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<br />- 2- <br /> <br />Fund Perpetual Base Account that finance the purchase of water rights or existing <br />wells. <br /> <br />37-60-119(1) Colorado Revised Statutes, is amended to read: <br /> <br />37-60-119. Construction of water and power facilities - contracts with and charges against <br />users. <br /> <br />(1) In order to promote the general welfare and safety ofthe citizens of this state and to protect the <br />allocation of interstate waters to the state, the board may, subject to the provisions in section 37-60- <br />12_2, construct, rehabilitate, enlarge, or improve, or loan moneys TO PURCHASE WATER <br />RIGHTS OR to enable the construction, rehabilitation, enlargement, or improvement of, such flood <br />control, water 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, in the <br />opinion of the board, abate floods or conserve, effect more efficient use of, develop, or protect the <br />water and hydroelectric energy resources and supplies of the state of Colorado. In carrying out such <br />program, the board is directed to place special emphasis upon the adoption and incorporation of <br />measures which will encourage the conservation and more efficient use of water, including the <br />installation of water meters or such other measuring and control devices as the board deems <br />appropriate in each particular case. <br /> <br />Discussion <br /> <br />In response to concems from the State Auditor questioning whether Article 60 of Title 37, <br />C.R.S. authorizes loans that fl11ance the purchase of water rights or existing wells, the CWCB requested <br />an opinion from the Attomey General's Office. The August 24, 1999 opinion from Ken Salazar, <br />Attomey General (attached) concluded that the CWCB has acted lawfully in making Construction Fund <br />loans for the purchase of water rights. The statute however does not specifically state that the purchase <br />of water rights is an authorized use ofthe Construction FWld. By addition of the language shown above <br />in bold, the Board's interpretation of the statute regarding authorization ofloans from the Construction <br />Fund for the purchase of water rights will no longer be questioned. <br /> <br />Eliminates confusing language relative to financing feasibility studies, references to <br /> <br />Flood Protection. Water Project Planning and Financing. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />