BOARD01121

• Board Meeting Date: 3/26/2001
• Description: CF Section - Colorado Water Protective and Development Association - Deauthorization of Feasibility Study Loan
• Board Meetings - Doc Type: Memo

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STATE OF COLOMDO

Q

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Colorado Water Conservation Board
Department of Natural Resources
1313 Sherman Street. Room 721
Denver. Colorado 80203
Phone; (3031 866.3441
FAX: [phone]
www.cwcb.state.co.us

MEMORANDUM

TO:

Colorado Water Conservation Board Members ~

Bill Green, P.E., Water Supply Planning and Finance Section ~ III (
Mike Serlet, P.E., Chief, Water Supply Planning and Finance Section"r)

March 16, 200 I

BiIIOwern;
Governor

Greg c. Walcher
EXe<'.tllive Dire<:tor

. Rod KuharJd'I
CWCB Director

ban McAuliffe
Deputy Director

FROM:

DATE:

RE:

Consent Agenda Item No.1 - March 26-27, 2001 Board Meeting-
Water Supply Planning and Finance- Colorado Water Protective and
Development Association -Deauthorization of Feasibility Study Loan

IntroductiOIl

As a matter of housekeeping, staff is requesting deauthorizion of an approved fe!lSibility study
loan for $75,000 to the Colorado Water Protective and Development Association (CWPDA) of
La Junta.

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Discussion

In November 1993, the Board approved a loan to CWPDA of up to $75,000 for a feasibility study
involving a substitute water supply plan for replacing CWPDA members' well pumping
depletions. The loan did not involve legislative authorization. Staff reviewed and accepted a plan
of study and detennined that CWPDA demonstrated adequate creditworthiness for the loan.

CWPDA was, however, concerned about possible subordination of an existing lien by a
commercial bank on CWPDA's revenues. Attached is a letter from CWPDA' s attorney to Linda
Bassi of the Attorney General's office indicating CWPDA's intent not to pursue the loan.
CWPDA completed the study using its own funds.

Recommendation

Staff requests that the Board deauthorize the feasibility study loan for $75,000, as approved in
November 1993, to the Colorado Water Protective and Development Association (CWPDA).

Attachment

Cc: Dale Baker, CWPDA
Linda Bassi, AGO

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Flood Protection. Water Project PlanninS and Financing. Stream and Lake Protection
Water Supply Protection. Conservation Planning