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<br />Mr. Fetcher asked Mr. McDonald to discuss Agenda Item 8b, <br /> <br /> <br />Chatfield Channel Improvement Project. In his discussion, <br /> <br /> <br />Mr. McDonald summarized the information contained in his <br /> <br /> <br />March 1, 1983, memorandum to the Board. (See Appendix F.) He <br /> <br /> <br />pointed out that ewCB construction funds of $2.5 million <br /> <br /> <br />authorized by S.B. 537 in 1977 were no longer sufficient because <br /> <br /> <br />of increases in the valuation of lands required for the project. <br /> <br /> <br />Current estimates show that about $7.5 million may be required to <br /> <br /> <br />meet the state's obligations (including cost already incurred <br /> <br /> <br />amounting to $267,000). In his closing remarks Mr. McDonald <br /> <br /> <br />suggested that the Board recommend to the General Assembly to <br /> <br /> <br />increase the authorization for the project to $7.5 million. <br /> <br /> <br />Mr. Robbins moved, seconded by Mr. Jackson, that the Board adopt <br /> <br /> <br />the recommendation as stated above. The motion was adopted by <br /> <br /> <br />unanimous voice vote. <br /> <br />Mr. Fetcher moved to Agenda Item 9--Transmittals to General <br /> <br /> <br />Assembly and asked Mr. McDonald to brief the Board on the <br /> <br /> <br />requirements for and the contents of the Annual Report to the <br /> <br /> <br />General Assembly. <br /> <br />In his summary, Mr. McDonald stated that this Agenda Item <br /> <br /> <br />consisted of two parts, namely Item 9a, Annual Report and Item <br /> <br /> <br />9b, project Recommendations Pursuant to Section 37-95-107, CRS, <br /> <br /> <br />1973 as amended. <br /> <br />-7- <br />