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392 Water Conservation Board - Project Construction Ch.52) ) CHAPTER 52 WATER CONSERVATION BOARD - PROJECT CONSTRUCTION. RESCISSION OF PA YMENT OBLIGATIONS HOUSE BILL NO. 1140. BY REPRESENTATIVES Mcinnis. Armstrong, Anisl. Bledsoe. Campbell. Carpenlcr. Dambmaa. Herzog, Mutzebaugh. Neale. Pankey, Palllson. SWenson. Trujillo. D. Williams. and Young/und: . also SENATORS Wattenberg. Bishop. Glass. McCormick.. P. Powers. and Winkler, AN ACT CONCERNING RESCISSION OF PAYMENT OBLIGATIONS UNDER WATER PROJECT CONSTRUCTION CONTRACTS FUNDED WITH TRANSFERRED OIL SHALE LEASE FUND MONEYS. ) 8e it enacted by the General Assembly of tire State olColorado: Section I. Authority to rescind payment obligations under contracts financed with oil shale moneys. The general assembly. hereby finds that by , expn:S1) llroyision within the water pmject eonstructiorrcontracts'entered into with the towns of Rifle, Carbondale, Meeker, and RangIey, the Colorado water conservation board has reserved discretion to release said towns from their obligations under the contracts but that the exercise of such discretion is subject to limitations, including statutory limitations on the board's con- tractual authority. The general assembly also finds that only with respect to those four towns were water projects constructed with oil shale lease fund moneys, moneys which were calculated for distribution to said towns but which were instead loaned to said towns after being transferred to the water projects construction fund, Therefore,Colorado water consenialion board is hereby authorized and directed to release the towns of Rifle, Carbondale, Meeker, and Rangely from their payment obligations under the water project construction contracts funded with oil shale lease fund moneys transferred to the water projects constructions [sic] fund and noted as loans in section 2 of chapter 31, Session Laws of Colorado 1975. as amended by section 3 of chapter 259, Session Laws of Colorado 1984. Such releases shall apply only to payments due on or after January I, 1986. under said contracts. The full purchase prices under said contracls shall be deemed paid by such releases, and the Colorado water conservation board shall convey the state's right, title, and interest in and to the projects to the respective towns.' ".. ',.. .:. .' ..."., . ~',,', SectIon 2. Safety clause. The gcneral assemhly h,' 'h I" d' d' . .' .... . d d I . h' '. ' el e y In '. eler- -mtnes. an. ec ares t at th" act " neccssary for the imllle j'. I' " .. . . of lhep~bllc"peace. hcallh, and sarely, . . "" e r1eserv"lllln Arpr4vcd:'March 16. In6