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<br />, <br /> <br />, <br /> <br />. <br /> <br /> <br /> <br />Logan Tower Bldg. - Suite 620,1580 Logan Street, Denver, Colorado 80203-1942 <br /> <br />303/830-1550 FAX 303/832.8205 <br /> <br />MEMORANDUM <br />January 27,1998 <br /> <br />TO: <br /> <br />Members, Colorado Water Conservation Board, and Chuck Lile <br /> <br />FROM: <br /> <br />Daniel L. Law, Executive Director <br /> <br />RE: <br /> <br />Director's Report <br /> <br />Small Water Resources Proiects <br /> <br />The Authority has prepared legislation to revise the Small Water Resources Projects <br />language in our statute. Senate Bill 98-078, sponsored by Senator Don Ament, increases <br />the $10 million project limitation to $25 million, eliminates the current funding exceptions <br />for water rights, planning and environmental mitigation and documentation, and revises the <br />CWCB review of projects involving raw water diversion or storage to a notification process. <br />The bill also clarifies the definition of a hydroelectric project, incorporates "enterprises" into <br />the definition of governmental agencies and changes the Authority's annual reporting date. <br />To make the program more attractive, other administrative revisions dealing with costs of <br />issuance and annual fees have been authorized by the Authority Board for 1998. The bill <br />passed the Senate Ag Committee last week, <br /> <br />A refunding ($12,5 million) of the 1991 Series A and 1992 Series A bond issues was sold <br />on December 10 and closed January 8, The present value savings were 7% for the <br />borrowers in the 1991 Series A issue and 5.5% for the borrowers in the 1992 Series B <br />issue. <br /> <br />Water Pollution Control Revolving Fund <br /> <br />Staff is working on a March bond issue to fund $55.2 million in loans to Trinidad ($6.7 <br />million), Buena Vista Sanitation District ($3.9 million), Eagle River Water and Sanitation <br />District ($18 million) Colorado Springs ($22.5 million) and Westminster ($4,1 million). In <br />addition a direct loan is being considered for Fowler ($500,000). With these loans the total <br />loan pool would be $260 million, <br /> <br />The joint resolution (SJR98-004), adding and deleting projects, has been introduced. This <br />resolution adds 29 projects and deletes 12 projects~ The resulting eligibility list will have <br />139 projects representing over $375 million of funding need. <br />