BOARD01682

• Board Meeting Date: 1/27/2004
• Description: Updated 2004 State Legislative Issues
• Board Meetings - Doc Type: Memo

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1-14-04

Priority

Borrower-Project

Double underlininR
denotes changes [rom
Loan Amount oriordraft

I
2
3
4
5

(a)

Colorado River Water

Conservation District -

Elkhead Reservoir Enlargement

Total

$ 11.110,000
$ 11,110,000

6 (2) The Colorado water conservation board may make loans for
7 the construction of the projects specified in subsection (1) of this section

8 from revenues that are or may hereafter become available to the

9 severance tax trust fund perpetual base account. The loans shall be in the

10 amounts listed in subsection (1) of this section, plus or minus such

II amounts, if any, as may be justified by reason of ordinary fluctuations in

12 construction costs as indicated by the engineering cost indices applicable

13 to the types of construction required for each project or as may be

14 justified by reason of changes in the plans for a project due to differing

15 or unforeseen site conditions, errors or omissions in the plans and

16 specifications, changes instituted by regulatory agencies, or changes in
17 material quantities beyond contract limits.

18 (3) Pursuant to section 37-60-120 (1), Colorado Reyised Statutes,

19 the board shall require such terms and conditions in the contracts as will

20 ensure repayment of funds made available by it. The board shall not
21 disburse any moneys for any loan authorized by subsection (1) of this

22 section unless and until the board is satisfied, in its sole discretion, that

23 the recipient of any such loan will be able to make repayment pursuant
24 to the terms and conditions established by the board and by subsection (I)
25 of this section.

26

SECTION 3.

Decreases to prior water project loan

27 authorizations from the Colorado water conservation board

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