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<br />(No response.) <br /> <br />MR. STAPLETON: Those minutes are approved. Now, the March 17 minutes. <br />Any corrections or additions to those minutes? <br /> <br />(No response.) <br /> <br />MR. STAPLETON: All right. May I entertain a motion that those minutes <br />be approved? <br /> <br />I <br /> <br />MR. BENTON: I so move. <br /> <br />MR. KUIPER: I'll second. <br /> <br />MR.- STAPLETON: It's been regularly moved and seconded. All those in <br />favor of approving the minutes of the March 17 meeting, please signify <br />by saying "Aye." <br /> <br />(Unanimous "Ayes.") , <br /> <br />MR. STAPLETON: Opposed? <br /> <br />(No re sponse. ) <br /> <br />MR. STAPLETON: The minutes are so approved. <br /> <br />Now, we have twelve proposed projects to ,be funded through the Colorado <br />Water, Conservati:oh Board fund for constr,uct:ibn. We have done a little <br />of this and we have had three, or four projects that we have considered <br />previously. <br /> <br />MR. SPARKS:. We have actually had about six'projects funded previously. <br />, -, <br /> <br />MR. STAPLETON: Will you give the Board again, and our guests, a little <br />background on the fund and what we will be 'cons'idering throughout a good <br />part of the remainder of the'day? <br /> <br />MR. SPARKS: In'197l, the General Assembly enacted a 'law whi:ch authorized <br />the Water Conservation Board to enter into contracts for the construction <br />of projects which would utilize the water and power resources of the <br />state. This was a first time piece of legislation in Colorado, since <br />prior to that time the state had never actively engaged in the construc- <br />tion of small projects. <br /> <br />However, at that time, practically every w~stern state, except Colo- I <br />rado, did have such a construction fund. The legislature authorized a , <br />maximum appropriation of ten million dollars to become part of a <br />revolving fund from which projects could be constructed. This simply <br />means that as one project is constructed and monies come in on the <br />rental of that project, that money can be reused for another project. <br />That was the purpose of the revolving fund. <br /> <br />Up to this time, exactly three million two hundred thousand dollars has <br />actually been appropriated to the fund, leaving the balance available of <br /> <br />-2- <br />