BOARD01835

• Board Meeting Date: 11/19/2003
• Description: CF Section - Proposed Statute Revisions - Construction Fund and Severance Tax Trust Fund Perpetual Base Account
• Board Meetings - Doc Type: Memo

STATE OF COLORADO

Colorado Water Conservation Board

Department of Natural Resources
1313 Shennan Street, Room 721
Denver, Colorado 80203
Phone: [phone]
FAX, [phone]
www.cwcb.state.co.us

Bill Owens
Governor

MEMORANDUM

Greg E. Walcher
Executive Director

Rod Kuharich
CWCB Director

TO:

Colorado Water Conservation Board Members

Dan McAuliffe
Deputy Director

FROM:

Mike Serlet, P.E., Chief
Water Supply Planning and Finance Section

DATE:

November 12, 2003

SUBJECT:

Agenda Item #14a - November 19-21, 2003, Board Meeting
Water Supply Planning and Finance - Proposed Statute Revisions
Construction Fund and Severance Tax Trust Fund Perpetual Base Account

Introduction

The CWCB staff, together with the Attomey General's staff, has recently reviewed the
Colorado Revised Statutes as they relate to the Construction FWld and Severance Tax Trust Fund
Perpetual Base ACCOWlt. We have identified several statutes that should be amended to reflect current
procedures and policies adopted by the Board. Some of the proposed amendments or revisions are
simply grammatical clarifications, while others are substantive.

The following pages show the formalized amendments with a description or discussion included
with each.

Recommendation

Staff recommends the Board request the General Assembly to amend the Colorado Revised
Statutes relative to the Construction Fund and Severance Tax Trust Fund Perpetual Base Account as
shown in the attached statute revisions.

Specifically authorizes loans from the Construction Fund and Severance Tax Trust

Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection
Water Supply Protection. Conservation and Drought Planning