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<br />CWCB Loan Authority
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<br />37-60-119. Construction of water and power facilities - contracts with and charges
<br />against users. (1) In order to promote the general welfare and safety of the citizens of
<br />this state and to protect the allocation of interstate waters to the state, the board may,
<br />subject to the provisions in section 37-60-122, construct, rehabilitate, enlarge, or
<br />improve, or loan moneys to enable the construction, rehabilitation, enlargement, or
<br />improvement of, such flood control, water supply, and hydroelectric energy facilities,
<br />excluding domestic water treatment and distribution systems, together with related
<br />recreational facilities, in whole or in part, as will, in the opinion of the board, abate
<br />floods or conserve, effect more efficient use of, develop, or protect the water and
<br />hydroelectric energy resources and supplies of the state of Colorado. In carrying out
<br />such program, the board is directed to place special emphasis upon the adoption and
<br />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
<br />'contracts for the use of, or to loan moneys to enable the construction, rehabilitation,
<br />enlargement, or improvement of, said flood control, water, power, and any related
<br />recreational facilities, excluding domestic water treatment and distribution systems,
<br />with any agency or political subdivision of this state or the federal government, with
<br />individuals, with corporations, or with organizations composed of citizens of this state.
<br />Any such contracts may provide for such charges to the using entity as, in the opinion
<br />of the board, are necessary and reasonable to recover the board's capitaJ. investment,
<br />together with operational, maintenance, and interest charges over the term of years
<br />agreed upon by contract. Interest charges shall be recommended by the board at
<br />between zero and seven percent on the basis of the project sponsor's ability to pay and
<br />the significance of the project to the development and protection of the water supplies
<br />of the state. Any such charges so collected shall be credited to and made a part of the
<br />Colorado water conservation board construCtion fund.
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<br />(3) To promote the efficient management and operation of agricultural and
<br />multipurpose water systems, the board is authorized to expend up to five hundred
<br />thousand dollars as demonstration grants on a fifty percent cost sharing basis for
<br />projects to improve water management or to reduce the operational costs of such
<br />systems.
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<br />37-60-120. Control of projects - contractual powers of board. (1) The state of
<br />Colorado shall have the ownership and control of such portions of said projects, or
<br />shall take a sufficient security interest in property or take such bonds, notes. or other
<br />securities evidencing an obligation, as will assure repayment of funds made available by
<br />section 37-60-119. Any securirj interest in property taken under this subsection (1)
<br />may be perfected and enforced in the same manner as security interests under article 9
<br />oftitIe 4, C.R.S., notwithstanding any provision of section 4-9-104, C.R.S. The board
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