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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 />MEMORANDUM <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />TO: <br /> <br />Colorado Water Conservation Board Members <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />FROM: <br /> <br />Mike Serlet, P.E. <br />Chief, Water Supply Planning and Finance Section <br /> <br />DATE: <br /> <br />November 12, 2003 <br /> <br />SUBJECT: <br /> <br />Agenda Item #13b - November 19-21, 2003, Board Meeting <br />Water Supply Planning and Finance - Special Purpose Funds <br />Arkansas River Augmentation Loan Fund - Repeal Fund <br /> <br />Introduction <br /> <br />Nine projects with loan contracts totaling over $10,000,000 have been fl11anced through the <br />Board's Arkansas River Augmentation Loan Fund. With a loan to the Lower Arkansas Water <br />Management Association in July 2003, the fund has been depleted. In 2003 through SB03-110, the <br />Legislature authorized the Board to make loans of up to $5.0 million without legislative <br />authorization. This action has in effect removed the reasons for the existence of the Arkansas River <br />Augmentation Loan Fund. <br /> <br />Backl!round <br /> <br />In 1995 through HB 95-1155 (37-60-130 C.R.S.), the Legislature authorized the Board to set <br />aside $1.5 million of Construction Fund money in a special fund reserved for the "purpose of <br />making loans to organizations or entities for the purchase of augmentation water or the rights to such <br />water, to replace out-of-priority depletions to surface water rights and to prevent material depletions <br />of usable state-line flows in violation of the Arkansas river compact." Additional appropriations of <br />$2.0 million each were made through SB 97-008 and SB 99-173, for a total appropriation of $5.5 <br />million. <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />