CWCB Construction Fund and Severance Tax Trust Fund Annual Report 1999

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I 4.0 Water ram Project Construction Loan Program 4.1 Eligible Projects Under authority of Section 37-60-119 and 121, CRS, the monies in the Construction Fund are to be used for new storage projects which increase the beneficial consumptive use of Colorado's compact-entitled waters and for the repair and rehabilitation of existing storage and raw water delivery systems. The CWCB may recommend funding of the following types of water projects through this program: • Construction of new reservoirs or enlargement of existing dams to enhance water supplies and develop Colorado's compact entitlement. • Rehabilitation of existing dams to meet safety standards and to recover lost storage capacity. • Repair or construction of water resources infrastructure for agricultural or municipal raw water supply systems including such facilities as diversion structures, canals, ditches, and pipelines. • Improvements in water management to increase water use efficiency, to maintain or increase water supplies, or to increase beneficial consumptive use. • Mitigation of impacts on fish and wildlife due to dam construction. • Improvements in management of information about Colorado's water. I The CWCB does not currently provide funding for municipal water treatment and distribution systems. Up to 5-percent of the Board's annual revenue may be used to finance flood control projects. The costs of acquisition of land and water rights are not eligible for CWCB funding except as part of a project and under certain special conditions. The CWCB's financial participation in any single project is generally limited to a certain percentage of the total engineering and construction cost of the project. The Board may loan up to 50-percent of the cost of a feasibility study for a water project. The Board's feasibility study loan must be repaid whether a project is constructed or not. Middle and high income municipalities and commercial water users may borrow up to 75-percent of the construction costs of a project. Agricultural and low income municipalities may borrow up to 90-percent of the construction costs of a project. 4.2 Construction Fund Criteria In 1981 the Legislature adopted criteria for the use of the Construction Fund as set g p forth in section 37-60-121 (1)(b), CRS. This criteria was changed in 1992 with the passage of SB 92- 87. Actions taken by the Board concerning the construction fund _ CWCB FY99 Annual Report,page 23