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1 2.7 Arkansas River Augmentation Loan Account <br /> HB 95-1155 created the Arkansas River Augmentation Loan Account in the Construction Fund, <br /> and directed the State Treasurer to transfer$1.5 million from unreserved cash in the Construction <br /> Fund into the account. A short term bridge loan was made to the Lower Arkansas Water <br /> Management Association(LAWMA)in FY95-96,but it was fully repaid to the account through the <br /> financing package out of the Construction Fund to LAWMA authorized in SB 96-124. Section 17 <br /> of SB97-008 increased the total amount the Board is authorized to expend from the account to $3.5 <br /> million. The balance of the Arkansas River Augmentation Loan Account was reported in COFRS <br /> to be $2.20 million on June 30, 1997. <br /> Contract Approved Contract <br /> Date Borrower Counties Amount Amount <br /> Oct 1995 Lower Arkansas Water Management Association- Prowers $750,000 $750,000 <br /> Bridge Loan <br /> ' May 1997 Lower Arkansas Water Management Association- Prowers $2,300,000 $2,300,000 <br /> Water Rights Purchase <br /> ISep 1997 Arkansas Groundwater Users Association- Fremont $ 650,000 $ 590,590 <br /> Water Rights Purchase Pueblo <br /> 2.8 Salinity Sa ty Control Program Loan Account <br /> SB97-008 authorized the Board to expend a cumulative total of $1,000,000 from the <br /> Construction Fund for loans to participants in the Colorado River basin Salinity Control Program. <br /> Such loans shall be at the terms and conditions the Board determines after review and approval of <br /> each potential participant's application. The loan amount shall not exceed 50% of the total cost of <br /> constructing any particular salinity control project. No loans have been considered by the Board, <br /> and the balance in the account at the end of the fiscal year was $1,000,000. <br /> 2.9 Horse Creek Basin Loan Account <br /> SB97-008 authorized the creation of the Horse Creek Basin Account in the Construction Fund <br /> ' with an initial balance of$915,000. The Board was authorized to make loans from the account to <br /> borrowers in the Horse Creek basin for the purpose of acquiring water rights. An initial loan of <br /> $825,000 from the account was approved by the Board for the Horse Creek Water Users Association, <br /> but contract negotiations have not been completed. The balance of the account remained at$915,000 <br /> at the end of the fiscal year. <br /> I <br /> 111 CWCB FY97 Annual Report,page 11 <br />