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<br />3~, <br /> <br /> <br />COLORADO WATER RESOURCES & <br />POWER DEVELOPMENT AUTHORITY <br /> <br />Logan Tower Bldg. - Suite 620, 1580 Logan Street, Denver, Colorado 80203 <br />303/830-1550 FAX 303/832-8205 <br /> <br />MEMORANDUM <br /> <br />May 19, 1995 <br /> <br />TO: <br /> <br />Members, Colorado Water Conservation Board, and Chuck Lile <br /> <br />FROM: <br /> <br />Daniel L. Law, Executive Director <br /> <br />RE: <br /> <br />Director's Report <br /> <br />Domestic Water Supplv Proiect Revolvina Fund (1994) <br /> <br />Work on a contract with the State Treasurer is continuing. Final comments were forwarded <br />last month. This contract will cover the operation of the Fund including the reimbursement <br />of Authority expenditures. <br /> <br />During the recent legislative session, we added 44 projects to the Domestic Water Supply <br />Project eligibility list through the passage of SJR95-6. These new projects represent <br />approximately $30 million of estimated need. With the addition of these projects, the list now <br />has 95 projects with an estimated need of over $62 million. <br /> <br />The Authority has reviewed and approved seven loan applications totaling $2.181 million. <br />Since the contract with the State Treasurer has not been completed, no loans have been <br />executed. <br /> <br />As you may recall, the legislature appropriated $6.2 million for the Domestic Water Supply <br />Project Fund in 1994. <br /> <br />Drinking Water Revolving Fund (1995) <br /> <br />This Drinking Water Fund was created under SB95-83 in anticipation of the reauthorization <br />of the Safe Drinking Water Act. It is currently awaiting the Governo(s signature. Created in <br />similar fashion as the Water Pollution Control Revolving Fund, initial capitalization will come <br />from the transfer of cash and loans from the Domestic Water Supply Project Fund mentioned <br />above. Transfers of $1,600,140 will occur on July 1, 1995, January 1, 1996, and each <br />January 1 thereafter until the Domestic Fund is depleted. Once depleted, the Domestic <br />Water Supply Project Revolving Fund statute will be repealed. Additional funds will come <br />from excess earnings from the Animas-LaPlata escrow as well as any funds appropriated for <br />state revolving funds through the Federal Safe Drinking Water Act. <br />