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<br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br /> <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone; (303) 866-3441 <br />FAX; (303) 866-4474 <br />www.cwcb.state.co.us <br /> <br />STATE OF COLORADO <br /> <br />Q <br /> <br />Bill Owens <br />Governor <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />MEMORANDUM <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />FROM: <br /> <br />Colorado Water Conservation Board Members <br /> <br />Mike Serlet, P.E., Chief /1} \ <br />Water Supply Planning itJ,.dn.ance Section <br /> <br />TO: <br /> <br />DATE: <br /> <br />September 17, 2001 <br /> <br />SUBJECT: <br /> <br />Agenda Item 17b - September 24-25, 2001, Board Meeting <br />Water Supply Planning and Finance - Changes in Existing Loans <br />Lower Arkansas Water Management Association - Loan Payment <br />Deferral Request <br /> <br />Introduction <br /> <br />By letter dated September 11, 2001 (attached), the Board of Directors of the <br />Lower Arkansas Water Management Association (LA WMA) has requested a deferment <br />of one of their CWCB Construction Fund loan payments. LA WMA's $122,000 loan <br />payment for Contract #C-153715 is due May 1 of each year. The purpose for this request <br />is to help offset the District's financial difficulty due to approximately $120,000 in legal <br />and engineering expenses to be incurred related to requirements of the Kansas v. <br />Colorado case. <br /> <br />Back2round <br /> <br />In 1995, the General Assembly passed HB 95-1155 which established the <br />Arkansas River Augmentation Loan Account in the Construction Fund. The purpose of <br />the account is to make loans to organizations, or entities, for the purchase of <br />augmentation water, or the rights to such water, to replace out of priority surface water <br />right depletions and to prevent material depletions of usable stateline flows in violation of <br />the Arkansas River compact. <br /> <br />The Board has authorized several loans from the Arkansas River Augmentation <br />Loan Account to LA WMA for the purposes outlined in the enabling legislation. As part <br /> <br />Flood Protection · Water Project Planning and Financing. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />