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<br />(4) THE MONEYS IN THE SMALL PROJECT LOAN ACCOUNT ARE HEREBY CONTINUOUSLY <br />APPROPRIATED TO THE BOARD FOR LOANS IN COMPLIANCE WITH THIS SECTION. ALL <br />INTEREST DERIVED FROM THE INVESTMENT OF MONEYS IN THE SMALL PROJECT LOAN <br />ACCOUNT SHALL BE CREDITED TO THE COLORADO WATER CONSER VA TION BOARD <br />CONSTRUCTION FUND. ANY BALANCE REMAINING IN THE SMALL PROJECT LOAN ACCOUNT <br />AT THE END OF ANY FISCAL YEAR SHALL REMAIN IN THE ACCOUNT AND SHALL NOT <br />REVERT TO THE COLORADO WATER CONSERVATION BOARD CONSTRUCTION FUND. <br /> <br />37-60-129. Availability offunds. MONEYS APPROPRIATED OR AUTHORIZED TO THE BOARD <br />FROM THE COLORADO WATER CONSERVATION BOARD CONSTRUCTION FUND SHALL <br />REMAIN AVAILABLE TO THE BOARD FOR THE ORIGINAL PURPOSES, UNLESS DEAUTHORIZED <br />BY THE LEGISLATURE, UNTIL ANY PROJECT FOR WHICH THE MONEYS WERE APPROPRIATED <br />OR AUTHORIZED IS COMPLETED. <br /> <br />37-60-130. Arkansas river augmentation loan account - creation. (I) THERE IS HEREBY <br />CREATED IN THE STATE TREASURY AS PART OF THE COLORADO WATER CONSERVATION <br />BOARD CONSTRUCTION FUND THE ARKANSAS RIVER AUGMENTATION LOAN ACCOUNT. THE <br />STATE TREASURER IS HEREBY AUTHORIZED AND DIRECTED TO TRANSFER ONE MILLION <br />FIVE HUNDRED THOUSAND DOLLARS FROM THE WATER CONSERVATION BOARD <br />CONSTRUCTION FUND TO THE ARKANSAS RIVER AUGMENTATION LOAN ACCOUNT. <br /> <br />(2) THE BOARD IS HEREBY AUTHORIZED TO EXPEND UP TO ONE MILLION FIVE HUNDRED <br />THOUSAND DOLLARS FROM THE ARKANSAS RIVER AUGMENTATION LOAN ACCOUNT FOR <br />THE PURPOSE OF MAKING LOANS TO ORGANIZATIONS OR ENTITIES FOR THE PURCHASE OF <br />AUGMENTATION WATER OR THE RIGHTS TO SUCH WATER TO REPLACE OUT-OF-PRIORITY <br />DEPLETIONS TO SURFACE WATER RIGHTS AND TO PREVENT MATERIAL DEPLETIONS OF <br />USABLE STATELINE FLOWS IN VIOLATION OF THE ARKANSAS RIVER COMPACT. <br /> <br />(3) THE BOARD SHALL APPROVE OR DENY APPLICATIONS FOR LOANS, AFTER <br />CONSULTING WITH THE ARKANSAS RIVER COORDINATING COMMITTEE CONCERNING SUCH <br />APPLICATIONS, BASED UPON CRITERIA INCLUDING BUT NOT LIMITED TO WHETHER THE: <br /> <br />(a) SOURCE OF AUGMENTATION WATER IS FROM A RELIABLE, PERMANENT SUPPLY; <br /> <br />(b) APPLICANT HAS ADEQUATE SECURITY OR COLLATERAL TO ASSURE REPAYMENT; <br /> <br />(c) APPLICANT HAS THE ABILITY TO REPAY THE LOAN AT AN INTEREST RATE AND OVER <br />A PERIOD OF TIME AS SET BY THE BOARD; <br /> <br />(d) APPLICANT IS ABLE TO COLLECT PAYMENTS FOR THE AUGMENTED WATER FROM ITS <br />MEMBERS; <br /> <br />(e) LOAN WILL SERVE THE NEEDS OF A BROAD GROUP OF USERS RATHER THAN A <br />SPECIFIC USER; <br /> <br />(f) LOAN WILL ASSIST IN MAINTAINING THE AGRICULTURAL VIABILITY OF THE <br />ARKANSAS RIVER VALLEY; <br /> <br />(g) APPLICANT OBTAINS COMMITMENTS FROM ITS MEMBERS THAT ANY SUCH MEMBER <br />WHO FAILS TO MAKE PAYMENTS IN ACCORDANCE WITH THE LOAN AGREEMENT SHALL <br /> <br />http://www.state.co.us/gov_dir/leg_dir/olls/sI1995/sI.I17.htm <br /> <br />06/05/2002 <br />