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<br />~ <br /> <br />IIl.B. <br /> <br />(1988 Session) <br /> <br />I <br /> <br />SEC710N 2. ~dditional author1zations. (1) Pu~suant to <br />section 37-60-122 (1) (b), ColoraDo ReV1sed Statutes, the <br />Coloraoo water conse~vation boa~d is hereby autho~ized to loan <br />moneys to the OrChard C1ty Irrigation District, Grand Valley <br />~ater Use~s Association, Uncompahgre Valley Water Users <br />Association, Orcnard Mesa lr~fcation District, Overland DitCh <br />and Rese~voir Comoany, City of" cort Collins, North Poudre <br />Irrigation District, and the ~ater Suoply and Storage Comoany <br />to enaole each entity, if it Chooses to 00 se, to repU~ChaSe <br />f~om the United States bureau of reclamatioh, pursuant to <br />seCtion 5301 of the feoeral buocet reconciliation act of 1967, <br />the outstanding loans whiCh each entity has with the bureau of <br />reclamation. <br /> <br />(2) The total sum which the board may loan to all of the <br />ent1ties Shall not exceed 57.5 million. The ooard shall loan <br />to eacn enti:y a minimum of fifty percent of the moneys for <br />the repurChase of its loan or loans from the bureau of <br />reclamation, or a lesser amount on a prorata basis with all <br />enti:ies if the total" sum authori2ed ii insufficient. The <br />board may loan to an entity more than fifty percent of the <br />moneys fo~ tne repurChase of its lean or loans if ~he board <br />cetermines that this is necessary to make it finanCially <br />possible for an entity to repurChase its loan or loans. <br /> <br />(3) Loans made by the board pursuant to this seCtion <br />Shall bear interest ~. the rate of five percent per annu~. <br />SUCh ioans shali have repayment Derioes of not more than forty <br />yea~s, with SUCh repayment perioes to Oe as sno~t as possible <br />c:nsis~en: with :~e fina~:iai resources of 2a:n en:i:)'. <br /> <br />(4) COntracts entered into by the board pu~suant to <br />section 37-50-119 (2), ~eloraoo Revised Statutes, fer the <br />purposes of this section shail, pursuant to section 37-50-120 <br />(1), Colo~ado Revised Statutes, contain SUCh terms and <br />conditions ~s w;il a!SUi€ repayment of funds maoe ave, laDle DY <br />it. FUithe;mc~e, the ~oe~c shall net make any ioan aut~orized <br />by this section uniess it is satisfied, in 1tS soie <br />disc~etion, that the recipient of any SUCh loan wiil be abie <br />to make repayment pu~suan: ~o :ne :e~ms and c~ndi:ions <br />estaolished by the board and by this section. <br />