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<br />(II) TO OPPOSE AN APPLICATION OF A FEDERAL AGENCY FOR AN IN-STREAM FLOW <br />RIGHT THAT IS NOT IN COMPLIANCE WITH COLORADO LAW FOR ESTABLISHING IN-STREAM <br />FLOW RIGHTS. <br /> <br />(6) As ofJuly I, 1988, and July I of each year thereafter through July I, 1996, fifty percent of the sum <br />specified in this subsection (6) shall accrue to the fish and wildlife resources account, which account is hereby <br />created in the Colorado water conservation board construction fund, twenty-five percent of such sum shall <br />accrue to the Colorado water conservation board construction fund, and twenty-five percent of such sum shall <br />accrue to the Colorado water resources and power development authority. The state treasurer and the controller <br />shall transfer such sum out of the general fund and into said fish and wildlife resources account, construction <br />fund, and authority as moneys become available in the general fund during the fiscal year beginning on said <br />July I. Transfers between funds pursuant to this subsection (6) and subsection (7) of this section shall not be <br />deemed to be appropriations subject to the limitations of section 24-75-201.1, C.R.S. Subject to the provisions <br />of subsection (7) of this section, the amount which shall accrue pursuant to this subsection (6) shall be as <br />follows: <br /> <br />(d) On July I, 1994, thirty million dollars. In distributing said sum, the formula in the introductory portion <br />to this subsection (6) shall not apply, and said sum shall accrue as follows: <br /> <br />(II) (A) Four million five hundred fifty-two thousand nine hundred sixty dollars to the fish and wildlife <br />resources account in the Colorado water conservation board construction fund; <br /> <br />(B) TWO HUNDRED SEVENTY-EIGHT THOUSAND EIGHT HUNDRED TWENTY-EIGHT <br />DOLLARS OF THE SUM SPECIFIED IN SUB-SUBPARAGRAPH (A) OF THIS SUBPARAGRAPH (II) <br />MAYBE EXPENDED EXCLUSIVELY FOR PURPOSES RELATED TO THE WOLFORD MOUNTAIN <br />RESERVOIR PROJECT, PREVIOUSLY KNOWN AS THE "MUDDY CREEK PROJECT". <br /> <br />SECTION 12. Article 60 of title 37, Colorado Revised Statutes, 1990 Repl. Vol., as amended, is amended <br />BY THE ADDITION OF THE FOLLOWING NEW SECTIONS to read: <br /> <br />37-60-122.7. Small project loan account - creation. (I) THERE IS HEREBY CREATED IN THE <br />STATE TREASURY AS PART OF THE COLORADO WATER CONSERVATION BOARD <br />CONSTRUCTION FUND THE SMALL PROJECT LOAN ACCOUNT. THE STATE TREASURER IS <br />HEREBY AUTHORIZED AND DIRECTED TO TRANSFER TWO MILLION DOLLARS FROM THE <br />WATER CONSERVATION BOARD CONSTRUCTION FUND TO THE SMALL PROJECT LOAN <br />ACCOUNT. <br /> <br />(2) (a) THE COLORADO WATER CONSERVATION BOARD IS AUTHORIZED TO MAKE LOANS <br />FROM THE SMALL PROJECT LOAN ACCOUNT IN A MAXIMUM AMOUNT OF ONE HUNDRED <br />THOUSAND DOLLARS FOR SMALL PROJECTS IF IT DETERMINES THAT DELAY WOULD RESULT <br />IN UNDUE HARDSHIP ON THE BORROWER. THESE LOANS SHALL NOT REQUIRE PRIOR <br />GENERAL ASSEMBLY APPROVAL, AND SHALL BE APPROVED BY THE BOARD FOR THE <br />PURPOSE OF AVOIDING UNDUE DELAY IN COMPLETION OF THE PROJECT. <br /> <br />(b) THE TOTAL AMOUNT OF LOANS FROM THE SMALL PROJECT LOAN ACCOUNT SHALL <br />NOT EXCEED ONE MILLION DOLLARS IN ANY FISCAL YEAR. <br /> <br />(3) THE BOARD SHALL SUBMIT TO THE GENERAL ASSEMBLY A WRITTEN <br />DETERMINATION OF THE BASIS FOR EACH LOAN FROM THE SMALL PROJECT LOAN ACCOUNT <br />NOT LATER THAN DECEMBER I OF THE YEAR IN WHICH THE LOAN WAS MADE. <br /> <br />http://www.state.co.us/gov_dir/leg_dir/olls/s1l995/sI.117.htm <br /> <br />06/05/2002 <br />