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<br />. . Section 37-60-121(1) CRS "The first priority of the moneys available to the (construction) <br />fund shall be devoted to projects which will increase the beneficial consumptive use of <br />Colorado's undeveloped compact entitled waters. " <br /> <br />Participation in the costs of the drilling and core recovery operation ($170,000) and the <br />geo-hydrologic analysis ($42,000) appear to be eligible expenses in the same manner in which <br />the Metropolitan Water Supply Investigation and SB 96-74 were authorized. At this time, the <br />verbal commitments received from interested water users have not been developed into actual <br />contributions. <br /> <br />Based on the cost estimates presented in the application, an appropriate level of <br />participation by the CWCB Construction Fund might be to match actual project contributions by <br />water users 2 for 1 up to a maximum of $90,000. This would provide a total contribution of <br />$135,000 or approximately 64% of the costs of drilling, coring, and conducting the geo- <br />hydrologic analysis. This formula provides an incentive for participation by other agencies <br />(e.g., the Division of Water Resources and perhaps the Colorado Geological Survey) benefiting <br />from this study. This level of support would seem reasonable compared to the level of funding <br />utilized in SB-74 ($100,000) and the study of the Economic Life of the Denver Basin Aquifers <br />($40,000). <br /> <br />. <br /> <br />RECOMMENDATION <br /> <br />We recommend that the Board request the General Assembly authorize up to $90,000 <br />from the Construction Fund to be appropriated for participation in a geo-hydrologic analysis of <br />an Elbert County research core by the Denver Museum of Natural History, the U.S. Geological <br />Survey, and other water users. The $90,000 will be used to match two dollars for every one- <br />dollar contributed to the project by any Colorado water user group or agency. Further, allocation <br />of all funds shall be contingent on the DMNH receipt of the NSF funds. <br /> <br />. <br />