Memorandum Agenda Item 15‎(a)‎ 11/14/2003

• Description: Western Area Power Administration Loan - Interest Rate, Collateral and Term
• Date: 11/14/2003
• Water Supply Pro - Doc Type: Board Memo

STATE OF COLORADO
CONS/
Water Conservation Board L=
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Department of Natural Resources
1313 Sherman Street,Room 721 **�
Denver,Colorado 80203 ',*1876{`
Phone:[phone] g •-• . 19 rr31
FAX:[phone] tread anne'Atect°n
www.cwcb.state.co.us
MEMORANDUM Bill Owens
Governor
(Updated November 26, 2003)
Greg E.Watcher
Executive Director
TO: Colorado Water Conservation Board Members
FROM: Dan McAuliffe Rod Kuharich
CWCB Director
DATE: November 14, 2003
RE: Agenda Item 15(a) --Western Area Power Administration Loan Dan McAuliffe
—Interest Rate, Collateral and Term Deputy Director
Background
• Public Law 106-392 authorizes the Bureau of Reclamation to construct capital projects
associated with the Upper Colorado and San Juan River Endangered Fish Recovery Programs.
The law authorizes:
(1) the Secretary to accept contributed funds from Colorado,New Mexico,Utah, and Wyoming,
or political subdivisions or organizations thereof,pursuant to agreements that provide for the
contributions to be used for capital project costs;
(2) the Secretary and the Secretary of Energy, acting through the Western Area Power
Administration, to utilize for such projects power revenues collected pursuant to the
Colorado River Storage Project Act; and,
(3) the Secretary to utilize such power revenues for the annual base funding contributions to the
programs by the Bureau for a specified period. Requires the Secretary to report to the
appropriate congressional committees on the utilization of such power revenues.
Section 3(c) (2) of the Act also specifically authorizes power revenues collected pursuant to the
CRSP Act to be used as a source of funding for the capital construction projects of the two
recovery programs:
(2) In addition to the contribution described in paragraph(1), the Secretary of Energy,
acting through the Western Area Power Administration, and the Secretary of the Interior,
acting through the Bureau of Reclamation, may utilize power revenues collected pursuant
to the Colorado River Storage Project Act to carry out the purposes of this subsection.
• Such funds shall be treated as reimbursable costs assigned to power for repayment under
section 5 of the Colorado River Storage Project Act. This additional contribution shall not