<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 />1) In order to promote the general welfare and safety of the citizens oftms state and to protect
<br />the allocation of interstate waters to the state, the board may, subject 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 ofthe board, abate floods or conserve, \lffect more efficient use of, develop, or
<br />protect the water and hydroelectric energy resources a;nd 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 metets 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, sllbject to the provisions in sectic)ll 37-60-122, enter into contracts for the use
<br />of, or to loan moneys to enable the construction, reha~i1itation, enlargement, or improvement
<br />of, said flood control, water, power, and any related r\lcreational facilities, excluding
<br />domestic water treatment and distribution systems, with any agency or political subdivision
<br />of this state or the federal government, with indiViduals, 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 contra~t. Interest charges shall be
<br />recommended by the board at between zero and ~eveh percent 0l1. tne basis ofthe projeet
<br />sponsor's ability te pay aa.d the signifioffiloe ofthe prejoe: to the dovelopmell.t lll'\d protection
<br />ofiae water supplies of the state, Interest char osshiJll he credited to the Colorado water
<br />conservation hoard constructionund, An such 0 r char es as determined a ro riate
<br />h the board shall be a ro riated to the Colorado wa conse or use 'n
<br />su lementin the Board's a,), ro riations rom the General Fund,
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<br />co.a.struotioll. fund,
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<br />(3) To promoto tno effieieftt managemeftt and operat-iol1.l,f agrie~lltllral and mltltill\tfjlose water
<br />systoms, the board is authorized to eltpond !Ill tel fivs bUlldrsd thOllSand dollars as
<br />domonstration graa.ts OIl a fifty J:'lereeftt eost sharing aasis for proj eets to illlflrovo water
<br />mllJ3.agement or te reduoe the ejleratiollaJ. eo&ts of sash 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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