Laserfiche WebLink
<br />. <br /> <br />~, <br /> <br />Construction Fund Bill <br />HB 95-1155 <br />January 17, 1994 <br /> <br />e <br /> <br />SECTIONS 7 THROUGH 9 are changes to previously authorized project loans. In these cases, it is <br />necessary to repeat the original table of projects published in the session laws. This makes the bill much <br />longer. <br /> <br />SECTION 7 adds a footnote to previous legislation that expands the purpose of an authorized <br />project. It authorizes the Dolores Water Conservancy District to borrow up to $375,000 of their 1983 <br />appropriation for a new irrigation .facility in Montezuma County. This project was not envisioned under <br />the original $7 million appropriation for the Dolores Project. <br /> <br />SECTION 8 increases the appropriation in the 1993 legislation to the Town of Norwood, San <br />Miguel County, by $780,000 for a total appropriation of $1,100,000. The town now desires to build a <br />90 acre-foot control reservoir instead of a pipeline; The project will provide an adequate supply of water <br />during the winter. The term of the loan is also increased from 20 to 40 years. <br /> <br />SECTION 9 increases the appropriation to the V ouga Reservoir Association in last years bill by <br />$400,000 for a total appropriation of $750,000. The other terms of the loan remain the same. A <br />$350,000 loan for 75% of the cost to replace the outlet and construct a larger emergency spillway in the e <br />dam for the 492 acre-foot Vouga Reservoir was authorized last year. The project is located on Razor <br />Creek southeast of Gunnison in Saguache County. <br /> <br />SECTION 10 amends Section 60-37-122 of the Board's existing statutory authority to create a <br />"Small Project Loan Account" in the Construction Fund. The account is intended to provide better <br />service to borrowers in cases where the application cycle would cause unnecessary delay for a small <br />project. The maximum single loan would be $100,000, and no more than $1,000,000 in loans could be <br />approved by the Board in any year. A starting balance of $2,000,000 is proposed, and a written annual <br />report to the General Assembly describing the ,terms and basis for each loan is required. <br /> <br />SECTION II is the standard safety clause. <br /> <br />WPS:HB95-1155.DOC <br /> <br />e <br /> <br />6 <br />