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enhance the District' s financial capability to meet its contract <br /> obligations. At this point Mr. Ioannides, Board staff member, <br /> pointed out that the District ' s financial capability was not <br /> based on the issuance of taps over and above those specified in <br /> the feasibility report. <br /> In the ensuing Board discussion, members Fetcher, Vandemoer <br /> and Jackson questioned the Board 's authority to approve construc- <br /> tion funds for the acquisition of water rights. Mr. Robbins <br /> moved, seconded by Mr. Jackson, that the Board not approve the <br /> use of unexpended construction funds to acquire the water rights <br /> proposed by the District. The motion was adopted by unanimous <br /> voice vote. <br /> Agenda Item 12, Satellite Monitoring System, was announced <br /> for discussion by the Chairman. In his remarks, Mr. McDonald <br /> stated that in October, 1982 , the Water Resources and Power <br /> Development Authority contracted with Environmental Research and <br /> Technology, Inc . to study a satellite monitoring system for <br /> stream gaging stations in Colorado. This firm completed a report <br /> entitled "Feasibility Study of Future Satellite Monitoring <br /> Systems and Services" in February, 1983. <br /> The Authority requested the Board to review this study <br /> pursuant to Section 37-95-107(1) and (4) CRS, 1973 , as amended . <br /> (See Appendix K and attached letter) <br /> -12- <br />