BOARD01027

• Board Meeting Date: 7/23/2002
• Description: CF Section - Finance Matters - Water Resources and Power Development Authority Request to Terminate the CWCB MOU
• Board Meetings - Doc Type: Memo

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COLORADO WATER RESOURCES &
POWER DEVELOPMENT AUTHORITY

Logan Tower Bldg. - Suite 620, 1580 Logan Street, Denver. Colorado 80203
303/830-1550 . Fax [phone] . Into@cwrpcta,com

MEMORANDUM

July 22, 2002

TO:

Members, Colorado Water Conservation Board, and Rod Kuharich

FROM:

Daniel L. Law, Executive Director

RE:

Director's Report

Water Pollution Control Revolvinl! Fund

In May, $55,310,000 of Clean Water Revenue Bonds were sold competitively to finance projects
for Berthoud ($6.3 million), South Adams County WSD ($6,3 million), Mesa County/Grand
Junction ($13.5 million), Winter Park West WSD ($2.4 million), Wellington ($4,8 million) and
Blackhawk-Central City SD ($24.1 million), Ten competitive bids were submitted over the
internet. The loan rates ranged from 3,62% to 3,85%, We expect another bond issue this fall on
the order of $30 million,

~' Funds appear sufficient to cover anticipated loans for 2002, but 2003 loan demand is likely to
exceed loan capacity, The 2003 WPCRF Intended Use Plan that will be presented to the Water
Quality Control Commission for action in October will address the possibility of transferring $8
million from the Drinking Water Revolving Fund to this fund,

Drinkinl! Water Revolvinl! Fund

In April $16,320,000 of Drinking Water Revenue Bonds were sold competitively to finance
projects for La Junta ($9,8 million), Grand Junction ($3,6 million), Idaho Springs ($2.3 million)
and Evergreen Metropolitan District ($2 million), The loan rates ranged from 3,99% to 4.02%,
This bond sale was the Authority's first competitively sold deal. The six competitive bids were
submitted over the internet.

Loan demand in 2003 is estimated at $30 million, and our loan capacity is estimated at over $60
million, The transfer of $8 million will lower the loan capacity to $42 million, but sufficient
funds will be available to meet loan demand, The transfer will be discussed in the 2003 DWRF
Intended Use Plan that will be presented to the Board of Health for action in November.

Small Water Resources Proiects

.

In June $14,615,000 of Small Water Resources Revenue Bonds were sold to finance projects for
Parker WSD ($ I 0 million) and Eagle River WSD ($4,5 million), The all-in loan rate was 5, I 6%.
Another bond issue, involving Rifle and Fountain, may be put together for sale in the late falL