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<br />\ <br /> <br />e <br /> <br />. <br /> <br />e <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1313 Sherman Street <br />Denver, Colorado 80203 <br />Phone, (303) 866.3441 <br />FAX, 1303) 866.4474 <br /> <br />STATE OF COLORADO <br /> <br />. <br /> <br />Bill Owens <br />Governor <br /> <br />GregE. Walcher <br />Executive Director, ONR <br />Peter H. Evans <br />Dire<tor, CWeB <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />( <br />~J <br /> <br />Colorado Water Conservation Board Members <br /> <br />FROM: <br /> <br />Michael G. Serlet, P. E., Chief, Project Planning and Construction Section <br /> <br />DATE: <br /> <br />July 20, 1999 <br /> <br />SUBJECT: Agenda Item 3.b. - July 26-27,1999, Board Meeting - Director's Report <br />Severance Tax Trust Fund Operational Account <br />FY 2001 Proposed Projects <br /> <br />Introduction <br /> <br />The Severance Tax Trust Fund Operational Account is a valuable financial resource in addition <br />to the Construction Fund for water resource studies and investigations. However, use of these <br />moneys requires about 15 -18 months advance planning. The CWCB staff has developed several <br />proposals for consideration by the Board for use of such funds that would become available on July <br />1, 2000 for expenditure in the fiscal year (FY) 2001. <br /> <br />Background <br /> <br />After July 1995, one-half of the severance tax receipts credited to the Severance Tax Trust Fund <br />are credited to the Operational Account of the Severance Tax Trust Fund. The programs supported <br />by the Operational Account must promote and encourage sound natural resource planning, <br />management, and development related to minerals, energy, geology, and water. The General <br />Assembly may appropriate moneys from the total moneys available in the Operational Account to <br />fund recommended programs as follows: <br /> <br />1 <br />