BOARD01323 - Laserfiche WebLink

Home Browse Search

try to build up a 50 million dollar fund initially by an:apnual 3 million dollar general fund appropriation over a period of 10 years. This, together wi~~ the mine~al leasing reven~es, would give U$ a 50 million dollar capital inyestment at the and of 10,years. That: may not be adequate for the long-term future. But as far as we can see, that would give us a very viable fund. I ~ - - ~ With the limitatiori on spendipg from the general fund and the continuing increased demand for services from th~ state government, it's an almost impossible_battle every year to get a large sum of money from the general fund. If we are going to be successful, we have to look at other methods than the general fund. There are other possibilities of getting funds appropriated on a continuing basis. I point out, without making a,specific recommendation, that the mineral severance tax is one method of getting a specific appropriation each year whic~ does not ~ome from the general funlf. " ' It is the mineral development and the production of hydroelectric power which is ~ausing us great addit~onal:pr9blems in connection with our water supply. The thermo plants are now seriously competing with the cities and the farmer for available water supplies. The d~velop- ment of energy resources is causing a~ increased:popul~tion. This idea of getting a portion of the mineral severance tax is not original with me. It-start~d with the-state of Wyoming abou~ a year~ago. That state imposed"a mineraLs!,!verance, tax _and :estab1ished a 100 million dollar water project con~truction fund. Wyoming is ~ very small $tate. When I say it is a small state, I mean it is small population-~ise. It has about 25 percent of our population, but it has vast mineral resources --:one of the greatest in the United States, as a matter of fact. So it gets considerable rev~nues ~rom its mineral severance ~ax. It dedicated a portion of that tax to establishing a 100 million dollar fund, with a: provision that tha~ fund should never drop below 50 million dollars. If Wyoming can set up a hundred million dollar fund, Co~orado should be able to set up a 50 million dollar fund. Our needs are far greater and our p9pulation is fourfold. I ~ -. - What I am suggesting, Mr. Chairman, is t~at a committee be appointed of several members of this bpard to work with a legislative committee to develop a method of financing the many needed projects throughout the state through state funding. In that connection, the legislative committee and the bpard would work: with, various organiz?tions of the s~ate, like the Municipal League, th~ Counties 'Association and the Color~do Wa~er Congr~ss. The time is simply gone when a fe~of us, like, myself or others who have worked this scene, can carry things through the legislature. The interests ar~ so d;iverse anymore that it really takes a united approach to get anything done, either here or in -21-