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BOARD01372
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8/16/2009 3:01:08 PM
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Board Meetings
Board Meeting Date
11/17/1976
Description
Agenda, Minutes, Resolution
Board Meetings - Doc Type
Meeting
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<br />along with coal and gas. At least ten million dollars, in our <br />estimation, will be available annually and any part of that can be used <br />for these water projects that we are considering or future projects <br />that we might consider.' - <br /> <br />I have prepared a memorandum 't;o the Governor on this point, urging that <br />he recommend the appropriation of six million eight hundred thousand I <br />dollars, which is the balance still available to the construction fund. <br />This appropriation would nothhave to be made from the general fund, as, <br />was originally thought. ' It can be made available from federal funds <br />already in the hands of the state treasurer. I think that's the pitch <br />that all of us have to take in arguing with the legislature and the <br />Governor.that funds can be made available for these very vital purposes <br />without any invasion of the general fund. I ,think this is important to <br />know as we discuss these projects that we consider'that there is a good <br />probability. that funds could be made availabl~ for all or at least a <br />substantial portion of the projects which we will discuss here today. <br />That's it, Mr. Chairman., .. . <br /> <br />, , <br />MR. STAPLETON: 'Mr. Sparks, then I take it from your last remarks that <br />the priorities that we.propose l1ere'are not necessarily meaningful <br />because there are funds for all twelve of the projects; i~ that correct? <br /> <br />MR. SPARKS: All twelve of:thes~ projects'will fit within the remaining <br />balance. that is available to the: construction fund. And as the 'Board <br />knows, we 'only recommend. these priorities. The legislature makes the <br />final determination. <br /> <br />. <br />MR. STAPLETON: But at any rate, we will not have to worry about <br />priorities then? ' <br /> <br />MR. SPARKS: I don't think it's'critical. <br /> <br />MR. KROEGER: ' Mr. Chairman, I want to,ask a question in regard to that. <br />I notice that you still have this listed as part of our state funding <br />and repayment of the like. It would appear to me as you 'have outlined <br />the availability of funds that these funds would be here for a grant <br />rather than to be repaid. ' And I question: Do they have to come <br />,through our ten million dollar allotment by the state? Wouldn "t it be' <br />totally outside of that? <br /> <br />MR. SPARKS: Not necessarily. The legislature may determine the <br />disposition of these funds under the federal law. If they are appro- <br />priated to our construction fund, then we must get the money back in <br />the ,way of charges for the use of our project. I want to emphasize I <br />that the state does not loan money. These projects or portions of them <br />would be constructed by the state and owned by the state. That is, we <br />would own a sufficient portion of the project, have the actual owner- <br />ship of it, sufficient to protect the state's.investment. We then lease <br />that portion of ,the project back to the,project sponsors for a period <br />of years and assess annual charges against the project's sponsors for <br />the lease of the state's ownership in the proj ect. <br /> <br />At the time , that the state is completely reimbursed in accordance with <br /> <br />-6- <br />
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