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.. ST A TE OF COLO:RADO \~ I f Colorado Water Conservation Board Department of Natural Resources 1313 Sherman Street, Room 721 Denver, Colorado 80203 Phone: (303) 866-3441 FAX: (303) 866-4474 www.cwcb.state.co.us Bill Owens Governor MEMORANDUM Russell George Executive Director TO: Colorado Water Conservation Board Members Mike Serlet, p.E.~if Chief, Water Supply Pr~g and Finance Section Rod Kuharich CWCB Director FROM: Dan McAuliffe Deputy Director DATE: November 5, 2004 SUBJECT: Agenda Item 12a-e - November 16-17, 2004 Board Meeting Water Supply Planning and Finance - Loan De-authorization Review Introduction In September 1999, the Board adopted Board Policy #1, Construction Fund and Severance Tax Trust.. Fund Perpetual Base Account Project Time Limits, which policy provides the following direction: The Colorado Water Conservation Board (CWCB) shall review the status of all Construction Fund and Severance Tax Trust Fund Perpetual Base Account loan projects that do not have a fully executed CWCB funding contract within three years of the project's legislative authorization. These projects may be recommended for inclusion in the list of Project Loan De-Authorizations in the next annual Construction Fund Bill unless the Board specifically approves a time extension. The Policy further outlines the basis for staff recommendations: 1. If the Project Sponsors have not shown diligence toward execution of a funding contract within three years of their authorizing legislation, the staff will recommend to the Board that the project be included in the Project Loan De-Authorization recommendation to the Legislature. 2. If the Project Sponsors have progressed towards execution of a project funding contract, but the progress has been delayed due to extenuating circumstances, the staff may Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection Water Supply Protection. Conservation and Drought Planning