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

PURPOSE: To establish an application and approval process for investments and loans
from the STTFPBA for funding W~MPP and special dam rehabilitation
projects, including enlargements and dredging projects.
APPLICABILITY: This policy and procedure apply to investment and loan applications for
W~MPP and special dam rehabilitation projects, including enlargements
and dredging projects.
PROCEDURE: An investment applicant will submit the following to the CWCB staff for
review:
a. A project feasibility study including a W~MPP investment
financing application for the individual project.
b. A proposal to transfer a portion of the developed or
unrestricted project water or project benefits to the CWCB
for the purposes of future sale or lease for municipal,
industrial or agricultural use, or for addressing compact
calls, drought mitigation, endangered species, instream
flows, river restoration, recreation or other purposes
deemed appropriate by the C`~'CB. The sale or lease of
water or benefits controlled by the CWCB shall be done in
away so as to recover all or part of the State's investment
in the project. The sale or lease of water shall be limited to
other beneficiaries of the project or to other entities, the
nennanent transfer of which has been authorized by the
Colorado General Assembly
c. It is not necessary that a W~MPP investment application be
accompanied with a loan application depending upon the
proposed water transfer relative to the total project cost.
The «°°+°° +--°~~~°-- benefits to be held by_ the CWCB will be in accordance
with a storage right or other decree to be jointly sought by the applicant
and the CWCB or in accordance with teens and conditions defined by a
contract between a project owner and the CWCB (State?). The water
~€~ project operations and distribution of benefits will be
~~~°~„°N+°a +~.r,.,,,.~, defined by an operations agreement ~`.
enforced by the CWCB or the State Engineer.
Staff will review the investment/loan application for compliance with the
above criteria and, in their professional opinion, likelihood of successful
project development. Applications will be referred to the Board for
consideration at the November Board meeting following the application
submittal.
Approved by the CWCB
November 15, 2007 Board Meeting
Agenda Item # 19