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<br />- 3- <br /> <br />Eliminates confusing language relative to financing feasibility studies, references to <br />repealed statute paragraphs, and unclear financial authorization amounts. <br /> <br />37-60-122(1)(c) Colorado Revised Statutes. is amended to read: <br /> <br />. General assembly approval. <br /> <br />(I) Moneys in the Colorado water conservation board construction fund shall be expended in the <br />following manner and under the following circumstances: <br /> <br />(a) Repealed. <br /> <br />(b) The general assembly may authorize such proj ects as it deems to be to the advantage of the <br />people ofthe state of Colorado and shall direct the board to proceed with said projects in the <br />priorities established by the general assembly under terms approved by the general assembly. The <br />board is authorized to make loans without general assembly approval in amounts not to exceed <br />one million dollars. The unappropriated balance of moneys in the Colorado water conservation <br />board construction fund and the state severance tax trust fund perpetual base account shall be <br />available and continuously appropriated for this purpose. The board shall submit a written <br />determination of the basis for such project loans to the general assembly by January 15 of the <br />year following the year in which the loan was made. <br /> <br />(c) In order to determine the economic and engineering feasibility of any project proposed to be <br />constructed from funds provided in whole or in part from the Colorado water conservation board <br />construction fund, the board shall cause a feasibility report to be prepared on such proposed <br />project if, in the discretion of the board, it appears to qualify for consideration under section 37- <br />60-119. The board may also cause a feasibility report to be prepared on any other water project <br />proposed in this state whether funded by the Colorado water conservation board construction <br />fund or by any other source or entity or federal or state agency, and the board shall cooperate with <br />any such entity or federal or state agency in the planning of such project. The board shall also <br />cause any feasibility study to be made at the direction ofthe general assembly. For all such <br />feasibility investigations, the board is authorized to LOAN, commit or expend on a continuing <br />basis tell fler.eellt of the moneys appropriated, credited, or etherv:ise aflfllied to the construction <br />fund authorized by section 37-60-121. prior te the execlItioll aIld aflflro','al of allY centraet <br />callteHlfllated by paFagfllflh (a) af this sooseetioll (I); e)(eept that the eest of allY feasibility <br />illvestigatioll shall be eellsidered a part of the tetal prejeet eest ifslleh flreject is sooseq1l81ltly <br />cOllstrlleted. <br /> <br />Discussion <br /> <br />Elimination ofthe above language and adding the "LOAN' term clarifies a confusing paragraph <br />and gives the Board more flexibility in making loans or grants for feasibility studies. Eliminating the <br />amount of money referenced by "ten percent of the moneys appropriated, ..... Construction Fund" <br />removes a number that can't be calculated and gives the Board the latitude to use the existing Small <br />Feasibility Study Grant Fund or make a loan for a large study. This revision also cleans up the <br />reference to the repealed paragraph (a). <br />Flood Protection. Water Project Planning and Financing. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />