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I <br /> 4.9 De-Authorized Loans <br /> Authorized projects which show no activity may be de-authorized to allow new projects to <br /> proceed, especially those that may have a better chance of coming to fruition. If an appropriation <br /> has not been encumbered within two years after legislative approval,the Board staff will work with I <br /> the project sponsor to determine if the project can go forward or if it should be de-authorized. After <br /> a project has been completed, the remaining unspent but still encumbered funds are de-authorized <br /> as soon as possible. i <br /> The Board recommended, and the General Assembly approved, eight loans totalling $6.82 million <br /> that were de-authorized in FY98. A list of previously de-authorized loans is included in Appendix <br /> D. <br /> I <br /> Water Project Construction Loan Program 1 <br /> De-authorized Loans <br /> 8 $7,316,205 <br /> $6,817,892 I <br /> 6 <br /> c <br /> $3,901,204 - <br /> 4 <br /> $2,750,250 <br /> 2 j ---$1,703,069- $1;63 , <br /> $1,188,182 $1,430,000 <br /> $408,000 <br /> 1990 1991 1992 1993 1994 1995 1996 1997 1998 <br /> 1 <br /> r <br /> I <br /> r <br /> CWCB FY98 Annual Report,page 32 t <br />