid with revenues derived from the imposition of assessments,
<br />charges, or fees upon property or citizens benefited by the facilities to be financed by the bonds, requires the
<br />authority to consult with, and if necessary enter into agreements with, the board and any political subdivision of
<br />the state that is to impose such assessments, charges, or fees to ensure that the revenues derived from the
<br />assessments, charges, or fees imposed will be sufficient to enable all bond payments to be made in full in a timely
<br />manner.
<br />
<br />Be it enacted by the General Assembly of the State of Colorado:
<br />SECTION 10 Article 60 of title 37, Colorado Revised Statutes, is amended BY THE ADDITION OF A
<br />NEW SECTION to read:
<br />37-60-122.3. Development of Colorado river water supply - legislative declaration - rules. (1) THE
<br />GENERAL ASSEMBLY HEREBY FINDS, DETERMINES, AND DECLARES THAT, TAKING INTO CONSIDERATION
<br />COLORADO'S CYCLES OF DROUGHT AND THE UNRELIABILITY OF NONRENEWABLE GROUNDWATER, IN ORDER TO
<br />PLAN FOR THE GROWTH IN WATER SUPPLY DEMANDS CAUSED BY CYCLES OF DROUGHT ACROSS THE STATE,
<br />WATER INFRASTRUCTURE, IN ADDITION TO THE ALTERNATIVES STUDIED UNDER THE BOARD'S METROPOLITAN
<br />WATER SUPPLY INVESTIGATION, MUST BE EVALUATED. 1HEREFORE, IN ORDER TO MEET THE DEMANDS OF THE
<br />STATE'S CYCLES OF DROUGHT, THE BOARD, UNDER ITS GENERAL WATER PLANNING AUTHORITY, SHALL SOLICIT
<br />PROPOSALS FOR AND RECOMMEND TO THE GENERAL ASSEMBLY BY DECEMBER 15, 2003, THE DEVELOPMENT OF
<br />A PROJECT OR PROJECTS DESIGNED TO ASSIST IN MEETING DROUGHT AND GROWTH-RELATED INCREASES IN
<br />DEMAND. THE BOARD SHALL ONLY RECOMMEND A NEW PROJECT FOR DEVELOPMENT IF ALL EXISTING WATER
<br />INFRASTRUCTURE FACILITIES ARE ALREADY BEING USED TO THE GREATEST FEASIBLE EXTENT. 1HE PROJECT OR
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