Colorado Water Resources & Power Development Authority Jan 2003

Home Browse Search

Board Meeting Minutes December 6, 2002 Page 6 of 7 Resolution No. 02 -35 Motion By: Sara Duncan • 2 "d By: Randall Palmgren Vote: Motion Carried La Plata Future Proiects Escrow — Resolution No. 02 -37 Dan Law referred to the letter received from the La Plata Water Conservancy District requesting funding for the Red Mesa project for the purpose of completing the project proposal and selecting a design engineer. A motion was made to adopt Resolution No. 02 -37 authorizing the expenditure of $20,000. Motion By: Dick Pryor 2 "a By: Steve Harris Vote: Motion Carried New Business Report of Program Review Committee Steve Harris reported on the remaining two items of the Program Review Committee's agenda, beginning with the evaluation of excess earnings for loans in the early Clean Water bond issues. The Committee had agreed with the five -step proposal (see handout) as amended to return the earnings first to the borrowers and then to the re -loan account of the WPCRF. A motion was made to adopt the five -step proposal as amended. Motion By: Steve Harris 2 'd By: Bob Carlstrom Vote: Motion Carried The second item discussed was to subsidize the bond issuance cost on the Small Water Resources • Projects and Water Revenue Bonds programs. Following discussion of exactly what costs would be subsidized, a motion was made to subsidize all bond issuance costs on the SWRP and WRB. Motion By: Steve Harris 2 "d By: Sara Duncan Vote: Motion Carried, Tom Sharp Opposed Steve Harris left the meeting at 1:25 p.m. Report of Personnel Committee Ann Nichols reported that the Personnel Committee had approved a market increase of 1.8% on the high end of the salary ranges with increase to the low side, had set the Executive Director's salary at $131,700, and recommended a new market study of salaries and all benefits prior to the 2003 annual Personnel Committee review. A motion was made to adopt the Personnel Committee's recommendation. Motion By: Ann Nichols 2'd By: Louis Rinaldo Vote: Motion Carried Arrangements for Future Meetings - The next Board of Directors meeting will be held at 2:00 p.m. on Friday, January 24, 2003 in conjunction with the Colorado Water Congress Annual Convention. Other meetings are tentatively scheduled for March 7`'' and April 24h. Board member confirmation hearings will be tentatively scheduled for January 23`a. Adiournment • The meeting was adjourned at 1:30 p.m.