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<br />,', <br /> <br />" <br /> <br />. <br /> <br />37-60-121. Colorado water conservation board construction fund - creation of - nature of fund - <br />funds for investigations - contributions - use for augmenting the general fund - funds created. <br /> <br />2.5) (a) The board is authorized to expend, pursuant to continuous appropriation and subject to the <br />requirements of paragraph (b) ofthis subsection (2.5), a total sum not to exceed the balance of the <br />litigation fund, which is hereby created, for the purpose of engaging in litigation: <br /> <br />(1) In support of water users whose water supply yield is or may be diminished or the cost of said yield is <br />or may be materially increased as a result of conditions imposed or that may be imposed, including but <br />not limited to by-pass flows, by any agency of the United States on permits for existing or reconstructed <br />water facilities located on federally owned lands; <br /> <br />(II) To oppose an application of a federal agency for an instream flow right that is not in compliance <br />with Colorado law for establishing instream flow rights; <br /> <br />(III) To defend and protect Colorado's allocations of water in interstate streams and rivers; and <br /> <br />(N) To ensure the maximum beneficial use of water for present and future generations by addressing <br />important questions of federal law, <br /> <br />. <br /> <br />(b) Pursuant to the spending authority set forth in paragraph (a) of this subsection (2,5), moneys may be <br />expended from the litigation fund at the discretion of the board if: <br /> <br />(1) With respect to litigation, the Colorado attorney general requests that the board authorize the <br />expenditure of moneys in a specified amount not to exceed the balance ofthe fund for the costs of <br />litigation associated with one or more specifically identified lawsuits meeting the criteria set forth in <br />paragraph (a) ofthis subsection (2,5); <br /> <br />(II) (Deleted by amendment, L. 2003, p, 1769, S 19, effective May 19, 2003,) <br /> <br />(c) Any interest earned on the moneys in the litigation fund shall be credited on an annual basis to the <br />litigation fund created in paragraph (a) of this subsection (2,5), <br /> <br />(d) The board, in conjunction with the attorney general, shall report annually to the senate agriculture, <br />natural resources, and energy committee and the house ofrepresentatives agriculture, livestock, and <br />natural resources committee on any litigation that involves the use of any moneys from the litigation <br />fund created in paragraph (a) of this subsection (2.5), <br /> <br />(e) Any moneys remaining in the litigation fund at such time as the general assembly acts to close the <br />fund shall be credited to the Colorado water conservation board construction fund created in subsection <br />(1) of this section, <br /> <br />(1) (Deleted by amendment, L. 2001, p, 690, S 27, effective May 30, 2001.) <br /> <br />. <br />