Laserfiche WebLink
<br />. <br /> <br />Criteria to Consider for Use of Funds Under Senate Bill 179 <br />Initial Discussion Draft May 17, 2006 <br /> <br />The Board is directed under S.B. 179 to perform several functions. Two important <br />functions are identified in the legislation as follows: <br /> <br />1. The Board shall allocate money by grant or loan from the account only for water <br />activities approved by the roundtable pursuant to Article 75 of Title 37, C.R.S. <br />The approving roundtable shall be the roundtable for the basin in which the <br />proposed water diversion or nonstructural activity would occur. <br />2. The Board, in consultation with the Interbasin Compact Committee created in <br />section 37-75-105, C.R.S., shall jointly establish criteria and guidelines for <br />allocating moneys from the account. <br /> <br />In regard to item 2 the Board has several relevant policies which can help guide the <br />establishment of criteria and guidelines. Overall the process should ensure that state <br />financial resources are used in an effective, equitable, and justifiable manner. <br /> <br />It is recommended that all funds be available only through a specific application process <br />and that the work be described in a detailed scope of work. Funds would be distributed <br />base on the fulfillment ofthe specific scope of work. <br /> <br />. Relevant Board policies include the following: <br /> <br />Policy 14 - Approval and Prioritization of Construction Fund Applications for Non- <br />Reimbursable Investments. <br /> <br />Policy 12 - Prioritization of Project Fund Applications from the Construction Fund and <br />the Severance Tax Trust Fund Perpetual Base Account. <br /> <br />Policy 11 - Allowable Loan Amounts as a Percentage of Total Project may also provide <br />insights regarding prioritization of projects based on financial considerations including <br />the financial strength of the applicant. <br /> <br />Policy I - Construction Fund and Severance Tax Trust Fund Perpetual Base Account <br />Project Time Limits could be useful in helping ensure timely implementation. <br /> <br />Policy 5 - Collateral for Construction Fund and Severance Tax Perpetual Base Account <br />Project Loans provides insights on several factors especially the identification of the <br />"entity". Funds from SB 179 would need to go to and "entity". <br /> <br />CWCB's Loan Application Form would be useful for identifying procedural logistics. <br /> <br />. <br /> <br />May 17,2006 RB <br /> <br />I <br />