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<br />(b) To the extent that the cost of implementing <br />the mitigation recommendation made pursuant to <br />subsection (1) of this section exceeds five percent of the <br />costs of a water diversion, delivery, or storage facility, <br />the board shall, upon the application of the applicant, <br />make a mitigation grant to the applicant. The amount of <br />the grant shall be sufficient to pay for the mitigation <br />recommendation as determined by this section to the <br />extent required above the applicant's five percent share. <br />Any additional enhancement shall be at the discretion <br />and within the means of the board. Under no <br />circumstance shall the total amount of the grant exceed <br />five percent of the construction costs of the project, or <br />be disbursed in installments that exceed seventy percent <br />of the amount of the grant during any fiscal year. Any <br />mitigation cost in excess of ten percent of the <br />construction costs of a project shall be borne by the <br />applicant. <br />(c) An applicant may apply for an <br />enhancement grant by submitting to the commission and <br />the board an enhancement proposal for enhancing fish <br />and wildlife resources over and above the levels existing <br />without such facilities. The commission shall submit its <br />recommendations on the proposal to the board for its <br />consideration. The board, with the concurrence of the <br />commission, may award a grant for fish and wildlife <br />enhancement. Any such enhancement grant will be <br />shared equally by the Colorado water conservation <br />board's fish and wildlife resources fund and the division <br />of wildlife's wildlife cash funds and other funds <br />available to the division. <br />(d) For the purpose of this subsection (2), <br />construction costs means the best estimate of the . <br />physical construction costs as fixed by the Colorado <br />water conservation board as of the date of the grant <br />application. Costs should be limited to design, <br />engineering and physical construction and will not <br />include the costs of planning, fmancing, and <br />environmental documentation, mitigation costs, legal <br />expenses, site acquisition or water rights. <br />(e) Species recovery grants from the fish and <br />wildlife resources fund may be made for the purpose of <br />responding to needs of declining native species and to <br />those species protected under the federal "Endangered <br />Species Act of 1973 ", 16 U.S.C. sec. 1531, et seq., as <br />amended, in a manner that will carry out the state water <br />policy. <br />(f) (Deleted by amendment, 1. 2001, p. 692, ~ <br />28, effective May 30,2001.) <br />(3) Decisions relating to the official state <br />mitigation position made pursuant to paragraph (c) of <br />subsection (1) of this section shall not be subject to <br />judicial review. <br />(4) The board shall distribute mitigation and <br />enhancement grants reasonably and equitably among <br />water basins toward the end that those projects <br />sponsored by beneficiaries east of the continental divide <br />receive fifty percent of the money granted and those <br />projects sponsored by beneficiaries west of the <br /> <br />continental divide receive fifty percent ofthe money <br />granted under this section. <br />(5) The general assembly hereby recognizes <br />the role instream flows and river restoration projects <br />play in mitigating the effects of the construction, <br />operation, and maintenance of water diversion, delivery, <br />and storage facilities. Therefore, the Colorado water <br />conservation board and the operators of existing water <br />diversion, delivery, or storage facilities projects are <br />hereby authorized to apply directly to the board for <br />moneys for projects to carry out the purposes ofthis <br />section. The board is authorized to grant such moneys <br />if it finds that such projects will further the purposes of <br />this section. <br /> <br />37-60-122.4. Horse Creek basin account - creation. <br />(Repealed) <br /> <br />37-60-122.5. Emergency dam repair cash fund. There <br />is hereby created in the state treasury the emergency <br />dam repair cash fund. The state treasurer is hereby <br />authorized and directed to transfer moneys from the <br />Colorado water conservation board construction fund to <br />the emergency dam repair cash fund in such amounts <br />and at such times as determined by the Colorado water <br />conservation board. Such transfers shall not exceed <br />fifty thousand dollars. The moneys in the emergency <br />dam repair cash fund are hereby continuously <br />appropriated to the Colorado water conservation board <br />for the emergency repair of dams pursuant to section <br />37-87-108.5. All moneys collected by the state engineer <br />pursuant to section 37-87-108.5 shall be transmitted to <br />the state treasurer who shall credit such moneys to the <br />Colorado water conservation board construction fund. <br />All interest derived from the investment of moneys in <br />the emergency dam repair cash fund shall be credited to <br />the Colorado water conservation board construction <br />fund. Any balance remaining in the emergency dam <br />repair cash fund at the end of any fiscal year shall <br />remain in the fund. <br /> <br />37-60-122.6. Emergency infrastructure repair cash fund <br />- authorization. (1) There is hereby created in the state <br />treasury the emergency infrastructure repair cash fund, <br />referred to in this section as the "emergency fund". The <br />state treasurer is hereby authorized and directed to <br />transfer two million dollars from the water conservation <br />board construction fund to the emergency fund. The <br />Colorado water conservation board is authorized to <br />make loans from the emergency fund for projects that it <br />determines are necessary to avoid umeasonable risk of <br />injury or damage to human health or well-being or to <br />property or crops when the board also detemunes that <br />the emergency condition is not the result of negligence <br />in the operation or maintenance of the infrastructure. <br />Such emergency projects may provide a partial, <br />temporary, or permanent and complete solution to the <br />emergency condition. However, the viability or success <br />of such emergency proj ects may not be dependent upon <br />further appropriations or loans. Any partial or <br /> <br />60 <br />