Board Meeting 10/07/1982

• Board Meeting Date: 10/7/1982
• Description: CWCB Meeting
• Board Meetings - Doc Type: Meeting

COLORADO WATER CONSERVATION BOARD
Department of Natural Resources
823 State Centennial Building
1313 Sherman Street
Denver, Colorado 80203
Phone: [phone]

STATE OF COLORADO
-

Richard D. lamm
GO\Iernor

M E M 0 R A

N DUM

J. William McDonald
Director

David W. Walker
Deputy Director

TO: Members, ewCB

FROM: Bill McDonald

DATE: September 30, 1982

SUBJECT: Agenda Items Sa and b, October 7, 1982, Board Meeting--
Construction Fund Program

Introduction

In anticipation of the Board's action on completed
feasibility studies at the next meeting, I thought it would be
well to preview these upcoming projects in light of the reduced
funding available in the construction fund and the issues of first
impression which some of the proposed projects may present. Also,
I am advised that some project sponsors will be present at the
meeting to speak briefly to the Board about their proposed
projects.

Status of Construction Fund

As of this date, there is about $11.3 million in the
construction fund (see enclosure). The only income which will
accrue to the construction fund in FY 82-83 will be about
$2.0 - 2.5 million of mineral leasing"royalties, about $729,000 of
annual repayments, and about $1.1 million of interest (assuming
the state treasurer's investments average a ten percent rate of
return).

Status of Severance Tax Trust Fund

Fifty percent of the state severance tax on minerals and
mineral fuels is credited to the state severance tax trust fund
(39-29-108(2), C.R.S. 1973, as amended). This

220
ai/8a,b

Robert A. Jackson. Chairman. John R. Fetcher, Vice Chairman
CM. Furneaux, Floyd l. Celz. Dale F. Gran!. Richard W. Johnston, Jr., Frederick V. Kroeger. David W. Robbins, Herbert H. Vandemaer