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<br />" <br /> <br />-" <br /> <br />POLICY NUMBER: 2 <br /> <br />. <br /> <br />SUBJECT: <br /> <br />PROCEDURE FOR ENSURING THE COMPLETION AND <br />APPROVAL OF ADEQUATE CONSTRUCTION FUND <br />PROJECT FEASIBILITY STUDIES PRIOR TO <br />CONTRACTING AND DISBURSEMENT OF LOAN FUNDS <br /> <br />EFFECTIVE DATE: October 1,1999 <br /> <br />POLICY: <br /> <br />The Colorado Water Conservation Board (CWCB), pursuant to <br />Section 37-60-122, C.KS" shall require that all projects funded <br />through the Construction Fund have a completed feasibility study <br />prior to loan or grant consideration by the Board, In those cases <br />where it is impractical to complete the study prior to Board <br />approval and/or General Assembly authorization, the Board may <br />consider a conditional approval, This approval shall be contingent <br />upon completion of a feasibility study by a specified date, In no <br />case will loan or grant funds be disbursed without a completed <br />feasibility study. <br /> <br />PURPOSE: <br /> <br />To present information to the Board to allow it to make decisions <br />about approving a loan or grant funding request from the <br />Construction Fund or the Severance Tax Perpetual Base Account, <br /> <br />. <br /> <br />APPLICABILITY: This policy and procedure applies to ALL loan and grant <br />applications from the CWCB Construction Fund and Severance <br />Tax Perpetual Base Account. <br /> <br />PROCEDURE: All loan and grant applications to be considered by the Board shall <br />be accompanied by a completed feasibility study, All feasibility <br />studies shall be prepared following the general procedures <br />established in the Board's Construction Fund Guidelines. <br /> <br />If it is impractical for the applicant to complete the feasibility study <br />prior to project authorization by the General Assembly, and, <br />available information indicates the project is likely to be feasible, <br />the project may be included on the CWCB recommended approved <br />project list. The project sponsor will be required to complete the <br />feasibility study to the satisfaction of the CWCB Director, or his <br />designee, by an appropriate date recommended by the CWCB staff <br />. and approved by the Board, <br /> <br />. <br />