BOARD00040 (2) - Laserfiche WebLink

Home Browse Search

ffi)~ For Negotiation Purposes consideration and approval by DNR and SPWRAP prior to August 1 of each year. . c. Financial Obligations to PRRIP Colorado's cash obligation to PRRIP is anticipated to be approximately $24,000,000 in 2005 dollars over the contemplated thirteen years of the First Increment. In addition, Colorado has obligations under the Program to re- regulate river flows at the state line which will entail additional costs. If the First Increment is extended, i~ is probable that Colorado will have additional monetary obligations, however, the amount of such obligations carmot yet be estimated. II The Operating Committee will develop a budget that will identify, to the extent possible, all of the costs involved in meeting Colorado's PRRIP obligations, the time-frame within which each of those obligations will be met, and the minimum funding requirement for each year of the PRRIP. A preliminary estimate of the total cost of meeting all PRRIP obligations is attached hereto as Exhibit --. This estimate will be further developed and refined by the Operating Committee. 111 The Parties acknowledge that financial obligations of Colorado payable after the current fiscal year are contingent upon funds for that purpose being appropriated, budgeted, and otherwise made available. Because Colorado does not have available at this time the entire amount of money needed to meet PRRIPCA obligations, and because funding for the PRRIP in the future remains uncertain, SPWRAP and DNR agree that DNR will seek funding through the legislative process in each year further appropriations are necessary, and where practical to do so, SPWRAP and its members will support DNR's efforts through legislative contacts. A time-line describing the state budget process and relevant deadlines is attached hereto as Exhibit --. Each year the Operating Committee will update its estimate ofthe minimum funding requirement based on the circumstances at the time. Each year the Parties will agree upon the amount of funding to be requested from the legislature, which amount could be greater or less than the minimum funding requirement for that year. . IV In the event sufficient funds are not made available by the Legislature to meet the minimum funding requirement in a given year, DNR will notify SPWRAP in writing as to the amount of the shortfall, and SPWRAP agrees to use its best efforts to pay such shortfalls. SPWRAP contemplates raising this money through fee assessments paid by its members. The amount of money kept in reserve by SPWRAP for meeting shortfalls will be determined by SPWRAP in its discretion after consultation with DNR. In the event it becomes necessary for SPWRAP to meet shortfalls, SPWRAP will make such payments directly to PRRIP on Colorado's behalf. The Parties acknowledge . 4 SPWRAP-DNR MoA 08-14-06