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<br /> <br />1 shall be credited to the Colorado water conservation board construction <br />. 2 fund. Any balance remaining in the emergency accotlnt FUND at the end <br />3 of any fiscal year shall remain in the account FUND. <br />4 SECTION 31. 37-60-122.7, Colorado Revised Statutes, is <br />5 amended to read: <br />6 37-60-122.7. Small project Ioan fund - feasibility study smaIl <br />7 grant fund - creation. (1) There is hereby created in the state treasury <br />8 as pa1t of tile Colorado 'vate;" CVJ15CIvation bO.l1d Gonslitletion fund the <br />9 small project loan aCeOtlllt FUND. The state treasurer is hereby authorized <br />10 and directed to transfer two million dollars from the COLORADO water <br />11 conservation board construction fund to the small project loan aC'-Otlllt <br />12 FUND. <br />13 . (2) (a) The Colorado water conservation board is authorized to <br />14 make loans from the small project loan accotlnt FUND in a maximum <br />. 15 amount of one hundred thousand dollars for small projects if it determines <br />16 that delay would result in undue hardship on the borrower. These loans <br />17 shall not require prior general assembly approval, and shall be approved <br />18 by the board for the purpose of avoiding undue delay in completion of the <br />19 project. <br />20 (b) The total amount of loans from the small project loan accc)tlnt <br />21 FUND shall not exceed one million dollars in any fiscal year. <br />22 (3) The board shall submit to the general assembly a written <br />23 determination of the basis for each loan from the small project loan <br />24 account FUND not later than December 1 of the year in which the loan was <br />25 made. <br />26 (4) The moneys in the small project loan ac.;;ount FUND are hereby <br />. 27 continuously appropriated to the board for loans in compliance with <br /> <br />-28- <br /> <br />SBOl-157 <br /> <br />---" <br />