BOARD00715

• Board Meeting Date: 11/20/2000
• Description: CF Section - Special Purpose Accounts - Colorado River Recovery Program Loan Account - Additional Funds
• Board Meetings - Doc Type: Memo

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STATE OF COLORADO

Colorado Water Conservation Board
Department of Natural Resources
1313 Sherman Street, Room 721
Denver, Colorado 80203
Phone: (303) 866,3441
FAX: [phone]
www.dnr.state.co.us/cwcb

Q)

Bill Owens
Governor

MEMORANDUM

Greg E. Walcher
Executive Director
Dan McAuliffe
CWCB Director
(Acting)

TO: Colorado Water Conservation Board Members

FROM: Mike Serlet, P.E,/IJ \
Chief, Water SupJrtplanning and Finance Section

DATE: November 13, 2000

SUBJECT: Agenda Item #17b, November 20-21,2000 Board Meeting
Water Supply Planning and Finance
Special Purpose Accounts
Colorado River Recovery Program Loan Account - Additional Funds

Introduction I Background

Section 11 of HB98-1189 created in the State Treasury as part of the CWCB
Construction Fund, the Colorado River Recovery Program Loan Account (CRRPLA).
The purpose of the account is to make loans to the Colorado River and San Juan River
Recovery Programs for construction or improvement of certain water related projects in
Colorado. These loans would be made to power users of the federal Colorado River
Storage Project required to recover the four endangered fish species of the upper
Colorado River, including the San Juan River, Loans from the account must be approved
by the General Assembly in accordance with Section 37-60-l22(l)(b), CRS. The Board
shall detennine the interest rate and repayment period for each loan. Interest earned in
the account is credited to the Construction Fund,

The State Treasurer was directed to transfer $2,000,000 from unreserved funds in the
Construction Fund into the account when it was created in 1998, Furthermore, pursuant
to Section 18 of SB 99-173 and Section 18 of HB 00-1419, the State Treasurer was
directed to transfer an additional $5,000,000 respectively from unreserved funds in the
Construction Fund into the account. The balance in the account therefore is currently
$12,000,000, The goal, when the account was created, was to establish a total of
$17,000,000 in the account to be used for the above stated purposes.

Flood Control and Floodplain Management-Larry Lang, Chief. Water Supply Planning and Finance.Mike Seelee, Chief. Instream
Flows and Water Rights Investigations-Dan Merriman, Chief. Interstate Streams Investigations-Randy Seaholm, Chief. Office of
Conservation Planning~William Stanton, Chief. Personnel and Budget-Don Wood, Chief ColoRiverAccount2001.doc