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<br />. Project -- Phase 2 7,500,000 40 l7,484,OOO <br />9 NOrth Poudre No. 2 <br /> Reservoir* 250,000, 40 582,800 <br />10 Cl ark Lake* 500,000 40' 1,l65,600 <br /> Total $12,927,500 $30,100,240 <br /> <br />* The moneys for this project shall not be made available by <br />the board until the board has, in its sole discretion, <br />determi ned that the project is techni ca lly and fi nanci ally <br />feasible. <br /> <br />(2) The Colorado water conservation board may make loans <br />for the construction of each project specified in subsection <br />(l) of this section from such moneys as are or may hereafter <br />become available to the Colorado water conservation board <br />construction fund, said loans to be in the amounts listed in <br />subsection (1) of this section plus or minus such amounts, if <br />any, as may be justified by reason of ordinary fluctuations in <br />construction costs as indicated by the engineering cost <br />indices applicable to the types of construction involved for <br />such projects or as may be justified by reason of changes made <br />in the plans for a project if those changes are required by <br />final engineering drawings and specifications or by federal or <br />state requirements. <br /> <br />. <br /> <br />(3) Contracts entered into by the Colorado water <br />conservation board pursuant to section 37-60-119 (2), Colorado <br />Revised Statutes, for loans to enable the construction of the <br />projects specified in subsection (1) of this section shall be <br />subject to the repayment periods and total repayments set <br />forth in subsection (1) of this section; except that total <br />repayments shall be adjusted to reflect any changes in <br />expenditures made pursuant to subsection (2) of this section. <br /> <br />. <br /> <br />(4) The Colorado water conservation board is authori~ed <br />to expend not more than one million dollars of the loan <br />authorized in subsection (1) of this section to prepare <br />feasibility reports on the various components of the San <br />Miguel water conservancy district project -- phase 2; except <br />that any amount expended by the board on feasibility reports <br />need not be repaid unless the portion of the project to which <br />a report is addressed is in fact constructed. The moneys for <br />construction of this project shall not be made available by <br />the board until the board has, in its sole discretion, <br />determined that the project or any portion thereof is <br />technically and financially feasible. <br /> <br />SECTION 2. Section 4 (1) (a) of chapter In. Session <br />Laws of Colorado 1982, as amended by section 6 of chapter 405, <br />Session Laws of Colorado 1983, is amended to read: <br /> <br />Section 4. Project authorizations. (1) (a) Pursuant to <br /> <br />PAGE 2-HOUSE BILL NO. l042 <br />