Laserfiche WebLink
<br />- 2- <br /> <br />The money in the fund is continuously appropriated to the Board for immediate availability. <br />The fund is intended to provide flexibility for the Board to make financial resources available in a <br />timely manner when the legislative approval process would be a significant fl11ancial hardship to a <br />borrower and adversely impact the ability of the State to deliver the required Arkansas River <br />Compact flows at the state-line. <br /> <br />Discussion <br /> <br />The Arkansas River Augmentation Loan Fund has proven to be an effective tool for the State <br />in response to the water supply needs of the Arkansas River basin water users related to satisfYing <br />the state-line flow requirements of the Arkansas River Compact. The need to have loan funds <br />available to water users in a timely manner will continue in the future. Section 20 of SB03-11 0 <br />amended 37-60-122(1)(b) of the Colorado Revised Statutes to authorize the Board to "make loans <br />without general assembly approval in amounts not to exceed five million dollars." This statute <br />change has virtually eliminated the need for the Arkansas River Augmentation Loan Fund since the <br />entire fund was limited to a total fund balance, after three appropriations, to $5.5 million, whereas <br />now the Board can make loans up to $5 million at any time. <br /> <br />Recommendation <br /> <br />Staff recommends that the Board consider a motion to recommend that the General <br />Assembly direct the State Treasurer to transfer the remaining fund balance in the Arkansas River <br />Augmentation Loan Fund back into the Construction Fund and repeal Colorado Revised Statute 37- <br />60-130 accordingly. <br /> <br />Flood Protection. Water Project Planning and Financing. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />