§ 37-95-101. Short Title
This article shall be known and may be cited as the “Colorado Water Resources and Power Development Authority Act”. Source: L. 81: Entire article added, p. 1794, § 1, effective July 1.
§ 37-95-102. Legislative Declaration
It is hereby declared to be the public policy of the state to preserve, protect, upgrade, conserve, develop, utilize, and manage the water resources of the state, to promote the beneficial use of waters of the state for the protection and preservation of the public health, safety, convenience, and welfare, to create or preserve jobs […]
§ 37-95-103. Definitions
As used in this article 95: “Authority” means the Colorado water resources and power development authority created by this article. “Beneficial use” means a use of water, including the method of diversion, storage, transportation, treatment, and application, that is reasonable and consistent with the public interest in the proper utilization of water resources, including, but […]
§ 37-95-104. Establishment of Authority – Board of Directors – Removal – Organization – Compensation – Dissolution
There is hereby created the Colorado water resources and power development authority, which shall be a body corporate and a political subdivision of the state. The authority shall not be an agency of state government, nor shall it be subject to administrative direction by any department, commission, board, bureau, or agency of the state, except […]
§ 37-95-105. Records and Meetings of Board – Disclosure of Interests Required
All resolutions and orders shall be recorded and authenticated by the signature of the chairman and the secretary of the board. Every legislative act of the board of a general or permanent nature shall be by resolution. The book of resolutions, corporate acts, and orders shall be a public record. A public record shall also […]
§ 37-95-106. Authority – Powers
Except as otherwise limited by this article, the authority, acting through the board, has the power: To have the duties, privileges, immunities, rights, liabilities, and disabilities of a body corporate and political subdivision of the state; To sue and be sued; To have an official seal and to alter the same at pleasure; To make […]
§ 37-95-107. Feasibility Studies – Repayment of Costs
Before any proposed project can receive consideration for construction funding by the authority, the Colorado water conservation board must first review the feasibility study of any such proposed project, and the general assembly must authorize the authority to proceed to consider the construction of any proposed project. (1) (a) (I) Before any proposed project can […]
§ 37-95-107.5. Legislative Declaration – Specific Project Authorizations
It is hereby declared to be the policy of the general assembly to protect and foster the full utilization of Colorado’s limited surface water resources by allocation thereof through the operation of the appropriation system as provided by sections 5 and 6 of article XVI of the state constitution. Any judicial interpretation or other law […]
§ 37-95-107.6. Creation and Administration of Water Pollution Control Revolving Fund
There is hereby created in the authority the water pollution control revolving fund, which shall be maintained and administered by the authority and be available in perpetuity for the purposes stated in this section. The authority is authorized to establish such procedures as may be required to administer the water pollution control revolving fund in […]
§ 37-95-107.8. Creation and Administration of Drinking Water Revolving Fund
There is hereby created in the authority the drinking water revolving fund that the authority shall maintain and administer for the purposes stated in this section. The authority may: Establish procedures to administer the drinking water revolving fund in accordance with the safe drinking water act and state law; Create separate accounts in the drinking […]
§ 37-95-108. Acquisition and Disposition of Property – Change of Location of Highways, Railroad, or Public Utilities – Regulation of Public Utility Facilities on a Project
When the authority, or the person or governmental agency with which the authority contracts, finds it necessary to change the location of any portion of any public road, state highway, railroad, point of diversion, or public utility facility in connection with the construction of a project, it shall cause the same to be reconstructed at […]
§ 37-95-109. Bonds or Notes – Issuance – Terms
The authority has the power and is hereby authorized from time to time to issue its bonds or notes in such principal amounts as in the opinion of the board are necessary to provide sufficient funds for any of its corporate purposes, including the payment, funding, or refunding of the principal of, or interest or […]
§ 37-95-110. Power to Make Covenants to Secure Payment
In any resolution of the board authorizing or relating to the issuance of any bonds or notes, the authority, in order to secure the payment of such bonds or notes and in addition to its other powers, has the power by provisions therein which shall constitute covenants by the authority and contracts with the holders […]
§ 37-95-111. Pledge of Revenues, Moneys, Funds, or Other Property – Lien
Any pledge of revenues, moneys, funds, or other property made by the authority shall be valid and binding from the time when the pledge is made; the revenues, moneys, funds, or other property so pledged and thereafter received by the authority shall immediately be subject to the lien of such pledge without any physical delivery […]
§ 37-95-112. Personal Liability
Neither the members of the board nor any person executing bonds or notes issued pursuant to this article shall be liable personally on such bonds or notes by reason of the issuance thereof. Source: L. 81: Entire article added, p. 1807, § 1, effective July 1.
§ 37-95-112.5. Watershed Protection and Forest Health Projects – Repeal
The authority is hereby authorized to issue bonds, in an amount not to exceed fifty million dollars, for the purposes of funding watershed protection projects and forest health projects of governmental agencies. The authority may make and contract to make loans with the proceeds of the bonds authorized by this section to governmental agencies pursuant […]
§ 37-95-113. Debt Service Reserve Funds for Watershed Protection Projects and Forest Health Projects
In addition to any other funds it may establish, the board may, by resolution, establish one or more special funds pursuant to this section, referred to in this section as “debt service reserve funds”, for bonds issued to finance watershed protection projects and forest health projects pursuant to section 37-95-112.5, and may pay into such […]
§ 37-95-114. Guarantee by State Not to Limit or Alter Rights or Powers Vested in Authority
The state of Colorado does hereby pledge to and covenant and agree with the holders of any bonds or notes issued pursuant to the powers set forth in this article that the state will not limit or alter the rights or powers vested by this article in the authority to acquire, construct, maintain, improve, repair, […]
§ 37-95-115. Exemption of Bonds From Taxation
Any bonds issued by the authority under the provisions of this article, their transfer, and the income therefrom (including any profit made on the sale thereof) shall at all times be free from taxation by the state or any political subdivision or other instrumentality of the state. Source: L. 81: Entire article added, p. 1809, […]
§ 37-95-116. Annual Report – Annual Audit – Annual Budget
Notwithstanding section 24-1-136 (11)(a)(I), on or before April 30 of each year, the authority shall make an annual report of its activities for the preceding fiscal year to the governor and the joint agriculture and natural resources committee of the house of representatives and the senate. Each such report shall set forth a complete operating […]