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<br />CWCB Construction Fund Statutes
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<br />37-60-119. Construction of water and power facilities
<br />contracts with and charges against users. (1) In order to
<br />promote the general welfare and safety of the citizens of this
<br />state, _the board may, subject to the provisions in section
<br />37-60-122, construct, rehabilitate, enlarge, or improve, or loan
<br />moneys to enable the construction, rehabilitation; enlargement
<br />or improvement of, such flood control, water supply, and
<br />hydroelectic energy facilities, together with related
<br />recreational facilities, in whole or in part, as will, in the
<br />opinion of the board, abate floods or conserve, effect more
<br />efficient use of, develop, or protect the water and hydroelectric
<br />energy resources and supplies of the state of Colorado. In
<br />carrying out such program, the board is directed to place special
<br />emphasis upon the adoption and incorporation of measures which
<br />will encourage the conservation and more efficient use of water,
<br />including the installation of water meters or such other
<br />measuring and control devices as the board deems appropr"iate in
<br />each particular case.
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<br />(2) The board may, subject to the prov~s~ons in section
<br />37-60-122, enter into contracts for the use of, or to loan moneys
<br />to enable the construction, rehabilitation, enlargement, or
<br />improvement of, said flood control, water, power, and any related
<br />recreational facilities, with any agency or political subdivision
<br />of this state or the federal government, with individuals, with
<br />corporations, or with organizations composed of citizens of this
<br />state. Any such contracts may provide for such charges to the
<br />using entity as, in the opinion of the board, are necessary and
<br />reasonable to recover the board's capital investment, together
<br />with operational, maintenance, and interest charges over the term
<br />of years agreed upon by contract.- Interest charges shall be
<br />assessed at no less than five percent. Any such charges so
<br />collected shall be credited to and made a part of the Colorado
<br />water conservation board construction fund: Allor any portion
<br />of the costs attributable to flood control and recreation may be
<br />considered nonreimbursable in the discretion of the board, but
<br />only to the extent approved by the general assembly as specified
<br />in section 37-60-122.
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<br />37-60-120. Control of projects - contractual powers of
<br />board. (1) The state of Colorado shall have the ownership and
<br />control of such portions of said projects, or shall take a
<br />sufficient security interest in property or take such bonds,
<br />notes, or other securities evidencing an obligation, as will
<br />assure repayment of funds made available by section 37-60~119.
<br />The board is empowered to enter into contracts which are, in its
<br />opinion, necessary for the maintenance and continued operation of
<br />such projects.
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<br />leg
<br />con/fund
<br />10/24/85
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