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<br />June 14,2005 <br /> <br />INTRAOFFICE MEMORANDUM <br /> <br />TO: Mike Serlet, P.E., Chief, Water Supply and Financing Section, CWCB <br />Bruce Johnson, P.E., CWCB <br /> <br />THRU: AmyF. Stengel <br />Assistant Attorney General <br />Natural Resources and Environment Section <br /> <br />FROM: Janet Lee <br />Legal Intern <br />Natural Resources and Environment Section <br /> <br />RE: Dry Creek Reservoir /Little Thompson Water District Loan Approval <br /> <br />ISSUE <br />Whether the Colorado Water Conservation Board can approve the Little Thompson <br /> <br />Water District's request for an increase in their loan amount without the approval of the <br /> <br />Colorado Legislature. <br /> <br />BACKGROUND <br /> <br />In November 2002, the Colorado Water Conservation Board (the "Board") approved a <br /> <br />loan in the amount of $3,937,500 to the Little Thompson Water District (the "L TWD") for the <br /> <br />construction of a new Dry Creek Reservoir near Berthoud, Colorado. At the time, the limit for <br /> <br />the Board's loan approval was one million dollars. All loans above this amount were subject to <br /> <br />approval by the Colorado Legislature (the "Legislature"). The loan was submitted to and <br /> <br />approved by the Legislature and included in the 2003 Construction Fund Bill (SB 03-110). In <br /> <br />the same bill, the loan approval limit for the Board, without the Legislature's approval, was <br /> <br />l_ _ <br />