42-1755. PROJECTS — PLANS AND COST ESTIMATES — REPAYMENT CONTRACTS — TITLE. When a project has been selected by the board to be constructed by the board with money made available from the revolving fund, the board shall cause plans and cost estimates of such project to be prepared and the board is authorized to enter into a contract or contracts for construction of such project after legislative approval. The board shall insure that water developed or conserved by any such project shall be utilized or benefits accrue within this state, and it shall enter into appropriate repayment contracts with the project water users. The board shall assess against any project water user such charge as, in the opinion of the board, is necessary and reasonable for the maintenance and operation of the project during the repayment period and for repayment to the revolving fund of the amount allocated therefrom for making the feasibility study and for construction of the project, including costs for engineering services, design, specifications, and other preparatory expenses. All money allocated to the project from the revolving fund shall be repaid as determined by the board, provided that the repayment period shall not exceed 60 years.
Title to all projects constructed by the board with money from the revolving fund shall vest in the board. At the end of the repayment period, the board shall make a determination, guided by the principles set forth in the act under which it operates, as to whether or not it is in the public interest to turn title to such project over to the users of such project. Its action shall be based upon such determination, and the board is specifically authorized to convey title to the project to those who use the water from such project if it finds this to be in the public interest.
History:
[42-1755, added 1969, ch. 333, sec. 6, p. 1051.]
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