BOARD02292

• Board Meeting Date: 3/29/1999
• Description: Directors' Reports
• Board Meetings - Doc Type: Memo

--.

~~:~~~~0>
~- 1)'-- - ~
1981

~-~2.~
ZitYfiOPMEN' t-.~

COLORADO WATER RESOURCES &

POWER DEVELOPMENT AUTHORITY

Logan Tower Bldg. - Suite 620, 1580 Logan Street, Denver, Colorado 80203
303/830-1550 . Fax [phone] . Info@cwrpda,com

MEMORANDUM

March 30, 1999

TO:

Members, Colorado Water Conservation Board, and Peter Evans

FROM:

Daniel L. Law, Executive Director

RE:

Director's Report

Small Water Resources Proiects

An application from the Town of Cedaredge for $1 million of improvements to its water system was reviewed
and approved by the Board at its February meeting. Subsequently, the bond insurer, FGIC, determined that
Cedaredge did not meet all of their financial criteria for insurance. Other potential borrowers are being
contacted. No schedule has been set for the next bond issue.

.

Water Pollution Control Revolvino Fund

House Joint Resolution 99-1004 was introduced and passed by the General Assembly in late February. It was
signed by the Governor earlier this month. This resolution adds 53 projects to the eligibility list and deletes
33 projects. The resulting demand for the 158 projects on the list will be approximately $425 million, but
approximately $190 million of that amount has either been funded or determined to be not needed.

With the FY1999 grant of $10 million and re-Ioan funds, the 1999 loan capacity of the WPCRF is over $95
million.

A bond issue, to fund approximately $43 million in loans, is currently scheduled to be sold on or around June
2. The issue will include Aurora ($24 million for reuse plant), Fremont Sanitation District ($8 million for sludge
and maintenance facilities), Grand County Water and Sanitation District NO.1 ($4 million for treatment plant),
and Steamboat Springs ($7.5 million for treatment plant). A direct loan for Fraser Sanitation District ($1 million
for treatment plant) is expected later this year.

Drinkino Water Revolvina Fund

House Joint Resolution 99-1005 was introduced and passed by the General Assembly in late February. The
Governor signed it earlier this month. The resolution adds 49 projects to the eligibility list and deletes 22. The
1999 list will contain 217 projects representing over $500 million of need.

To date the EPA has awarded $26.36 million in capitalization grants for the Drinking Water revolving loan fund
and set-aside activities. Colorado's allocation from the 1999 appropriation is $10.8 million. With these funds
. and the transfer of Clean Water grant funds, the 1999 loan capacity of the DWRF is approximately $65 million.