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<br />TABLE 5 <br />Loans Approved by the CWCB from the <br />Arkansas River Augmentation Loan Account <br /> <br />,I <br />'I <br />t <br />J <br />J <br />I <br />t <br />~ <br /> <br />Construction Fund to LA WMA authorized in SB 96-124. Section 17 of SB97-008 <br />increased the total amount the Board is authorized to expend from the account to $3.5 <br />million, Section 18 of SB 99-173 allocated an additional $2 million to the account, <br />bringing the total the Board is authorized to expend from the account to $5,5 million. <br />Due to a conflicting interpretation of SB 99-173 (Section 18) by the Department of <br />Natural Resources Controller, the funds were not transferred from the Construction Fund <br />unreserved cash into the account. The FY 2000 Construction Fund Bill will reconcile <br />this conflict by clarifying the SB 99-173 Section 18 language. The unavailability of <br />account funds caused by this conflict has not adversely effected the users of this loan <br />account. The balance of the Arkansas River Augmentation Loan Account available for <br />loans was reported in COFRS to be $0.57 million on June 30, 1999, <br /> <br />Contract <br />Date <br /> <br />BOlT1lwel <br /> <br />€ounti~ <br /> <br />Authorized <br />Amount <br /> <br />Contractj <br />A-mounr---------, <br /> <br />Oct 1995 <br /> <br />Lower Arkansas Water <br />Bridge Loan <br /> <br />Prowers <br /> <br />$ 750,000 $ 750,000 <br /> <br />Totals $3,700,000 <br /> <br />3,640,590 <br /> <br />'1 <br />, <br />l <br />I <br />~ <br />J <br /> <br />May 1997 <br /> <br />Lower Arkansas Water <br />Water Rights Purchase <br /> <br />Prowers <br /> <br />$2,300,000 $2,300,000 <br /> <br />Sep 1997 <br /> <br />Arkansas Groundwater Users <br />Association - Water Rights <br />Purchase <br /> <br />Fremont <br /> <br />$ 650,000 $ 590,590 <br /> <br />2.7 Salinity Control Program Loan Account <br /> <br />SB97-008 authorized the Board to expend a cumulative total of $1,000,000 from the <br />Construction Fund for loans to participants in the Colorado River basin Salinity Control <br />Program. Such loans shall be at the terms and conditions the Board determines after <br />review and approval of each potential participant's application. The loan amount shall <br />not exceed 50% of the total cost of constructing any particular salinity control project. <br />No loans have been considered by the Board, and the balance in the account at the end of <br />the fiscal year was $1,000,000, <br /> <br />CWCB FY99 Annual Report, page 14 <br />