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<br />The moneys for this prOject shall <br />by the board until the board has, <br />determined that the project <br />financially feasible. <br /> <br />SECTION 6. Section 1 (2) of chapter 32, Session Laws of <br />Colorado 1987, as amended by section 4 of chapter 257, Session <br />Laws of Colorado 1988, is amended to read: <br /> <br />Section 1. Project authorizations. <br /> <br />(2) The Colorado water conservation board may make loans <br />for the construction of each project specified in subsection <br />(1) 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 />said subsection (1) plus or minus such amounts, if any, as may <br />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. The board's loan for any project <br />specified in subsection (1) of this section shall not exceed <br />fifty percent of the total cost of constructing a project, <br />except for the Rio Grande Ditches and Drains project and th~ <br />Gurley Reservoir project, for which the board's loan may be <br />for up to one hundred percent of those projects' total cost, <br />and except for the Lone Cabin project, for which the board's <br />loan may be for up to e4~Rty NINETY percent of that project's <br />total cost. WITH RESPECT TO THE ROCK CREEK OR MUDDY CREEK <br />DAMS PROJECT, THE BOARD IS AUTHORIZED TO LOAN MONEY FOR THE <br />CONSTRUCTION OF ONE OR THE OTHER OF THESE TWO OAMS, BUT NOT <br />FOR BOTH OF THEM, SAID LOAN NOT TO EXCEED FIFTY PERCENT OF THE <br />TOTAL COST OF CONSTRUCTING ONE OR THE OTHER OF THE DAMS; <br />PROVIDED THAT SAID LOAN SHALL BE REDUCED BY THE AMOUNT OF ANY <br /> <br />.1 <br /> <br />* <br /> <br />''\ <br />-;",Y <br /> <br />'" <br /> <br />. <br /> <br />12 <br /> <br />Rio Grande <br />Ditches & <br />Drains* 250,000 40 582,BOO <br />Fort Morgan <br />Reservoir & <br />Irrigation <br />Company <br />Oiversion <br />Structure <br />Repair* 50,000 40 116 , 560 <br /> $i,6Tn7T9QQ $2&TQQ&T9QQ <br />Total $17,786,600 $33,263,444 <br /> <br />13 <br /> <br />not be <br />in its <br />is <br /> <br />made ava 11 ab 1 e <br />sole discretion, <br />technically and <br /> <br />PAGE 5-SENATE BILL NO. 85 <br />