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this section. SECTION 8. Santa Maria reservoir company - repair Continental reservoir - feasibility study. The Colorado water conservation board is hereby authorized to make a grant to the Santa Maria reservoir company a sum not to exceed thirty thousand dollars ($30,000) and not to exceed fifty percent of the actual total cost to conduct a feasibility study to determine the best method of repair for seepage problems at the Continental reservOir. SECTION 9. Aquatic habitat study - implementation - matching federal funds. The Colorado water conservation board is hereby authorized to spend out of the Colorado water conservation board construction fund a sum not to exceed one hundred thousand dollars ($100,000) to match federal funds in the amount of up to one hundred thousand dollars ($100,000) if such federal funds are made available to the Colorado water conservation board to study or implement cooperative measures for the operation of existing water supply facilities to provide benefits to aquatic habitat without reducing the yield or increasing the cost of such yield to such water supply facilities. This authorization shall terminate if a federal agency imposes requirements for by- pass flows or mandatory releases of water on any existing water supply facility. SECTION 10. Section 1(2) of chapter 230, Session Laws of Colorado 1986, is amended to read: Section I. Project authorizations. (2) The Colorado water conservation board may make loans, grants, or loans and grants for the construction of each project specified in subsection (1) of this section from such moneys as are or may hereafter become available to the Colorado water conservation board construction fund, such loans, grants, or loans and grants to be in the amounts listed in subsection (I) of this section plus or minus such amounts, if any, as may be justified by reason of ordinary fluctuations in construction costs as indicated by the engineering cost indices applicable to the types of construction involved for such projects or as may be justified by reason of changes made in the plans for a project ifthose changes are required by final engineering drawings and specifications or by federal or state requirements. The loan for any project specified in subsection (I) of this section shall not exceed fifty percent of the total cost of constructing a project; EXCEPT THAT THE LOAN FOR THE JUMBO RESERVOIR PROJECT MAY BE UP TO ONE HUNDRED PERCENT OF THE TOTAL COST OF THAT PROJECT. SECTION 11. 37-60-121 (1) (b) (VII), Colorado Revised Statutes, 1990 Repl. Vol., is amended to read: 37-60-121. Colorado water conservation board construction fund - creation of - nature of fund - funds for investigations -contributions - use for augmenting the general fund. (I) (b) In the consideration of making expenditures from the fund, the board shall be guided by the following criteria: (VII) AReI Jtll) 1, 1981, ploj~"t3 Jl'ceiffc8.l1) reI fleoa eentI5l Jtlllll ftot he lec6l'\1ftlcflaed h) the 56fUd 15 tile ,!;flllmal aJ3emill), THE BOARD MAY RECOMMEND TO LOAN FUNDS ON FLOODPLAIN PROJECTS NOT TO EXCEED FIVE PERCENT OF THE ANNUAL PROJECTED REVENUE EARNED BY THE FUND; SECTION 12. 37-60-122.6, Colorado Revised Statutes, 1990 Repl. Vol., as amended, is amended to read: 37-60-122.6. Emergency infrastructure account. (I) There is hereby created in the state treasury as part of the Colorado water conservation board construction fund the emergency infrastructure repair cash account referred to in this section as the" emergency account". The state treasurer is hereby authorized and directed to transfer two million dollars from the water conservation board construction fund to the emergency account. The Colorado water conservation board is authorized to make loans from the emergency account for projects which it determines are necessary to avoid unreasonable risk of injury or damage to human health or well-being or to http://www.state.co.us/gov_dir/leg_dir/olls/sI1994/sI.265.htm 06/05/2002