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<br />Director's Report <br />March 10, 1998 <br />Page 2 of 2 <br /> <br />. <br /> <br />Drinking Water Revolving Fund <br /> <br />Staff is working on a May bond issue for $16.6 million in loans to Fort Morgan ($15.2 million) <br />and Buena Vista ($1.4 million). With these loans the total loan pool would be $49 million. <br /> <br />. The joint resolution (HJR98-1007), adding and deleting projects, has been passed by the <br />Senate and House and signed by the Governor. The resolution adds 19 projects and <br />deletes 68 projects. The resulting eligibility list has 190 projects representing over $320 <br />million in funding needs. . <br /> <br />Senate Bill 98-179, sponsored by Senator Dennis, gives the Department of Public Health <br />and Environment (DOPHE) legal authority to require public water systems to have technical, <br />financial and managerial capacity. Without this authority the drinking water capitalization <br />grant for FY1999 would be reduced by 20 percent. SB98-179 also authorizes a new <br />drinking water grant program for the DOPHE, much like the wastewater grant program for <br />communities of 5,000 or less. It appropriates $3 million for the new grant program. <br /> <br />. <br /> <br />Animas-La Plata Project <br /> <br />On February 6, the Authority Board reaffirmed its continuing support for the Animas-La <br />Plata Project. The Authority also affirmed its" . . . willingness, subject to agreement by the <br />other signatories, to enter into appropriate amendments to the agreements to which it is a <br />party (including the 1986 Cost Sharing Agreement and the 1989 Escrow Agreement) to <br />reflect and to provide for (1) construction of the so-called Animas-La Plata "Lite" Project, <br />with Colorado's cost sharing obligation limited to $16 million to be disbursed from the <br />existing Animas-La Plata Escrow Account under acceptable terms; and (2) to provide for <br />the continuing escrow of the remaining principal of $26.4 million now on deposit in the <br />Animas-La Plata Escrow Account for a mutually acceptable period of time pending possible <br />future construction of the remaining facilities of the Animas-La Plata Project, with all interest <br />accruing upon said principal being paid to and retained by the Authority for its use." <br /> <br />Future Board Meeting <br /> <br />March 27 - Denver <br /> <br />. <br />