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<br />Now, on the rest of them on this sheet, we will expect to take <br />definitive action at our May meeting. All those that are interested <br />will have to accommodate their schedules to that end. <br /> <br />Mr. Ward Fischer: Mr. Chairman, actually the board will do what it has <br />to do. Could I respectfully suggest that your decision on the Poudre <br />be deferred until sometime later in the year when we might again meet <br />on this side of the mountain so that more o,f us could attend. <br /> <br />1 <br /> <br />Mr. Stapleton: People from the western slope come over here to Denver <br />in droves all the time. I have a feeling that you will have a good <br />representation at Grand Junction. <br /> <br />We will recess until 1:30 p.m. <br /> <br />The meeting recessed for lunch at 12:00 o'clock noon and reconvened <br />at 1:30 p.m. <br /> <br />Mr. Sta~leton: We will call the meeting to order. In looking over the <br />agenda or the rest of the day,.,.tf see,Pls to m~" t.11~1;: ,~~ ought to go to <br />agenda item 5. I think there arer~Rrb~r~1pebple here interested in <br />that, and perhaps not as interested in other parts of the agenda. That <br />is the Colorado Water Conservation Board Construction Fund. You will <br />note from the materials you have that the director is recommending <br />approval of three projects at this time, Allenspark project, Meeker <br />project and the Gunnison project. <br /> <br />Larry, I think if you will review where we stand on the other applica- <br />tions then we will get into these three projects. I know Mayor Lake <br />of Gunnison is here and others. We will get some remarks from them, <br />but will you give us the background of where the staff stands on the <br />applications. <br /> <br />Mr. Sparks: In 1973, we started receiving applications for assistance <br />from this fund. We currently have some twenty-five applications pending. <br />The total cost of all of those projects vastily exceeds the authorized <br />fund. However, it was never contemplated that the fund would bear the <br />entire cost of any project. <br /> <br />In every case the problem is arranging the financing. We can usually <br />get a feasibility report done in six months or so. The financing <br />package is much more difficult. These applications are coming in large <br />part from small municipalities with a small tax base. Working out the <br />financing arrangements has been quite difficult. We have now several <br />project reports which are essentially completed, but we have not been I <br />able to complete as yet the financing requirements. Under the law, <br />this board has to certify to the legislature the complete package. That <br />is, we have to say where the mO):J.,eY,...f.,~","~oWiJ~' trom ,and" the contractual <br />arrangements to return the state's 1nve~tffient'. <br /> <br />The act that we are working under was patterned after the Utah act. <br />Utah has no limit upon the amount of appropriation which can be made <br />by the state. Under our act we alre limited to a revolving fund of ten <br />million dollars. The legislature at any time in the future could <br /> <br />-27- <br />