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<br />- 3- <br /> <br />repealed statute paragraphs, and unclear financial authorization amounts. <br /> <br />37-60-122(1)(c) Colorado Revised Statutes, is amended to read: <br /> <br />General assembly approval. <br /> <br />(1) Moneys in the Colorado water conservation board construction fund shall be expended in the <br />following manner and under the following circumstances: <br /> <br />(a) Repealed. <br /> <br />(b) The general assembly may authorize such projects as it deems to be to the advantage ofthe <br />people of the state of Colorado and shall direct the board to proceed with said projects in the <br />priorities established by the general assembly under terms approved by the general assembly. The <br />board is authorized to make loans without general assembly approval in amounts not to exceed <br />one million dollars. The unappropriated balance of moneys in the Colorado water conservation <br />board construction fund and the state severance tax trust fund perpetual base account shall be <br />available and continuously appropriated for this purpose. The board shall submit a written <br />determination of the basis for such project loans to the general assembly by January 15 of the <br />year following the year in which the loan was made. <br /> <br />(c) In order to determine the economic and engineering feasibility of any project proposed to be <br />constructed from funds provided in whole or in part from the Colorado water conservation board <br />construction fund, the board shall cause a feasibility report to be prepared on such proposed <br />project if, in the discretion of the board, it appears to qualify for consideration under section ~2:. <br />60-119. The board may also cause a feasibility report to be prepared on any other water proj ect <br />proposed in this state whether funded by the Colorado water conservation board construction <br />fund or by any other source or entity or federal or state agency, and the board shall cooperate with <br />any such entity or federal or state agency in the planning of such project. The board shall also <br />cause any feasibility study to be made at the direction ofthe general assembly. For all such <br />feasibility investigations, the board is authorized to LOAN, commit or expend on a continuing <br />basis~*~~~'~~~~~~~~N~{,~4' the moneys appropriated, ~,~~~~~~~~},,~~,~~~~*~,~i~~~~,~~~~;q~~~ to the construction <br />fund authorized by section 37-60-121. p~:~';:~F~~~-thenm~e~'~:H~*~~EHHKlndfipH~\/1:tlne.f-~H~:V-{:,':;~~~f~:te.:i: <br /> <br />':':;':;~~~*Hf~~~;(d~~1'~~)':~f*H:~~~~f~*ffi~~,~~~~~,{4:'~ft~'~'~~*~~~~~~;{~{Y"++~t~~+'~~~{:~~4'{~~d{'{~~3'{;':;m';.,,:;t:~~~YY~'N~~t;~.h~~~~~tJ' <br />i~~,,;e;S:i:~-g~:+~~~EHhi:~~*n-~:i~:'-~~{H~;sidef~~d-~:f-{1-~W;:-~~fthe+::+~i~npH~~~~:,t-,:~y\+-~f-~b'{:'f_t-Vf'::~{:~~;~_'_~;sn~Hb~~~I~:~e~::~H~-y: <br />~~N:~~""~fb.;.g{~$,;iJ,. <br /> <br />Discussion <br /> <br />Elimination of the above language and adding the "LOAN" term clarifies a confusing paragraph <br />and gives the Board more flexibility in making loans or grants for feasibility studies. Eliminating the <br />amount of money referenced by "ten percent of the moneys appropriated, Construction Fund" removes <br />a number that can't be calculated and gives the Board the latitude to use the existing Small Feasibility <br />Study Grant Fund or make a loan for a large study. This revision also cleans up the reference to the <br />repealed paragraph ( a). <br />Specifically authorizes that loan fees the Board charges (1 % loan origination fees) <br /> <br />Flood Protection. Water Project Planning and Financing. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />