(1) There is hereby created in the state treasury the Colorado river recovery program loan fund for the purpose of making loans to the Colorado river and San Juan river recovery programs for the construction or improvement of certain water related projects in Colorado, under agreements with power users of the federal Colorado river storage project, required to recover the four endangered fish species of the upper Colorado river, including the San Juan river.
The Colorado water conservation board shall recommend loans from the Coloradoriver recovery program loan fund to the general assembly pursuant to section 37-60-122 (1)(b). The loans shall be subject to an interest rate and repayment provisions to be determined by the Colorado water conservation board.
The state treasurer is hereby authorized and directed to transfer to the Colorado riverrecovery program loan fund, created in subsection (1) of this section, out of any moneys in the Colorado water conservation board construction fund not otherwise appropriated, the sum of two million dollars. Interest earned on the funds in the Colorado river recovery program loan fund shall be credited to the Colorado water conservation board construction fund, created in section 37-60-121 (1).
Source: L. 98: Entire section added, p. 538, § 11, effective April 30. L. 2001: Entire section amended, p. 695, § 33, effective May 30.