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<br />DATE: 03/19/99 TIME: 11:46 AM TO: 3038662115 <br />" <br /> <br />e <br /> <br />e <br /> <br />e <br /> <br />FROM: 303-866-5841 <br /> <br />PAGE: 004-015 <br /> <br />1 <br /> <br />(2) The Colorado water conservation board may make loans for the <br /> <br />2 construction of the projects specified in subsection (1) ofthis section from <br />3 such moneys as are or may hereafter become available to the Colorado <br />4 water conservation board construction fund. Said loans shall be in the <br /> <br />5 amounts listed in subsection (1) of this section plus or minus such amounts, <br />6 if any, as may be justified by reason of ordinary fluctuations in construction <br />7 costs as indicated by the engineering cost indices applicable to the types of <br />8 construction required for each project or as may be justified by reason of <br />9 changes in the plans for a project due to differing or unforeseen site <br />10 conditions, errors or omissions in the plans and specifications, changes <br />11 instituted by regulatory agencies, or changes in material quantities beyond <br />12 contract limits. <br /> <br />13 <br /> <br />(3) Pursuant to section 37-60-120 (1), Colorado Revised Statutes, <br /> <br />14 the board shall require such terms and conditions in such contracts as will <br />15 ensure repayment offunds made available by it. The board shall not disburse <br />16 any moneys for any loan authorized by subsection (1) of this section unless <br />17 and until it is satisfied, at its sole discretion, that the recipient of any such <br />18 loan will be able to make repayment pursuant to the terms and conditions <br /> <br />19 established by the board and by subsection (1) of this section. <br /> <br />20 <br /> <br />SECTION 2. Water project loan authorizations from the <br /> <br />21 severance tax trust fund perpetual base account. (1) Pursuant to section <br /> <br />22 39-29-109 (1) (a) (1), Colorado Revised Statutes, the Colorado water <br /> <br />23 conservation board is hereby authorized to loan moneys from the severance <br />24 tax trust fund perpetual base account to enable the construction of the <br />25 following water resources projects with the following priority: <br /> <br />26 <br /> <br />Priority <br /> <br />Borrower-Project <br /> <br />Loan Amount <br /> <br />Preamended 173 <br /> <br />-3- <br />