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<br />Report on Authority's Activities <br />November 3,1994 <br />Page 2 <br /> <br />e <br /> <br />Potential legislation <br /> <br />The Board of Directors authorized staff to develop legislation for the next session which would create a <br />drinking water revolving fund within the Authority. This fund would be very similar to the Water Pollution <br />Control Revolving Fund (37-95-107.5, C.R.S.). The creation of the drinking water revolving fund would be <br />in anticipation of the reauthorization of the Federal Safe Drinking Water Act in early 1 995. Staff will be <br />working closely with the Colorado Board of Health and the Division of Local Government in the <br />development of this legislation. <br /> <br />Joint Resolution <br /> <br />The Board of Directors also authorized staff to proceed with a joint resolution which would allow the <br />Authority to consider the financing of a $6,500,000 water treatment plant for Upper Eagle Regional Water <br />Authority. Upper Eagle has borrowed the maximum amount available under the Small Water Resources <br />Projects Program, and as a result has requested the Authority to consider utilizing its moral obligation <br />pledge to secure a much more attractive interest rate. <br /> <br />Under 37-95-107, C.R.S., the Authority must provide a feasibility study to the CWCB for its review. After <br />reviewing the study the CWCB then forwards the study to the general assembly together with its <br />recommendation as to whether or not the proposed project should be authorized by the general assembly. .. <br />The feasibility study will be forwarded to the CWCB as soon as possible for consideration in January. ., <br /> <br />../-. <br />--......... "-, <br /> <br />e <br />