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increase in the authorized Board cost for the Sed.gwick- <br /> Sand Draws project. If the increase is not available <br /> this summer, the U. S. Soil Conservation Service cannot <br /> proceed with completion of the project. If the Service <br /> then withdrew its funding and refused to roll it <br /> forward into federal FY 85, approximately $4. 5 million <br /> of federal money would be lost. <br /> 4. Sections 9 and 10 of the bill amend the Board ' s <br /> construction fund statutes to make it clear that the <br /> Board makes loans for project financing. Since the <br /> program has operated from its inception without these <br /> clarifications, it obviously could go for another <br /> year. However, at least two projects (Hayden and <br /> Broomfield ' s Great Western Reservoir) need these <br /> amendments before their projects can go forward. This <br /> is because they have run into problems in giving fee <br /> title to their projects to the state, as now required. <br /> 5. Section 11 approves the site development plan for the <br /> already authorized Stagecoach Reservoir project. <br /> Absent this approval and the authority provided by <br /> section 2 to proceed with land and water rights <br /> • appraisals, the construction start scheduled for 1986 <br /> will be delayed until 1987 . However, this would not be <br /> critical, because there is no immediate need for the <br /> reservoir ' s water supply. <br /> JWM/gl <br /> cc : David Getches <br /> • <br /> 4 <br /> MEMORANDUM -2- March 26, 1984 <br />