BOARD00927

• Board Meeting Date: 11/23/1998
• Description: CF Section - Special Purpose Accounts - Arkansas River Augmentation Loan Account - Replacement of Funds
• Board Meetings - Doc Type: Memo

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Colorado Water Conservation Board
Department of Natural Resources
721 Centennial Building
1313 Sherman Street
Denver, Colorado 80203
Phone: [phone]
FAX: [phone]

STATE OF COLORl\DO

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MEMORANDUM

Roy Romer
Governor
James S. Lochhead
Executive Director, DNR

DariesC. Lile, P.E.
Director, ewes
Peter H. Evans
Acting Director, aves

TO:

Colorado Water Conservation Board Members

Bill Stanton, P.E., Chief, Planning and Construction Wf?' r
Bill Green, P.E., Manager of Planning, Planning and Construction 1?

FROM:

DATE:

November 17,1998

RE:

Agenda Item 27a. Water Project Construction Loan Program-
Special Purpose Accounts -
Arkansas River Augmentation Loan Account - Replacement of Funds

Introduction

The Board will be asked to consider a recommendation to the General Assembly to
transfer $2.0 million from unreserved cash in the Construction Fund to the Arkansas
River Augmentation Loan Account.

Backl!:round

HB 95-1155 created the Arkansas River Augmentation Loan Account in the Construction
Fund, and directed the State Treasurer to transfer $1.5 million from unreserved cash in
the Construction Fund into the account. Section 17 of SB97-008 increased the total
amount the Board is authorized to expend from the account to $3.5 million. The
following table summarizes loans approved since inception of the account in 1995.

Loans Approved by the CWCB from the
Arkansas River Augmentation Loan Account

Approved Contract Expended Contract
Date Borrower Amount Amount to Date Balance
Oct LA WMA, Bridge Loan $ 750,000 $ 750,000 $711,433 $ 38,567
1995 (Repaid)
May LA WMA, Highland 2,300,000 2,300,000 1,875,584 424,416
1997 Irrigation Co. Shares
Sept Arkansas Ground water 650,000 590,590 590,590 0
1997 Users Association (AGUA)