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<br />, <br /> <br />Final Draft for Discussion Purposes Only <br /> <br />e <br /> <br />in draft form, and provide the public an opportunity to comment on such changes before adopting <br />them in accordance with these guidelines. <br /> <br />S - REVISING AND UPDATING THE GUIDELINES <br /> <br />Sa - Board Authority - The Board has the authority to revise and update the guidelines at their <br />discretion in response to new and changing needs of the State, and its citizens, or to improve upon <br />the guidelines. <br /> <br />9-LOANSURCHARGE <br /> <br />9a - Imposition of a Loan Surcharge - In accordance with ~37-60-l26 (9a), neither the Board <br />nor the Colorado Water Resources and Power Development Authority (CWRPDA) shall release <br />loan proceeds to a covered entity unless such covered entity provides a copy of the water <br />conservation plan adopted pursuant to the Water Conservation Act of 2004 (hereafter "Act"); <br />except that the Board or the CWRPDA may release such loan proceeds if they determine that <br />unforeseen emergency exists in relationship to the covered entity's loan application, in which <br />case the Board or the CWRPDA, as applicable, may impose a loan surcharge upon the covered <br />entity that may be rebated or reduced if the covered entity submits and adopts a plan in <br />compliance with the Act in a timely manner. Any imposed loan surcharge, and the terms and <br />conditions of such surcharge, will be negotiated with the covered entity during the development <br />of the loan contract with the originator of the loan, either the Board or the CWRPDA, as <br />appropriate. <br /> <br />e <br /> <br />e <br /> <br />5/1212005 <br /> <br />70f8 <br />