Laserfiche WebLink
• <br /> Representative Strahle • <br /> August 26, 1983 • <br /> Page 2 <br /> We have discussed this issue with Mr. Lyle Kyle of Legislative Coun- <br /> cil and it in his view that the General Assembly clearly intended to <br /> transfer no more than $22.5 million plus interest from the CWC8/CF <br /> to the fiscal emergency fund. <br /> Given the apparent conflict between legislative .intent and the law, <br /> we have decided to leave $1.6 million in cash in the CWCB/CF but we <br /> have, pursuant to statute, accrued that amount as revenue to the <br /> fiscal emergency fund and a liability to the CWCB/CF. If you wish <br /> to change the language in CRS 24-75-211 to clarify legislative <br /> intent, a bill to this effect should be introduced to accomplish <br /> this revision. It should be noted, however, that a general fund <br /> balance of only $7,325 will not allow a transfer out of the general <br /> fund without an appropriation from 1983-84 revenues. If no change <br /> to CRS 24-75-211 is forthcoming, we will then proceed to transfer <br /> the $1.6 million cash from the CWC8/CF to satisfy the liability <br /> established as mentioned above. <br /> • <br /> Regardless of any further action, H.8. 1320 requires that the <br /> CWC8/CF be repaid all funds transferred plus interest by June 30, <br /> 1984, assuming revenues are available for such repayment. <br /> If you have any questions regarding this matter, please feel free to <br /> contact either of us. <br /> • Sincerely, <br /> Kenneth H. Torp <br /> Executive Director <br /> 47,PJames A. Stroup <br /> State Controller <br /> • <br /> I <br />