BOARD01462

• Board Meeting Date: 7/18/2005
• Description: Water Resources and Power Authority Director's Report
• 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 80203,1942
303/830-1550 . Fax [phone] . [e-mail]

MEMORANDUM

July 14,2005

TO:

Members, Colorado Water Conservation Board, and Rod KuhariCh

FROM:

Dauiel L. Law, Executive Director

RE:

Director's Report

Water Pollution Control Revolvinl! Fund

Two series of Wastewater Revolving Fund Refunding Revenue Bonds totaling $81.7 million were sold
the first week of May to refund the 1998 Series A, 1998 Series B, 1999 Series A and the 200 I Series A
Clean Water Revenue Bonds. Present value savings for the 18 borrowers involved was $3,8 million. In
January, the Authority refunded $37 million of Clean Water bonds for II borrowers that yielded a net
savings of $2.1 million, .

In early May $40 million of Clean Water Revenue Bonds, 2005 Series A, were sold to fund loans for the
Town of Breckenridge ($4.3 million), Denver SE Suburban WSD ($4.8 million), Town of Eaton ($4.8
million), Plum Creek Wastewater Authority ($1.5 million), Roxborough Park Metropolitan District ($9.6
million) and the City of Westminster ($15.4 million), The loan rates varied from 3.32% to 3.38%.

At the August 26 meeting, the Board will be reviewing loan requests from Breckenridge Sanitation
District ($8 million), Glendale ($10 million), Arapahoe County Water and Wastewater Authority ($23
million), Cherokee Metro District ($12 million). Triview Metro District ($4.7 million) and Donala Water
and Sanitation District ($5 million), A loan application was also received from Erie ($20 million); since
funds are not needed until 2006, the loan will be considered at a later date.

The 2005 loan capacity for the program is approximately $80 million. Since $40 million of this capacity
was committed to the 2005 Series A bond issue, the above projects will be prioritized by the Water
Quality Control Division and the remaining loan funds will be allocated accordingly.

Drinkiul! Water Revolvinl! Fund

In early April the Drinking Water Revolving Fund Refunding Revenue Bonds, 2005 Series A, totaling
$20,305,000 were issued to refund the 2000 Series A Drinking Water Bonds. Present value savings for
the 5 borrowers involved was $1.02 millJ.9n.

The Drinking Water, 2005 Series A, bond issue may cover loans for Cottonwood WSD ($10 million) and
the City of Craig ($4.5 million). -The bond issue is scheduled for this fall.