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<br />y' <br /> <br />} <br /> <br />e <br /> <br />. <br /> <br />. <br /> <br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX: (303) 866-4474 <br />www.cwcb.state.co.us <br /> <br /> <br />MEMORANDUM <br /> <br />Bill Owens <br />Governor <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />TO: <br /> <br />Colorado Water conservtzZtion o:rrd Members <br /> <br />Mike Serlet, P.E., Chief, <br />Water Supply Planning an inance Section <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />FROM: <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />DATE: January 10, 2003 <br /> <br />SUBJECT: Agenda Item 16a - January 22-23, 2003, Board Meeting <br />Water Supply Planning and Finance - Policy Revisions <br />Policy #5 - Collateral for Construction Fund and Severance Tax Trust Fund <br />Perpetual Base Account Project Loans <br /> <br />Introduction <br /> <br />Appraisals: <br />At the November 25-26, 2002 Board Meeting the Board requested staff to consider an <br />addition to financial policy #5 regarding collateral for Construction Fund and Severance Tax project <br />loans. The addition was regarding how the value of real property used as loan collateral should be <br />determined. In order to make the following recommendations to the Board, staff has reviewed the <br />Colorado Board of Real Estate Appraisers Rules regarding appraiser certifications and inquired into <br />the land acquisition practices of the Division of Wildlife. <br /> <br />Parity: <br />Staff is also recommending an addition to the policy regarding collateral requirements that <br />will further assure repayment of CWCB Construction Fund and Severance Tax Trust Fund Perpetual <br />Base Account loans. <br /> <br />Backl!round <br /> <br />Appraisals: <br />The Colorado Board of Real Estate Appraisers, acting through Colorado Revised Statutes <br />and Board adopted rules, administers the registration, licensure, and certification of real estate <br />appraisers in the state of Colorado. The Board recognizes four levels of appraisers identified in the <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />