BOARD01810

• Board Meeting Date: 5/22/1995
• Description: Agenda or Table of Contents, Minutes, Memos
• Board Meetings - Doc Type: Meeting

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resources account, construct ion fund, and authority as moneys
become avail ab 1 e in the general fund duri ng the, fi sca 1 year
beginning on said July 1. Transfers between funds pursuant to
this subsection (6) and subsection (7) of this section shall not
be deemed to be appropri at ions subject to the 1 imi tat ions of
section 24-75-201.1, C.R.S. Subject to the provisions of
subsection (7) of this section, the amount which shall accrue
pursuant to this subsection (6) shall be as follows:

(d) On July I, 1994, thirty mill ion dollars. In
distributing said sum, the formula in the introductory portion to
this subsection (6) shall not apply, and said sum shall accrue as
follows:

(II) (A) Four mill ion five hundred fifty-two thousand nine
hundred sixty dollars to the fish and wildlife resources account
in the Colorado water conservation board construction fund;

(B) TWO HUNDRED SEVENTY-EIGHT THOUSAND EIGHT HUNDRED
TWENTY-EIGHT DOLLARS OF THE SUM SPECIFIED IN SUB-SUBPARAGRAPH (A)
OF THIS SUBPARAGRAPH (II) MAY BE EXPENDED EXCLUSIVELY FOR PURPOSES
RELATED TO THE WOLFORD MOUNTAIN RESERVOIR PROJECT, PREVIOUSLY
KNOWN AS THE "MUDDY CREEK PROJECT".

SECTION 12. Article 60 of title 37, Colorado Revised
Statutes, 1990 Repl. Vol., as amended, is amended BY THE ADDITION
OF THE FOLLOWING NEW SECTIONS to read:

37-60-122.7. Small project loan account - creation.
(1) THERE IS HEREBY CREATED IN THE STATE TREASURY AS PART OF THE
COLORADO WATER CONSERVATION BOARD CONSTRUCTION FUND THE SMALL
PROJECT LOAN ACCOUNT. THE STATE TREASURER IS HEREBY AUTHORIZED
AND DIRECTED TO TRANSFER TWO MILLION DOLLARS FROM THE WATER
CONSERVATION BOARD CONSTRUCTION FUND TO THE SMALL PROJECT LOAN
ACCOUNT.

(2) (a) THE COLORADO WATER CONSERVATION BOARD IS AUTHORIZED
TO MAKE LOANS FROM THE SMALL PROJECT LOAN ACCOUNT IN A MAXIMUM
AMOUNT OF ONE HUNDRED THOUSAND DOLLARS FOR SMALL PROJECTS IF IT
DETERMINES THAT DELAY WOULD RESULT IN UNDUE HARDSHIP ON THE
BORROWER. THESE LOANS SHALL NOT REQUIRE PRIOR GENERAL ASSEMBLY
APPROVAL, AND SHALL BE APPROVED BY THE BOARD FOR THE PURPOSE OF
AVOIDING UNDUE DELAY IN COMPLETION OF THE PROJECT.

(b) THE TOTAL AMOUNT OF LOANS FROM THE SMALL PROJECT LOAN
ACCOUNT SHALL NOT EXCEED ONE MILLION DOLLARS IN ANY FISCAL YEAR.

(3) THE BOARD. SHALL SUBMIT TO THE GENERAL ASSEMBLY A
WRITTEN DETERMINATION OF THE BASIS FOR EACH LOAN FROM THE SMALL
PROJECT LOAN ACCOUNT NOT LATER THAN DECEMBER I OF THE YEAR IN
WHICH THE LOAN WAS MADE.

PAGE II-HOUSE BILL 95-1155