PUB00073

• Year: 1997
• Title: Construction Fund Annual Report 1997
• CWCB Section: Finance
• Author: CWCB
• Description: Construction Fund Annual Report 1997
• Publications - Doc Type: CF Annual Report

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2.7 Arkansas River Augmentation Loan Account

HB 95-1155 created the Arkansas River Augmentation Loan Account in the Construction Fund,
and directed the State Treasurer to transfer $1.5 million from unreserved cash in the Construction
Fund into the account. A short term bridge loan was made to the Lower Arkansas Water
Management Association (LA WMA) in FY95-96, but it was fully repaid to the account through the
financing package out of the Construction Fund to LA WMA authorized in SB 96-124. Section 17
of SB97 -008 increased the total amount the Board is authorized to expend from the account to $3.5
million. The balance of the Arkansas River Augmentation Loan Account was reported in COFRS
to be $2.20 million on June 30, 1997.

Contract Approved Contract
Date Borrower Countip.!l Amount A. mount
Oct 1995 Lower Arkansas Water Management Association - Prowers $ 750,000 $750,000
Bridge Loan
May 1997 Lower Arkansas Water Management Association - Prowers $ 2,300,000 $ 2,300,000
Water Rights Purchase
Sep 1997 Arkansas Groundwater Users Association - Fremont $ 650,000 $ 590,590
Water Rights Purchase Pueblo

2.8 Salinity Control Program Loan Account

SB97-008 authorized the Board to expend a cumulative total of $1,000,000 from the
Construction Fund for loans to participants in the Colorado River basin Salinity Control Program.
Such loans shall be at the terms and conditions the Board determines after review and approval of
each potential participant's application. The loan amount shall not exceed 50% of the total cost of
constructing any particular salinity control project. No 10ans have been considered by the Board,
and the balance in the account at the end of the fiscal year was $1,000,000.

2.9 Horse Creek Basin Loan Account

SB97 -008 authorized the creation of the Horse Creek Basin Account in the Construction Fund
with an initial balance of$915,000. The Board was authorized to make 10ans from the account to
borrowers in the Horse Creek basin for the purpose of acquiring water rights. An initialloan of
$825,000 from the account was approved by the Board for the Horse Creek Water Users Association,
but contract negotiations have not been completed. The balance of the account remained at $915,000
at the end of the fiscal year.

CWCB FY97 Annual Report, page 11