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<br />'0..,0C3 <br />, t,- <br /> <br />-5- <br /> <br />1 <br /> <br />all applications for loans so that each Board _ . ep 'lI'ill have full opP02'tuni ty <br />of studying each al'plication before the Board meeta, to keep Jl!'l3P8r records Of <br />all loans when granted. to receive all payments on ail loans, to deposit. sub- <br />sequentlyall funds received with the TreasijTer of the state of Colorado.. to be <br />prepared to report on the $tatus of each and every loan at any.and.all 'meetings. of <br />the Board and such other and additional dutie. as the Board may see fit to change <br /> <br />; <br />the Administrative Assistant with. <br /> <br />The salary of this Administrative A~sistant together with the: expenses incidental <br />to the proper discharge of .the duties shall be charged against the original <br /> <br />., <br /> <br />appropriation of $10,000.00. . The office of the Attorney Ganeral of the state.of <br /> <br />. . <br />Colorado shall provide the necessary legal counsel to the Board without any. charge <br /> <br />.1 .. <br />against the original appropriation or any subsequent surplus that may accumulate <br /> <br />in anY fund under this Act. <br /> <br />" .J'I . <br />Meetings of the Board, more frequent 'than the two each year her~-in-above provided, <br />\ . , '1 <br />may be called. and held when, three or more appiications for loans under this lcot <br /> <br />are 'in the hands of the Administrative Assistant to the Director.of this Board, or . <br /> <br />J. " .,. r <br />an application for a loan of t2oo,OOO.00; or more. <br />.; : r <br />An affirmative action on the part of this Board on an applicat10n for 11 loan s.h<ih. <br /> <br />require a vote of two-thirds of the entire membership.of the Board and not merely <br /> <br />a two-thirds vote of a quorum. <br /> <br />Before an application for a loan under this Act shall be considered by'this Board, <br />the following requirements on the part of the appllcant.shaV be complied withl <br />A. A blue print of the. filing on the water. to be used showing the acc~ptance of the <br /> <br />filing by the state Engineer, <br />B..^ complete set of ~he Plans and Specifications of the proposed facilities to be <br /> <br />constructeQ' <br /> <br />C. A comprehensive study of the project~ facIlities and otherwise, to include, <br /> <br />. . <br />available water for the project, repayment ability of the borrowers under the <br /> <br />project, land classification and utilization, economic and social contribution. to <br />