BOARD00065

• Board Meeting Date: 11/23/1998
• Description: CF Section - Proposed Legislation - Evaluating Credit Worthiness
• Board Meetings - Doc Type: Memo

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Colorado Water Conservation Board

Department of Natural Resources
721 Centennial Building
1313 Sherman Street
Denver, Colorado 80203
Phone: [phone]
FAX: [phone]

STATE OF COLORADO

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Roy Romer
Governor
James S. Lochhead
Executive Director, DNR
Daries C. Ule, P.E.
Director, eWeB
Peter H. Evans
Acting Director, eweB

MEMORANDUM

TO:

Colorado Water Conservation Board Members

FROM:

William P. Stanton, P.E. ~'
Chief, Project Planning and Construction Section

DATE:

November 19, 1998

SUBJECT: Agenda Item 12c, November 23-24, 1998, Board Meeting -
Water Project Construction Loan Program - Proposed Legislation
Evaluating Credit Worthiness

Introduction

This memo provides the basis for the start of a discussion of the audit recommendation to evaluate
the relative credit worthiness and financial need of applicants for loans from the Construction
Fund.

Background

Recommendation # 8 of the 1998 Construction Fund Performance Audit was for the Board to
"develop and implement a systematic method for quantifYing and weighing the relative
creditworthiness and financial need of potential loan recipients. "

CWCB Response: AGREE. The CWCB staff will evaluate several options and present them for
consi.deration by the Board and interested constituencies before presenting recommendations to the
General Assembly. However, these options should be reviewed carefully with the appropriate
constituencies, including the Colorado Municipal League, the Special Districts Association, the
Colorado Water Congress and Colorado Counties, Inc. The review of these options and
development of recommendations for consideration by the Governor and General Assembly will be
completed by January 1,2000.