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<br />Water Supplv Planning and Finance <br /> <br />The CWCB Construction Fund was created by the Colorado General Assembly in 1971 <br />to provide low interest loans to water users in the development of water resource projects. <br />The fund and its use are governed by ~ 37-60-121 through 125 C.R.S. The CWCB <br />Construction Fund is a partially self-supporting revolving loan fund. Sources of revenue <br />are from the return of principal and interest on outstanding loans, interest earned on the <br />cash balance of the fund through investments by the state Treasurer, mineral lease fund <br />distributions, and occasional cash transfers from the General Assembly. The types of <br />projects that are eligible for funding are specified by state statute. <br /> <br />Another funding source is the Severance Tax Trust Fund Perpetual Base Account. <br />Twenty-five percent ofthe revenues collected from the production of oil, gas, coal and a <br />few other minerals are set aside for loans for water projects (32-29-109 C.R.S.) <br /> <br />Pursuant to a Drought or Drought Disaster Declaration. the CWCB Director. in <br />consultation with the State Engineer. the Executive Director of the Department of Natural <br />Resources and the Commissioner of Agriculture mav also provide UP to $1 million in <br />grants and loans from the Perpetual Base Account to agricultural organizations for <br />emergencv drought-related water augmentation purposes and must report annuallv to the <br />General Assemblv regarding how such spending authoritv was exercised. <br /> <br />The Board is also statutorily allowed to annually request up to five percent ofthe funds in <br />the Severance Tax Trust Fund Operational Account for projects and programs that relate <br />to energy, mining, geology and water. In requesting these funds the Board cooperates and <br />consults with the state Minerals, Energy and Geology Policy Advisory (MEGA) Board. <br />The requests for funds are reviewed by the CWCB, the MEGA and are the DNR <br />Executive Director who may forward such requests to the Governor and the General <br />Assembly for consideration and appropriation through the Long Bill (32-20-104 and 32- <br />29-109 C.R.S.) <br /> <br />/'.14. ;; L>> s:r.- <br />Instream Flow and Natural Lake Level Protection <br /> <br />The 1973 General Assembly enacted Senate Bill 97, which created the Colorado Instream <br />Flow and Natural Lake Level Program ("ISF Program") to be administered exclusively <br />by the CWCR The statutory authorities for the ISF Rules are found at ~ 37-60-108 <br />C.R.S. (1990) and ~ 37-92-102 (3) C.R.S. (1990). The basic purpose of these Rules is to <br />codify existing CWCB procedures for implementing this program. CWCB is responsible <br />for the appropriation and protection of instream flow and natural lake level water rights to <br />preserve the natural environment to a reasonable degree and the acquisition of water <br />rights to preserve and improve the natural environment. <br /> <br />The CWCB mav also accept loans of water rights for 120 davs in anv countv where the <br />Governor has declared a drought or other emergencv. subiect to conditions 07-83-105 <br />(2) (a)). <br /> <br />Page 4 of 5 <br />