BOARD01810

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

(4) THE MONEYS IN THE SMALL PROJECT LOAN ACCOUNT ARE HEREBY
CONTINUOUSLY APPROPRIATED TO THE BOARD FOR LOANS IN COMPLIANCE
WITH THIS SECTION. ALL INTEREST DERIVED FROM THE INVESTMENT OF
MONEYS IN THE SMALL PROJECT LOAN ACCOUNT SHALL BE CREDITED TO THE
COLORADO WATER CONSERVATION BOARD CONSTRUCTION FUND. ANY BALANCE
REMAINING IN THE SMALL PROJECT LOAN ACCOUNT AT THE END OF ANY
FISCAL YEAR SHALL REMAIN IN THE ACCOUNT AND SHALL NOT REVERT TO
THE COLORADO WATER CONSERVATION BOARD CONSTRUCTION FUND.

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37-60-129. Availability of funds. MONEYS APPROPRIATED OR
AUTHORIZED TO THE BOARD FROM THE COLORADO WATER CONSERVATION BOARD
CONSTRUCTION FUND SHALL REMAIN AVAILABLE TO THE BOARD FOR THE
ORIGINAL PURPOSES, UNLESS DEAUTHORIZED BY THE LEGISLATURE, UNTIL
ANY PROJECT FOR WHICH THE MONEYS WERE APPROPRIATED OR AUTHORIZED
IS COMPLETED.

37-60-130. Arkansas river augmentation loan account -
creation. (1) THERE IS HEREBY CREATED IN THE STATE TREASURY AS
PART OF THE COLORADO WATER CONSERVATION BOARD CONSTRUCTION FUND
THE ARKANSAS RIVER AUGMENTATION LOAN ACCOUNT. THE STATE TREASURER
IS HEREBY AUTHORIZED AND DIRECTED TO TRANSFER ONE MILLION FIVE
,HUNDRED THOUSAND DOLLARS FROM THE WATER CONSERVATION BOARD
CONSTRUCTION FUND TO THE ARKANSAS RIVER AUGMENTATION LOAN ACCOUNT.

(2) THE BOARD IS HEREBY AUTHORIZED TO EXPEND UP TO ONE
MILLION FIVE HUNDRED THOUSAND DOLLARS FROM THE ARKANSAS RIVER
AUGMENTATION LOAN ACCOUNT FOR THE PURPOSE OF MAKING LOANS TO
ORGANIZATIONS OR ENTITIES FOR THE PURCHASE OF AUGMENTATION WATER
OR THE RIGHTS TO SUCH WATER TO REPLACE OUT-OF-PRIORITY DEPLETIONS
TO SURFACE WATER RIGHTS AND TO PREVENT MATERIAL DEPLETIONS OF
USABLE STATELINE FLOWS IN VIOLATION OF THE ARKANSAS RIVER COMPACT.

(3) THE BOARD SHALL APPROVE OR DENY APPLICATIONS FOR LOANS,
AFTER CONSULTING WITH THE ARKANSAS RIVER COORDINATING COMMITTEE
CONCERNING SUCH APPLICATIONS, BASED UPON CRITERIA INCLUDING BUT
NOT LIMITED TO WHETHER THE:

(a) SOURCE OF AUGMENTATION WATER IS FROM A RELIABLE,
PERMANENT SUPPLY;

(b) APPLICANT HAS ADEQUATE SECURITY OR COLLATERAL TO ASSURE
REPAYMENT;

(c) APPLICANT HAS THE ABILITY TO REPAY THE LOAN AT AN
INTEREST RATE AND OVER A PERIOD OF TIME AS SET BY THE BOARD;

(d) APPLICANT IS ABLE TO COLLECT PAYMENTS FOR THE AUGMENTED
WATER FROM ITS MEMBERS;

(e) LOAN WILL SERVE THE NEEDS OF A BROAD GROUP OF USERS
RATHER THAN A SPECIFIC USER;

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PAGE 12-HOUSE BILL 95-1155

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