19 ‎(2)‎

• Board Meeting Date: 11/14/2007
• Description: CF Section - Proposed Pplicy #18 Review application and Approval Process for Use of Investments and Loans from the Severance Tax Trust Fund Perpetual Base Account for Funding Water Supply Partnership
• Board Meetings - Doc Type: Memo

STATE OF COLORADO
Colorado Water Conservation Board
Department of Natural Resources
1313 Sherman Sheet. Room 721
Dem~er, Colorado 80203
Phone: [phone]
Fax: [phone]
v`uu . ccvcU. state. co.us
Bill Rittr-,. 3r.
Governor
TO: Colorado Water Conservation Board Members
Harris D. Sherman
DNR Executive Director
FROM: Mike Serlet, P.E., Chief
Water Su 1 Plannin and Finance Section Dan McAnhtfe
PP y g Acting CWCB Director
DATE: November 6, 2007
SUBJECT: Agenda Item 19 -November 14-15, 2007, Board Meeting
Water Supply Planning and Finance Section - PI•oposed Policy #18 Review
Application and Approval Process for use of Investments and Loans from the
Severance Tax Trust Fund Perpetual Base Account for Funding Water Supply
Partnership Projects and Special Dam Rehabilitation Projects
Introduction
During the strategic planning workshops at the July and September 2007 Board meetings
the Board reviewed, discussed and made suggested revisions to the attached Policy #18
regarding the proposed Water Supply Partnership Program. Attached is the updated draft policy
including suggested revisions.
Discussion
This policy describes the criteria and guidelines for establishing a water management
program financed by a combination of loans and non-reimbursable investments from the
Severance Tax Trust Fund Perpetual Base Account. The opportunity to establish such a program
stems from the recent growth and relatively steady stream of statewide severance tax revenues.
The program will allow the Board to more effectively encourage the construction of new water
projects and to rehabilitate structurally deficient and functionally obsolete infrastructure. The
program will also allow the Board to acquire water supplies used to meet established goals and
needs of the State of Colorado such as compact calls, drought mitigation, endangered species,
minimum stream flows, river restoration and recreation.
The proposed program has been briefly discussed with the Legislative Water Resources
Review Committee, but only to the point of a general concept presentation. Several statutory
revisions and additions must be made in order to fully develop the program, including, but not
limited to, authorizing non-reimbursable investments to be made from the Perpetual Base
Account and authorizing the CWCB to own water rights for additional purposes than simply
minimum instream flows. Those proposed statutory changes will be discussed in more detail
during agenda items 22.c and 22.e
water Supply Protection • Flood Protection • Stream & Lake Protection • water Supply Planning & Finance
water Conservation & Drought Planning • Intrastate water Management & Development