BOARD02346

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

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conservation board is hereby authorized to loan moneys from the

severance tax trust fund peIpetual base account to enable the construction

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3 of the following water resources projects with the following priority:

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Priority

Borrower-Project

Loan Amount

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(a)

Highland Ditch Company - Foothills

$ 1,040,000

Reservoir Dam Rehabilitation

(b)

$ 4,000,000

(c)

City of Fort Morgan - Raw Water
Pipeline b
Northern Colorado Water Association 5) 900,000

- Purchase of Wells and Water Riii:hts
Total

5) 5,940,000

12 b Loan to refinance a water project wholly or partially completed.
13 (2) The ColoradQ water conservation board may make loans for

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the construction of the projects specified in subsection (I) of this section
from such moneys as are or may hereafter become available to the
severance tax trust fund peIpetual base account. Said loans shall be in the
amounts listed in subsection (I) 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

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or unforseen site conditions, errors or omissions in the plans and

specifications, changes instituted by regulatOIY 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 terms and conditions in such contracts as will

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