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<br />period shall be made avail3b1e in amounts equat to the contributions for the same 2-,
<br />thcal-ye<lr period made by the Upper Division States pursuant to paragraph (I),
<br />
<br />And, Sex:tion 3(C)(3) of the law allows the Secretary of Energy to help pay for eapital
<br />projects using a loan or loans fronl the C\VCB:
<br />
<br />(3) The <ldditional funding provided pursuant to paragraph (2) may be provided ,hrough
<br />loans from the Colorado Water Conservation Board Construction Fund (37 ,60- i 2 i
<br />c.R,S,) to the Western AreH Power Administration inlicu offunds which would
<br />other'Nisc be colIected f!'om po\ver revenues and used fi1f storage project repayments. The
<br />\Vestern Area Po\ver I\drrdnistration is aut.horized to repay such loan or loans ffora power
<br />revenues collected beginning in fi$caJ year lOlL, subject to an agrecnlcnt between the
<br />Colorado \\/ater Conservation Board, thc Westcrn Area Power Administration, and the
<br />Bureau of Rr;;clarnation. The ag:recm(':nt and any future loan contracts that may be entered
<br />into by the Colorado Wale" Conseniation Board, the \Vestem ">,rea Power
<br />Administration, and the Bureau of Reclammion shal1 be negotiated in consultation with
<br />Salt Lake Cily Arca fntegrated Projects Finn Power Conlractors, The agreement and Joan
<br />CO!"Hracts shall include provisions designed to nlinirnizc impacts on electrical po\vcr rates.
<br />and shaIl ensure that loan rcpayrnen! 10 the Colorado \Vater Conscr\<tlion Bl)ard~
<br />including principal and imerest, is completed no laler than September 30, 2057, The
<br />\Vcstern Area Po\ver l~dn1inistra1.ion is authorized to include in po\ver rates sllch sums as
<br />are necessary to carry out this parasrraph and paragraph (2),
<br />
<br />A copy of lhe kderal law is attached,
<br />
<br />In 1998, in anticipation of the passage of the fedeml law, the General Asscmbly created lhe
<br />Colorado River Recovcry Progxmn Loan Fund (J7-60-122,9 C,R,S_),
<br />
<br />Colorado river recovery program loan tlmd - crea.tion, (I) Tllere is hereby created in the
<br />state trc~asllry as part ofthc Colorado water conservation board construction fimd the
<br />Colorado river recovery prograJrt loan account for the purpose of making loans to the
<br />Colorado river and San Juan river recovery prognnns for the consf.nlction or
<br />irnprover11ent of cert.8in \vater related projects in COlorado, under agreernents w~th povver
<br />users of the feckrai Colorado river storage rroject~ required to recover the four
<br />endangc!'ed fish species of the upper Colo1"ado riverj including the San Juan river.
<br />
<br />(2) The Colorado water conservation bo,m.l shall recommend loans [yom the Colorado
<br />river recovery prognnn loan account to the general nssernbly pursuant to scction 37-60-.
<br />122 II) (b), The loans ShHIl be subject to an interest rat." and repayment provisions to be
<br />delcrmined by the Colorado waler conservation board,
<br />
<br />Since the passHge of the stale law, $12 million has been allocated to this account.
<br />
<br />LOHn /\PFlkation
<br />
<br />On J,muary J, 2001 the Western Area Power /,dministration ,WESTERN) submilted its first
<br />loan appli~ation for $5,5 milliorL The Board subsequently approved t.he applie;uion, the Gene"al
<br />1 I _ _ '" ----' C I _ __ I __ ____~__~~< ___~__ ~:_,,__,..-.l '~h.___, __.'<1_",_ ___":.__'C"_l ~.__.6_..~,. :~
<br />)\.:1.SeiTltJlY apprl.."".Jf'ndteu lunUS ailU iJ.I,.;U:illG\,,:l Wd~ ~lbU\;U. J-" \,,1...11-')' Ul lJl~ Ull:::HSHI>.;U I,.,Ullclctl,.;l D
<br />;"ttached,
<br />
<br />Cclcrauo \V::~cr Ccn~(:rvi1!ir);. Bo.ml
<br />F-:"~,,:,,j Frot,:,ction" \V cil,,'! Prr:':f.:Ci Pl<:nn::;.f!, MId fillio<iidng q, S!fI:Mn ,:mJ L."Klo' r'm!(:("f\(ll1
<br />\\'atc, S~,p.ply PriJtt'uiv\1 l! Cor:~;:rVaf:Oll Plar.r:ir:g
<br />
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