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<br />~~~~ . <br />~~~~ct" COLORADO WATER RESOURCES & L <br />"\,~ POWER DEVELOPMENT AUTHORITY <br />~(PMEl{\ ~~ Logan Tower B1dg, - Su~e 620, 1560 Logan Street, Denver, Colorado 80203 <br />303/830.1550 . Fax 303/832-8205 . Infll@cwrpda.com <br /> <br />September 17, 1SSS <br /> <br />Mr. William E, Green, P.E, <br />Colorado Water Conservallon Board <br />Department 01 Natural ResourceS <br />1313 Sherman Street <br />Denver, Colorado 80203 <br /> <br />Re: Colorado Water Conservation Board ('CWCS') Lending Polley <br />Dear Bill: <br /> <br />We are in receipt of your letter dated August 25, 1999, requesting the Colorado Water <br />Resources and Power Development Authority (the 'Authorlly") to comment on your draft <br />policies and procedures for the administration 01 the CWCB Construction Fund and the <br />Severance Tax Trust Fund. <br /> <br />We have reviewed the draft and would offer one suggestion that the Auttiorlty's Board of <br />Directors has implemented on occasion. In instances where a loan applicant wlil need to <br />raise Its user rates and charges signlflcantly, the Board has required them to adopt an <br />ordlnancelresolulion raising the user rates and charges sufficiently to meet debt service on <br />the loan prior to loan execution, This can be achieved In phases, however, all Mure <br />Increases should be incorporated In the original ordinancelresolutlon,OI course, <br />determining when a user rate increase Is .slgnlflcanr can be somewhat subJective, <br /> <br />It was our pleasure reviewing the polley and we hope that you find our suggestion useful. <br />If you have any questions 01' ff we can be of further assistance, please call me al (303) 830. <br />1550, Ext. 15, <br /> <br />. <br /> <br />Sincerely, <br /> <br />~~ <br /> <br />Michael Brod <br />Finance Director <br /> <br />cc: Mike Serlel, CWeB <br /> <br />e.'\8uP'fJrQjec:t'CWCBlXllIcV.IIU41d <br /> <br />. <br />