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.,= oflisted species and the importance of keeping more species from being listed without first developing a plan for addressing such listings, we may seek your support for a funds transfer. No recommendation is needed at this time. We will present you with a recommendation concerning 1) a FY 2001-2002 Trust Fund expenditure, and 2) a transfer from the Construction Fund to the Trust Fund in January. Funding for Colorado River ESA Programs As mentioned in the Director's Report, the federal legislation authorizing Reclamation to build capital projects designed to speed the recovery of four native fish species has been heard by the House Resources Subcommittee on Water and Power. Section 3 of the bill allows the Secretary of Energy to pay for these capital projects using a $17 million loan or loans from the CWCB. We are working to finalize the proposed Memorandum of Understanding among the CWCB, the Western Area Power Administration and the Bureau of Reclamation that lays out the underlying considerations we will take into account when negotiating future loan contracts with these federal agencies. In the meantime, we may propose the transfer of additional funds into the Colorado River Recovery Program Loan Account created by the General Assembly in 1998 (37-60-122.9 CRS). The account was created for the purpose of making loans to the Colorado and San Juan River Recovery Programs for the construction or improvement of certain water related projects in Colorado. The statute specifies that the loans will be made under agreements with power users . of the federal Colorado River Storage Project. There is currently $7 million in the account. Because the recovery programs benefit a wide variety of users, including mineral and energy producers on the East and West Slope, we may propose the transferring $2 million to $10 million from the Severance Tax Trust Fund Perpetual Base Account to the Colorado River Recovery Program Loan Account. More information will be provided to the board about the funds available for this purpose during the discussion of agenda item 12 b. No recommendation is needed at this time. . . Joint Resolution Supporting Long-term Funding Legislation The CWCB should support the passage of a joint resolution supporting the Upper Colorado River and San Juan River Endangered Fish Recovery Program Long-term Funding legislation that has been introduced by Sen. Allard and Rep. Hansen. The bill authorizes the U.S. Bureau of Reclamation to share the costs of building capital construction projects under the 1988 Cooperative Agreement to implement the Recovery Implementation Program for the Endangered Fish Species in the Upper Colorado River; and, the 1992 Cooperative Agreement to implement the San Juan River Recovery Implementation Program. The Upper Colorado River Program has already served as the "reasonable and prudenthalternative" to avoid ')eopardy" Endangered Species Act Section 7 decisions for more than 500