BY SENATORS Ament, Alexander, Bishop, Chlouber, Norton, and Tebedo;
also REPRESENTATIVES Entz, Dyer, Reeser, and Taylor.
CONCERNING THE FINANCING OF WATER RESOURCE PROJECTS
BY THE COLORADO WATER RESOURCES AND POWER DEVELOPMENT AUTHORITY.
Be it enacted by the General Assembly of the State
of Colorado:
SECTION 1. 3795103
(5), (6), and (12.5), Colorado Revised Statutes, are amended to
read:
3795103. Definitions.
As used in this article:
(5) (a) "Governmental agencies"
means departments, divisions, or other units of state government,
special districts, water conservation districts, metropolitan
water districts, conservancy districts, irrigation districts,
municipal corporations, counties, cities, and other political
subdivisions, AND the United States or any agency thereof. and
(b) "GOVERNMENTAL AGENCIES"
ALSO INCLUDES ENTERPRISES AND any ENTITY, agency, commission,
or authority established BY ANY GOVERNMENTAL AGENCY SPECIFIED
IN PARAGRAPH (a) OF THIS SUBSECTION (5), INCLUDING, WITHOUT LIMITATION,
THOSE ESTABLISHED pursuant to an interstate compact or OTHER INTERGOVERNMENTAL
COMPACT OR agreement.
(6) "Hydroelectric facilities"
means facilities for the hydrogeneration or transmission of electric
power and energy. developed in connection
with any water management facility.
(12.5) (a) (I) "Small water
resources project" means any water management facility or
hydroelectric facility financed in whole or in part by the authority,
the construction cost of which is estimated by the authority,
on or prior to the date of issuance of the first series of bonds
or notes therefor, to be no more than ten
TWENTYFIVE million dollars.
(II) For the purpose of this subsection
(12.5), "construction cost" means the
cost of ALL COSTS RELATED TO AND
INCURRED IN CONNECTION WITH THE PROJECT, INCLUDING, WITHOUT LIMITATION,
ALL COSTS OF:
(A) PLANNING, design, AND engineering;
(B) ENVIRONMENTAL REVIEW, DOCUMENTATION,
AND MITIGATION;
(C) Physical construction;
(D) Financing;
(E) Financing reserves;
(F) Interest during construction;
(G) ACQUISITION OF LAND AND WATER RIGHTS;
AND
(H) ALL direct AND INDIRECT expenses of
the authority and site acquisition
AND OTHER GOVERNMENTAL AGENCIES INVOLVED IN THE PROJECT.
(b) The definition
of construction cost does not include the cost of planning, environmental
documentation, water rights, or mitigation costs, and such costs
shall be at the expense of the sponsoring governmental agency.
(c) No more
than onefourth of the total amount of the authority's cash
or investments on hand on January 1 of each year shall be utilized
at any one time during that year in connection with the issuance
of bonds to finance small water resource projects. The authority
shall utilize no more than eight million nine hundred seventy
thousand dollars of its cash or investments at any one time between
January 1, 1989, and January 1, 1994, in connection with the issuance
of bonds to finance small water resources projects.
SECTION 2. 3795107
(8), Colorado Revised Statutes, is amended to read:
3795107. Study of proposed
projects authorization thereof.
(8) The provisions of this section shall not apply
to any small water resources project; except that, before
IN THE CASE OF any small water resources project which
THAT consists of or includes raw water diversion or storage facilities,
can receive consideration for financing
by the board, the BOARD SHALL PROMPTLY
FORWARD A COPY OF THE PROJECT LOAN APPLICATION TO THE Colorado
water conservation board must first
review a project summary for such small water resources project
and promptly forward its recommendation concerning the project
or the portion thereof which includes raw water facilities to
the authority's board of directors. Such project summary shall
include a description of the project and the needs and purposes
it will serve, the determination of technical feasibility, an
estimate of project costs, and the proposed financial plan for
the project FOR INFORMATIONAL PURPOSES.
SECTION 3. 3795116
(1), Colorado Revised Statutes, is amended to read:
3795116. Annual report
annual audit annual budget.
(1) On or before March
31 APRIL 30 of each year, the authority
shall make an annual report of its activities for the preceding
fiscal year to the governor, the Colorado water conservation board,
and the general assembly. Each such report shall set forth a
complete operating and financial statement covering its operations
during the year. Included within such report shall be detailed
financial data setting forth the manner in which any previously
appropriated state funds have been used. The authority, no later
than November 30 of each year, shall report to the governor and
the general assembly any requests for state funds for the upcoming
state fiscal year, detailing the purposes for which said funds
are to be utilized.
SECTION 4. 3795123,
Colorado Revised Statutes, is amended to read:
3795123. Construction of
article. This article shall be construed
liberally to effectuate the legislative intent and the purposes
of this article as the complete and independent authority for
the performance of each and every act and thing authorized in
this article, and all the powers granted in this article shall
be broadly interpreted to effectuate such intent and purposes
and shall not be interpreted as a limitation of such powers; provided,
however, EXCEPT THAT it is hereby
recognized that the primary purpose of this article relates to
the development of water resources of the state of Colorado as
set forth in section 3795102 (1), and that the only
generation of electric energy authorized hereunder is generation
from hydroelectric facilities. supportive
of a project, and This article shall
not be construed as
to authorize the board to generate electric energy by fossil fuel
or other nonhydromethods
NONHYDROELECTRIC METHODS.
SECTION 5. Safety
clause. The general assembly hereby finds, determines, and
declares that this act is necessary for the immediate preservation
of the public peace, health, and safety.
____________________________ ____________________________
Tom Norton Charles E. Berry
PRESIDENT OF SPEAKER OF THE HOUSE
THE SENATE OF REPRESENTATIVES
____________________________ ____________________________
Patricia K. Dicks Judith M. Rodrigue
ASSISTANT SECRETARY OF CHIEF CLERK OF THE HOUSE
THE SENATE OF REPRESENTATIVES
APPROVED________________________________________
_________________________________________
Roy Romer
GOVERNOR OF THE STATE
OF COLORADO