Board Meeting 03/17/1980

• Board Meeting Date: 3/17/1980
• Description: Agenda and Minutes
• Board Meetings - Doc Type: Meeting

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The funding approach through a sinking reserve debt fund has one

advantage for large scale projects. In the bond market, it would

be possible to leverage a state tax dollar appropriation into 10-

$12 worth of bonds. There are several potential sources of revenue

to repay the indebtedness including sale of hydraulic power.In

multiple purpose projects, the legislature could appropriate funds

for these elements of a project which might not attract bond

financing. Particularly for irrigated agricultural purposes.

Concerning the relationship of the proposed authority and
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its repponsibilit~ and powers to other laws and entities, Mr.

Danielson inquired about an apparent conflict in the provision

that the authority can adopt any rules and regulations which would

have precedent over any other law or regulation but then there

is a statement "nothing in the article to be construed to amend

or affect any existing water law". There was cOnCernftK expressed

about the implications of those provisions on interstate contacts

in other water laws. Mr. McDonald indicated that he would keep

the Board informed about progress in that and other legislative

proposals.

Vice-Chairman, Kroeger, then asked for presentation of item

4 flood plains designations. Mf. McDonald described the pcoposed

resommtion beginning with item 156 and ending with 161. He called

the Board's attention to item l56.After discussion at the January

Board meeting, there has been lengthy negotiation with Weld county

Representatives. The issue is whether or not a complete emgineer-

ing study is needed to identify 100-year flood plains. Weld

county is taking a unique approach. It proposes to zone flood plain