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<br />~ <br /> <br />Statutory Limitations <br /> <br />e <br /> <br />In considering recommendations for projects to the General Assembly, the Board <br />should be aware of the following criteria and limitations set by statute: <br /> <br />I. Section 37-30-121 (I) (b) (IV), CRS provides that "the Board shall participate in <br />only those projects which can repay the Board's investment, Grants shall not be <br />made, unless specifically authorized by the General Assembly acting by bill... " <br /> <br />2. Section 37-60-121 (1) (b) (V), CRS provides that "all other means o/financing shall <br />be thoroughly explored before use is made of fimd moneys. " <br /> <br />3, Section 37-60-121 (1) (b) (VII), CRS provides that "the Board may recommend to <br />loan fUnds on floodplain projects not to exceed five percent of the annual projected <br />revenue earned by the fUnd." The 5% limit applies to the total sum for proposed <br />floodplain project loans and flood related study grants. <br /> <br />4. The leadership of the General Assembly has indicated several times in recent years <br />that the CWCB loan fund should not be used to finance annual operation and <br />maintenance projects. <br /> <br />5, Section 37-30-122 (1) (c), CRS, authorizes the Board to commit or expend up to 10% _ <br />of the revenue to the Construction Fund for new feasibility study loans. ... <br /> <br />6, Section 37-60-122.2 (2) (b), CRS concerning mitigation grants from the Fish and <br />Wildlife Resources Account, states "the amount of the grant shall be sufficient to pay <br />for the mitigation recommendation... to the extent required above the applicant'sjive <br />percent share. Any additional enhancement shall be at the discretion and within the <br />means of the Board. Under no circumstances shall the total amount of the grant <br />exceed jive percent of the construction costs of the project, or be disbursed in <br />installments that exceed seventy percent of the amount of the grant during any fiscal <br />year, Any mitigation cost in excess of ten percent of the construction costs of a <br />project shall be borne by the applicant, " <br /> <br />7. Section 37-60-122.2 (2) (c), CRS, requires "any such enhancement grant will be <br />shared equally by the Colorado water conservation board's jish and wildlife <br />resources account and the division of wildlife's wildlife cash fUnds and other fUnds <br />available to the division. " ' <br /> <br />8. Section 37-60-122,2 (4), CRS, requires the Board to divide the expenditures from the <br />Fish and, Wildlife Resources Account 50-50 between the east and west slope <br />beneficiaries. <br /> <br />e <br /> <br />MarOO,7amemo.doc <br />