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<br />from such moneys as are or may hereafter become available to the <br />Colorado water conservation board construction fund, the amounts <br />of money listed in said paraqraph (a) plus or minus such amounts, <br />if any, as may be justified by reason of ordinary fluctuations in <br />construction costs as indicated by the engineering cost indices <br />applicable to the types of construction involved for such <br />projects or as may be justified by reason of changes made in the <br />plans and specifications of the project if those changes are <br />required by finalized engineering drawings and specifications or <br />by federal or state requirements. <br />(c) The sponsor of a projElct specifie<i in paragraph (a) of <br />this subsection (1) may not give notice of award of a contract <br />nor notice to proceed with construction, nor in any manner incur <br />costs for or initiate final destgns and specifications for, or <br />the construction of, a project, until such sponsor has entered <br />into a contract with the Colorado water conservation board for <br />the construction of a project aI'ld has otherwise complied with all <br />procedures and conditions requi~ed by the board. If a sponsor <br />fails to comply with this parag~aph (c), then the Colorado water <br />conservation board may, at its discretion, terminate all or a <br />portion of the board's financial contribution to a project, <br />notwithstanding the authorization made by paragraphs (a) and (b) <br />of this subsection (1), or the board may require such assurances <br />from the project sponsor as the board deems necessary in order to <br />adequately protect the board's investment in a project. <br /> <br />-2- <br />