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I <br /> Construction Fund to LAWMA authorized in SB 96-124. Section 17 of SB97-008 I <br /> increased the total amount the Board is authorized to expend from the account to $3.5 <br /> million. Section 18 of SB 99-173 allocated an additional $2 million to the account, <br /> Il <br /> bringing the total the Board is authorized to expend from the account to $5.5 million. <br /> Due to a conflicting interpretation of SB 99-173 (Section 18) by the Department of <br /> Natural Resources Controller, the funds were not transferred from the Construction Fund <br /> unreserved cash into the account. The FY 2000 Construction Fund Bill will reconcile <br /> this conflict by clarifying the SB 99-173 Section 18 language. The unavailability of <br /> account funds caused by this conflict has not adversely effected the users of this loan <br /> account. The balance of the Arkansas River Augmentation Loan Account available for <br /> loans was reported in COFRS to be $0.57 million on June 30, 1999. <br /> I <br /> TABLE 5 I <br /> Loans Approved by the CWCB from the <br /> Arkansas River Augmentation Loan Account I <br /> Contract Authorized Contract <br /> Date Borrower Counties Amount Amount <br /> Oct 1995 Lower Arkansas Water Prowers $ 750,000 $ 750,000 <br /> Bridge Loan I <br /> May 1997 Lower Arkansas Water Prowers $2,300,000 $2,300,000 <br /> Water Rights Purchase <br /> Sep 1997 Arkansas Groundwater Users Fremont $ 650,000 $ 590,590 <br /> Association - Water Rights <br /> Purchase <br /> Totals $3,700,000 3,640,590 <br /> I <br /> 2.7 Salinity Control Program Loan Account <br /> SB97-008 authorized the Board to expend a cumulative total of$1,000,000 from the I <br /> Construction Fund for loans to participants in the Colorado River basin Salinity Control <br /> Program. Such loans shall be at the terms and conditions the Board determines after <br /> review and approval of each potential participant's application. The loan amount shall <br /> not exceed 50% of the total cost of constructing any particular salinity control project. <br /> No loans have been considered by the Board, and the balance in the account at the end of <br /> the fiscal year was $1,000,000. <br /> I <br /> CWCB FY99 Annual Report,page 14 <br />