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<br />expend, ON A CONTINUING BASIS, not more than one and one-half <br />percent of the moneys appropriated, . allocated, or otherwise. <br />credited to the Colorado water conservation board construction <br />. fund for-the-f;!eai-year~be9;nn;n9-d~,y-1;-1988;-and-end;n9-~dane <br />.38;--1981; ON JULY 1; .1980, AND THEREAFTER fOr the purposes set <br />forth in paragraph (a) of this subsection N). THE BOARD SHALL <br />. MAKE AN ACCOUNTING OF. ALL SUCH EXPENDITURES INCURRED.- THROUGH. THE <br />END OF THE PREVIOUS FISCAL YEAR IN THE ANNUAL REPORT WHICH IS <br />REQUIRED BY SECTION 37-60-122. <br /> <br />. . SECTION 4.37~60-122 (1) (c) , Colorado Revised Statutes <br />. 1973, as amended, is amended to read: . <br /> <br />37-60-122. General assembly a~proval. (1) (c) In order to <br />determine the economlC and engineerIng feasibility of any project <br />proposed to be ,constructed from. funds provided in whole or in <br />part from the Colorado water. conservation board construction <br />fund, the board shall cause a feasibility report to be prepared <br />.on such proposed project if, in the discretion of the board, it <br />appears to qualify for consideration under section 37-60-119. <br />THE BOARD. MAY ALSO CAUSE A FEASIBILITY REPORT TO BE PREPARED ON <br />ANY OTHER WATER PROJECT.PROPOSEO IN THIS STATE WHETHER FUNDED BY <br />. ,THE COLORADO WATER :CONSERVATION BOARD CONSTRUCTION FUND'OR BY ANY <br />OTHER SOURCE OR ENTITY OR FEDERAL OR STATE AGENCY, AND THE BOARD <br />SHALL COOPERATE WITH ANY SUCH ENTITY OR FEDERAL OR STATE. AGENCY <br />. .IN THE PLANNING OF SUCH PROJECT. . THE BOARD SHALL ALSO CAUSE ANY <br />FEASIBILITY STUDY TO BE MADE AT THE DIRECTION OF . THE ;GENERAL <br />ASSEMBLY. For all such feasibility investigations, the board is <br />authorized to commit or expend.on a continuing basis ten percent <br />of the moneys appropriated, credited',.. or otherwise applied to the <br />construction fund authorized by section 37-60-121 prior to the <br />.. execution. and approval of any contract contetnp lated by paragraph <br />. .. (a) of. this subsection (1); except that.. the. cost of. any <br />feasibility investigation shall be considered a part of the total <br />project cost if such project is subsequently constructed. . <br /> <br />... . SECTION .5.:: Project authorizations.. (1) (a) Pursuant to <br />secti on 37-60..,122 . (1) . (b), Co 1 orado Revised . Statutes 1973, .. . the <br />Co 1 orado water conservati on .. board. .. i s hereby authori zed to <br />construct, or cause to be constructed, the following water <br />. resources. and flood. control. projects: . . <br /> <br /> Payment <br /> Period Total <br />Priority Project Name Board Cost (yrs. ) Payment <br />1. Meadow Creek $ 92,000 40 $ . 214,480 <br />2. Jackson <br /> Reservoir 125,000 40 216,300 <br /> <br />PAGE 4-SENATE BILL NO; 439 <br /> <br />.. <br /> <br />. <br />')' <br /> <br />~.:-. <br />