1. (1) As used in this section, "board" means the Board of Water Resources created in Section 73-10-1.5.

2. (2) The board shall establish:

   1. (a) a charge for the use of water, power, or a facility based on:

      1. (i) a contractual agreement approved by the board for a project owned by the state; and
      2. (ii) the ability of an individual project to return the investment to the state; and

   2. (b) an interest rate for the money the board lends to finance a project based on:

      1. (i) market conditions;
      2. (ii) the repayment ability of the project; and
      3. (iii) other factors considered relevant by the board.

Amended by Chapter 267, 2008 General Session