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<br />j. Final approval or disapproval of all loan requests recommended by staff during <br />the current year and fmal deviations, if any, from standard terms shall be made <br />by the Board in its November meeting. <br /> <br />k. The Board will assign a priority to all approved projects and prepare a report to <br />the General Assembly setting forth its priority designations, estimated costs and <br />proposed contractual arrangements for all recommended projects. <br /> <br />1. Authorization of project funding is accomplished by adoption of a statute by the <br />General Assembly and approval by the Governor. <br /> <br />1.3.6 Design and Construction Procedures <br /> <br />Mter authorization of a project by the General Assembly, the following sequence of <br />events generally occurs: <br /> <br />a. The project sponsor obtains any necessary matching funds to pay those portions <br />of the design and construction costs not provided by the CWCR. <br /> <br />b. A loan agreement (contract) between the Board and the project sponsor is <br />executed to provide funding for the CWCB portion of design and construction <br />costs. <br /> <br />c. Detailed plans and specifications are prepared by a professional engineer <br />registered in Colorado and selected by the project sponsor with the approval of the <br />CWCR. <br /> <br />d. The plans and specifications prepared by the consulting engineer are reviewed to <br />verify compliance with the contract and the guidelines established by the CWCB <br />staff. Plans and specifications for dams and reservoirs must also be approved by <br />the Office of the State Engineer. <br /> <br />e. The project is bid in an open bidding process and construction commences <br />following the bid opening. <br /> <br />8 <br />