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<br />Section 37-60-119(2), c.R.S., sets forth the type of projects the CWCB can loan -- <br />money for and specifically includes the "construction, rehabilitation, enlargement, or tit <br />improvement of ...flood control.. facilities. " Section 37-60-122 requires approval of <br />CWCB loans by the General Assembly. <br /> <br />It seems to follow therefore, that the Board already has the authority to make <br />loans for flood control projects by way of the STTFPBA. It's clear that the funds must be <br />used for loans and not grants, but the authorization appears to be in place. The Attorney <br />General's Office has reviewed this argument and concurs with its logic, <br /> <br />It should also be noted that Section 37-60-1 22(I)(a), C.R.S.. states the Board shall <br />prepare a list of suggested project loans authorized by Section 37-60-119 in priority order <br />to be recommended to the General Assembly. This gives'the Board the opportunity to <br />determine how much total funding is available in the STTFPBA for loans in any given <br />year and decide how much money to provide for flood control loans. <br /> <br />Conclusions and Recommendations <br /> <br />The Board clearly has statutory authority to allocate up to 5% of the annual <br />Construction Fund revenues for flood control projects, Since the Board already appears <br />to also have the authority to make flood control loans from the STTFPBA, it is the staff <br />recommendation that the Board not recommend to the General Assembly to amend <br />Section 37-60-121, butrather use the STTFPBA as a supplemental source for funding _, <br />flood control projects. . <br /> <br />et. <br /> <br />Jan2000,5bmemo <br />