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<br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Shennan 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 />Bill Owens <br />Governor <br /> <br />Russell George <br />Executive Director <br /> <br />MEMORANDUM <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />TO: <br /> <br />Colorado Water Conservation Board Members <br /> <br />FROM: <br /> <br />Mike Serlet, P.E., Chief <br />Water Supply Planning and Finance Section <br /> <br />DATE: <br /> <br />July 8, 2005 <br /> <br />SUBJECT: <br /> <br />Agenda Item 7a - July 25-26, 2005, Board Meeting <br />Water Supply Planning and Finance - Policy Review <br />Policy #18 - Emergency Loans from the Construction Fund and Severance Tax <br />Trust Fund Perpetual Base Account to Covered Entities Without Water <br />Conservation Plans <br /> <br />Introduction <br /> <br />At the May 2005 Board meeting in Salida, the Board discussed proposed guidelines for water <br />conservation plans, specifically as they pertain to covered entities requesting loans from the <br />Colorado Water Conservation Board (CWCB) Construction Fund and Severance Tax Trust Fund <br />Perpetual Base Account. During the discussion, the Board directed staff to review the process <br />involved with approving, contracting and disbursing an emergency loan request from a borrower. <br />The Board also requested staff to review the possibility of imposing a "loan surcharge" to those <br />covered entities requesting a loan that do not have water conservation plans in place. This memo <br />addresses those issues and will attempt to generate further Board discussion in the establishment of a <br />policy. <br /> <br />Background <br /> <br />The language in the water conservation plan guidelines (attached with the Staff's suggested <br />alternative language that was also presented at the May Board meeting), reviewed and approved by <br />the Board at the May Board meeting, stated that no loan proceeds would be released to a covered <br />entity that did not have a water conservation plan, except if it was determined by the Board that an <br />unforeseen emergency existed in relationship to the loan application. The language further states <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />