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<br />" <br /> <br />e <br /> <br />e <br /> <br />e <br /> <br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX: (303) 866-4474 <br /> <br />~ <br /> <br />Bill Owens <br />Governor <br /> <br />MEMORANDUM <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />TO: <br /> <br />Colorado Water Conservation Board Members <br /> <br />Bill Green, P.E., Water Supply Planning and Finance Section"J36" <br />Mike Serlet, P.E., Chief, Water Supply Planning and Finance Sectjpp( Dan McAuliffe <br />VVr Deputy Director <br /> <br />September 19, 2000 <br /> <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: <br /> <br />Agenda Items 13 a. and 13 b., September 25-26, 2000 Board Meeting <br />- Water Supply Planning and Finance - Policy No.7 (Lending Rates) <br />and Policy No.8 (Rate of Retum) <br /> <br />Introduction <br /> <br />This memorandum outlines suggested revisions to the Board's existing policies on lending rates <br />(Policy No.7) and rate of return (Policy No.8) based on the discussion that took place at the <br />August 29th Water Projects Funding Workshop. <br /> <br />Policv No.7 - Annual Construction Fund and Severance Tax Trust Fund Pel1letual Base <br />Account Lendinl!: Rate Determination <br /> <br />At the Water Projects Funding Workshop in August, staff presented a projection of30-year <br />lending rates for the year 2001 based on bond yield data for November 1 999 through August <br />2000. The projection indicates that all lending rates would increase by one-half of one percent <br />using the procedure for lending rate determination described in Policy No.7. Several more <br />weeks of bond yield data will be analyzed before staff makes a recommendation on lending rates <br />in November of this year but it is unlikely that the rates will be different than the projection <br />presented at the workshop. <br /> <br />There is concern among both Board members and staff about increasing the Agricultural lending <br />rate for 2001 in light of the difficulties being experienced by Colorado farmers and ranchers this <br />year. Staff would therefore like to suggest some options for the year 2001 Agricultural Rate that <br />would result in freezing the existing rate or establishing a new procedure for calculation of the <br />Agricultural rate. <br />