BOARD02376

• Board Meeting Date: 5/11/1998
• Description: 1998 Legislative Issues - HB 98-1189 - 1998 Construction Fund and Severance Tax Bill - Status Report
• Board Meetings - Doc Type: Memo

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OFFICE OF THE EXECUTIVE DIRECTOR

STATE OF COLOMDO
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Department of Natural Resources
1313 Sherman Street, Room 718
Denver, Colorado 80203
Phone: [phone]
TOo: 13031866-3543
FAX: [phone]

MEMORANDUM

DEPARTMENT o~
NATURAl
RESOURCE

TO:

Senator Tilman Bishop

Roy Romer
Governor

FROM:

Ron Cattany

James S. Lochhead
Executive Director
Ronald W. Canany
Deputy Director

DATE:

May 1,1998

RE:

HB 1 006 - Update .

In anticipation of your amendment to HB1006 authorizing the Colorado Water and Power
Development Authority to assist in the funding ofHB1006, I have provided an update of the
funding mix and the proposed capitol projects to be funded over the next three years.

The final financial 'breakdown for HB 1006 is essentially a redirection of $4.9 million of existing
funds and $5.1 millIon of new money. Allocation of funds from the CWCB Mitigation and
Litigation Funds are one-time only. The authorization for the Authority to provide $2.4 million
to the truSt fund expires on July 1, 1999.

Colorado Water and Power Development Authority Unobligated Cash Funds
Colorado Water Conservation Board Construction Fund
CWCB Mitigation Fund*
CWCB Litigation Fund*
New State funds
Total

$2.4 million
$0.5 million
$1.0 million
$1.0 million
$5.1 million
$10 million

*one time only

BUDGET DETAIL

Colorado Water and Power Development Authority. The funds for HB 1 006 from the
Colorado Water and Power Authority will come from their unobligated and available cash funds.
Since the General Assembly cannot appropriate funds directly from the Authority, HB1006 will
be amended to authorize the Authority to consider contributing $2.4 million to the trust fund.
The Authority will adopt its own resolution today to approve the contribution of these funds to
the trust fund in two equal installments of $1.2 million on July I, 1998 and June 30, 1999_

Colorado Water Conservation Board. The CWCB Construction Fund currently has $190
million, all but $3-4 million of which is obligated. The Mitigation Fund currently has $1.3
million, and the Litigation Account has $4 million. Allocating a total of$2.5 million from
CWCB will still leave funds for construction projects for next year, $3 million in the Litigation
Fund to cover litigation that may result with the lifting of the moratorium on pennits by the US

Board of Land Commissioners. Division of Minerals & Geology/Geological Survey
Oil & Gas Conservation Commission. Colorado State Parks. Soil Conservation Board
Water Conservation Board. Division of Waler Resources. Division of Wildlife