BOARD02346

• Board Meeting Date: 1/12/1998
• Description: House Bill 98-1189, Construction Fund Legislation
• Board Meetings - Doc Type: Memo

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Water Rights Purchase'
Total $10,447,000
. Loan to refinance a water project wholly or partially completed.
(2) The Colorado water conservation board may make loans for
the construction of the projects specified in subsection (1) of this section
from such moneys as are or may hereafter become available to the
Colorado water conservation board construction fund. Said loans shall

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be in the amounts listed in subsection (1) of this section plus or minus
such amounts, if any, as may be justified by reason of ordinary
fluctuations in construction costs as indicated by the engineering cost
indices applicable to the types of construction required for each project
or as may be justified by reason of changes in the plans for a project due
to differing or unforseen site conditions, errors or omissions in the plans
and specifications, changes instituted by regulatory agencies, or changes
in material quantities beyond contract limits.
(3) Pursuant to section 37-60-120 (1), Colorado Revised Statutes,
the board shall require such tenns and conditions in such contracts as will
ensure repayment of funds made available by it. The board shall not
disburse any moneys for any loan authorized by subsection (1) of this
section unless and until it is satisfied, at its sole discretion, that the

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recipient of any such loan will be able to make repayment pursuant to the

tenns and conditions established by the board and by subsection (1) of

this section.

SECTION 2. Project loan authorizations from the severance
tax trust fund perpetual base account. (I) Pursuant to section

39-29-109 (1) (a) (I), Colorado Revised Statutes, the Colorado water

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1189