BOARD01636

• Board Meeting Date: 11/25/2002
• Description: CF Section - Proposed Statute Revisions Construction Fund and Severance Tax Trust Fund Perpetual Base Account
• Board Meetings - Doc Type: Memo

STATE OF COLORADO

Colorado Water Conservation Board

Department of Natural Resources
1313 Sherman Street, Room 721
Denver, Colorado 80203
Phone: [phone]
FAX: [phone]
www.cwcb.state.co.us

Bill Owens
Governor

MEMORANDUM

Greg E. Walcher
Executive Director

TO:

Colorado Water C/)jerv;tion Board Members

Mike Serlet, P.E.r~ Water Supply Planning and Finance Section
Dan McAuliffe, Deputy Director, Colorado Water Conservation Board

Rod Kuharich
eWeB Director

FROM:

Dan McAuliffe
Deputy Director

DATE:

November 15, 2002

SUBJECT:

Agenda Item 26 - November 25-26, 2002, Board Meeting
Water Supply Planning and Finance - Proposed Statute Revisions
Construction Fund and Severance Tax Trust Fund Perpetual Base Account

Introduction

The CWCB staff, together with the Attorney General's staff, has recently reviewed the
Colorado Revised Statutes as they relate to the Construction Fund and Severance Tax Trust Fund
Perpetual Base Account. We have identified two areas where the statutes should be amended to reflect
current processes and policies adopted by the Board and implemented by staff. The proposed
amendments, revisions, and deletions are meant to clarity statutory language that has sometimes been
confusing and interpreted incorrectly. Another proposed statute revision is one that would expand the
purpose and use of a special fund. The following pages show the formalized amendments with a
description or discussion included with each.

Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection
Water Supply Protection. Conservation and Drought Planning