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<br />. <br /> <br />COlORADO WATER CONSERVATION BOARD <br />Department of Natural Resources <br /> <br />823 State Centennial Building <br />1313 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br /> <br />STATE OF COLORADO <br />8" <br />'. ~' .. <br />, ; <br /> <br />Richard O. Lamm <br />Governor <br /> <br />M E M 0 R A <br /> <br />N DUM <br /> <br />J. William !\IIcOonald <br />Director <br /> <br />David W. Walker <br />Deputy Director <br /> <br />TO: Members, CWCB <br /> <br />F~OM: Bill McDonald <br /> <br />DATE: September 30, 1982 <br /> <br />SUBJECT: Agenda Items Sa and b, October 7, 1982, Board Meeting-- <br />Construction Fund Program <br /> <br />Introduction <br /> <br />. <br /> <br />In anticipation of the Board's action On completed <br />feasibility studies at the next meeting, I thought it would be <br />well to preview these upcoming projects in light of the reduced <br />funding available in the construction fund and the issues of first <br />impression which some of the proposed projects may present. Also, <br />I am advised that some project sponsors will be present at the <br />meeting to speak briefly to the Board about their proposed <br />projects. <br /> <br />Status of Construction Fund <br /> <br />As of this date, there is about $11.3 million in the <br />construction fund (see enclosure). The only income which will <br />accrue to the construction fund in FY 82-83 will be about <br />$2.0 - 2.5 million of mineral leasing royalties, about $729,000 of <br />annual repayments, and about $1.1 million of interest (assuming <br />the state treasurer's investments average a ten percent rate of <br />return) . <br /> <br />Status of Severance Tax Trust Fund <br /> <br />Fifty percent of the state severance tax on minerals and <br />mineral fuels is credited to the state severance tax trust fund <br />(39-29-108(2), C.R.S. 1973, as amended). This <br /> <br />220 <br />ai/8a,b <br /> <br />Robert A. jackson, Chairman _ John R. Fetcher. Vice Chairman <br />CM. FufI'leaull:, FlOyd L Getz. Dale F. Grant, Rich3fd w. lohmton. Jr., Frederick V. Kroeger. David W. Robbins. Herbeft H. Vandemeer <br />