BOARD01848

• Board Meeting Date: 3/10/1998
• Description: Directors' Reports
• Board Meetings - Doc Type: Memo

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COLORADO WATER RESOURCES &
POWER DEVELOPMENT AUTHORllY

Logan Tower Bldg. - Suite 620,1580 Logan Street, Denver, Colorado 80203-1942
303/830-1550 FAX [phone]
MEMORANDUM

March 10, 1998

TO:

Members, Colorado Water Conservation Board, and Chuck Lile

FROM:

Daniel L. Law, Executive Director

RE:

Director's Report

Small Water Resources Proiects

Senate Bill 98-078, sponsored by Senator Ament and Representative Entz, increases the
$10 million project limitation to $25 million, eliminates the current funding exceptions for
water rights, planning and environmental mitigation and documentation, and revises the
CWCB review of projects involving raw water diversion or storage to a notification process.
The bill also clarifies the definition of a hydroelectric project, incorporates enterprises in the
definition of governmental agencies and changes the Authority's annual reporting date.
The bill was passed in the Senate in late February and by the House just yesterday.

A loan to Morgan County Quality WD ($2.2 million) is expected to close after a debt
authorization election in May. Mount Werner WSD ($500,000) was approved late last year,
but has decided to fund its project with existing cash. A bond issue for Morgan County
and other potential borrowers has not been scheduled.

Water Pollution Control Revolving Fund

Staff is working on a March 25 bond issue for $54.9 million in loans to Trinidad ($6.7
million), Buena Vista Sanitation District ($3.9 million), Eagle River Water and Sanitation
District ($17 million) Colorado Springs ($22 million), Westminster ($4.1 million) and Evans
($1.2 million). With these loans, the total loan pool would be $260,000,000.

The joint resolution (SJR98-004), adding and deleting projects, has been passed by the
Senate and House and is awaiting the Governor's signature. This resolution adds 29
projects and deletes 12 proJects, The resulting eligibility list will have 139 projects
representing over $375 million of funding need.