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<br />4. <br /> <br />Oil Shale Special Fund: The General Assembly may appropriate <br />funds to state agencies to plan for and construct facilities <br />and provide services needed because of oil shale industrial <br />development. Such appropriations may be either from moneys <br />received as royalties and bonuses or from the interest <br />received from investment of such funds. The legislature must <br />appropriate the latter primarily for energy related <br />activities and "secondarily for other state purposes." <br /> <br />Source: <br /> <br />State's share of federal bonuses, leases, <br />royalties, rentals, or sale of oil shale lands. <br /> <br />Features: There is no statutory limitation for conditions of <br />repayment, grants may be given. <br /> <br />5. Colorado Water Resources and Power Development Authority: <br />The Authority was created to: "initiate, acquire, construct, <br />maintain, repair, and operate projects. . . and may issue its <br />bonds and notes payable solely from revenues to pay the cost <br />of such projects." The Authority has a clearly defined new <br />role among the water development alternatives--to finance <br />projects through issuance of revenue bonds. <br /> <br />Source: <br /> <br />State appropriation to reserve fund. Funding is <br />needed to establish -and maintain balance in a debt <br />service reserve fund which serves as collateral <br />for revenue bonds. Revenues will ultimately <br />support program costs such as feasibility studies <br />and administrative overhead. <br /> <br />Features: Provides revenue bond mechanism for projects. <br />Relieves dependence upon general fund and special <br />funds. <br /> <br />DW 12/1 <br /> <br />-2- <br /> <br />I <br /> <br />I <br />