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<br />\ <br /> <br />. <br /> <br />e <br /> <br />e <br /> <br />e <br /> <br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone:~03)86~1 <br />FAX: (303) 866-4474 <br />www.cwcb.state.co.us <br /> <br /> <br />MEMORANDUM <br /> <br />Bill Owens <br />Governor <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />TO: <br /> <br />FROM: <br /> <br />Colorado Water Conservation Board Members <br /> <br />Mike Serlet, P.E., Chief ~ <br />Water Supply Planning and Fmance Section <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />DATE: November 15,2002 <br /> <br />SUBJECT: Agenda Item 18a - November 25-26, 2002, Board Meeting <br />Water Supply Planning and Finance Section - Policy Review <br />Policy #16 - Service Charges for Loans from the Construction Fund and <br />Severance Tax Trust Fund Perpetual Base Account <br /> <br />Introduction <br /> <br />This item is the review of a proposed new financial policy to implement changes made to <br />Section 37-60-119(2) C.R.S. by HB 02-1152, last year's Construction Fund Projects Bill. The <br />Statute now allows the Colorado Water Conservation Board (CWCB) to charge borrowers from the <br />Construction Fund and Severance Tax Trust Fund Perpetual Base Account fees, as the Board feels <br />are necessary, to recover the Boards' operational and maintenance charges in administering the <br />program loans. <br /> <br />The Board reviewed the policy at their September Board meeting (see attached September <br />12,2002 Board memo item #16b) and suggested revisions to be evaluated by staff and discussed at <br />the November Board meeting. <br /> <br />Background <br /> <br />At the September 12, 2002 Board meeting the Board agreed with the policy in general but <br />requested staff to investigate whether or not truth-in-lending or banking laws would impact the <br />Board's capability of charging loan origination fees. The Board also asked staff to consider adding <br />the fee to the loan rather than subtracting the fee from the authorized loan amount. <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />