PUB00134

• Year: 1998
• Title: Construction Fund Annual Report 1998
• CWCB Section: Finance
• Author: CWCB
• Description: Construction Fund Annual Report 1998
• Publications - Doc Type: CF Annual Report

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3.4 Perpetual Base Account

The moneys in the fund as of July I. 1995, and one-half of the severance tax receipts credited
to the Severance Tax Trust Fund for fiscal years commencing on and after July I, 1995. shall be
credited to the Perpetual Base Account of the Severance Tax Trust Fund and used for state '....ater
projects pursuant to sections 37-60-119 and 37-60-122. C.R.S. The authorization and contract for
each such project shall require repayment of principal and interest to the Severance Tax Trust Fund
and moneys so repaid shall be credited to the Perpetual Base Account of the Severance Tax Trust
Fund.

Pursuant to Section 39-29-109 (I) (a) (1), CRS. the Colorado Water Conservation Board
recommended, and the General Assembly approved. authorization to provide loans from the
Severance Tax Trust Fund Perpetual Base Account tOlaling S9.94 million to fund 4 waler
development projects statewide. These projects are listed in the table below. Each loan represents
partial funding of the total cost of the projects. Additional details about these recommended projects
may be found in Appendix C.

TABLE 10
Colorado \Vater Conseryation Board
Loans Authorized from the Senraoce Tax Trust Fund Perpetual Base Account

Authorit)" Borro"'tr-Projed COUfUY Loan
Amount
SB97 -008 Eaglt Park Resen:oir Co. - Eagle Park Reservoir Rehabilitation Eagle S..a,OOO,OOO
HB98-1189 Highland Ditch Company - Foothills Reservoir Dam Rehabilitation Boulder $ 1.Q.l0.000
HB98-J189 City of Fort Morgan. Raw Water Plpeline* Morgan S..a,OOO,OOO
HB98-1189 Nonhern Colorado Water Assoc.. Purchase of Wells and Water Rights Larimer $900,000
Total $9,9.0.000

*loar.:o rd;narn:e a waler project wholly Of panlally complete<!

ewes FY9S Annual Report. page 21