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<br />Amendments to Reflect Board Policy Regarding the Loan of Funds and the Completion of
<br />the OWC Grant Program
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<br />37-60-119(2) and (3) Colorado Revised Statutes. is amended to read:
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<br />l) In order to promote the general welfare and safety oHhe citizens of this state and to protect
<br />the allocation of interstate waters to the state, the board may, subj ect to the provisions in
<br />section 37-60-122, construct, rehabilitate, enlarge, or improve, or loan moneys to enable the
<br />construction, rehabilitation, enlargement, or improvement of, such flood control, water
<br />supply, and hydroelectric energy facilities, excluding domestic water treatment and
<br />distribution systems, together with related recreational facilities, in whole or in part, as will,
<br />in the opinion oHhe board, abate floods or conserve, effect more efficient use of, develop, or
<br />protect the water and hydroelectric energy resources and supplies of the state of Colorado, In
<br />carrying out such program, the board is directed to place special emphasis upon the adoption
<br />and incorporation of measures which will encourage, the conservation and more efficient use
<br />of water, including the installation of water meters or such other measuring and control
<br />devices as the board deems appropriate in each particular case,
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<br />(2) The board may, subject to the provisions in section 37-60-122, enter into contracts for the use
<br />of, or to loan moneys to enable the construction, rehabilitation, enlargement, or improvement
<br />of, said flood control, water, power, and any related recreational facilities, excluding
<br />domestic water treatment and distribution systems, with any agency or political subdivision
<br />of this state or the federal government, with individl1als, with corporations, or with .
<br />organizations composed of citizens of this state, Any such contracts may provide for such
<br />charges to the using entity as, in the opinion of the board, are necessary and reasonable to
<br />recover the board's capital investment, together with operational, maintenance, and interest
<br />charges over the term of years agreed upon by contract. Interest charges shaH be
<br />recommended by the board at between zero and seven percent 011 the baais of the proj oct
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<br />of the water supplies oCthe state, ,nterest charges shall be credited to the Colorado water
<br />conservation board construction fund, Anv such other charges, as determined appropriate
<br />b J the board shall be a ro riated to the Colorado, water conserv tion board or use in
<br />Sit ,lementin T the Board's a, ro riations rom the General Fund,
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<br />OOllatmctioll fund,
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<br />(3) To promote the efficieRt ITlllflagam0Rt and operetiallof l\grieltltaralllfld maltiplli"posa water
<br />ayste,ms, t13,e board is authorized to expend up tefive hunclrecl. thousancl. dollars as
<br />dem.enstration grants on a fifty percent eost sharillg ~asis ['Or proj acts to irnpro'le water
<br />managem.0Rt er to reEk:ee the operatiol'lal eests Elf suGh systems,
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<br />Discussion
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<br />The revisions to (2) relative to interest charges pertain to the fact that interest rates are
<br />now set by the Board based on the average of the "A" rated municipal bond and the type of .
<br />borrower (commercial, municipal or agricultural) applying for a loan, The statewide significance
<br />of the project and the borrower's ability to pay is, generally not a factor in the Board's
<br />determination of interest rates,
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