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<br />.> <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />e <br /> <br />POLICY NUMBER: 12 <br /> <br />SUBJECT: <br /> <br />PRIORITIZATION OF PROJECT FUND APPLICATIONS <br />FROM THE CONSTRUCTION FUND AND THE <br />SEVERANCE TAX TRUST FUND PERPETUAL BASE <br />ACCOUNT <br /> <br />EFFECTIVE DATE: November 24, 1997 <br /> <br />POLICY: <br /> <br />The Colorado Water Conservation Board (CWCB) will give <br />preference for funding from the Construction Fund and Severance <br />Tax Trust Fund Perpetual Base Account to those projects that are <br />most cost effective, demonstrate the greatest need for assistance in <br />financing, and that best relate to the Board's Long Range Plan. <br />This policy is in addition to the project priority order established in <br />Sec. 37-60-121(1)(b)(1) and (II), CRS. That statute gives the first <br />priority of funds to projects that increase the beneficial <br />consumptive use of Colorado's undeveloped compact entitled <br />waters and the remainder of the funds to projects for the repair and <br />rehabilitation of existing water storage and delivery systems, <br />controlled maintenance of the satellite monitoring system <br />authorized pursuant to section 37-80-102(10) and for investment in <br />water management activities and studies as provided in Section 37- <br />60-119(3) <br /> <br />PURPOSE: To establish a method to prioritize funding requests from the <br />Construction Fund and Severance Tax Trust Fund Perpetual Base <br />Account in the event that the demand exceeds the available funds <br />from either source in any given year. <br /> <br />APPLICABILITY: This policy and procedure apply to all requests for funding from <br />the CWCB Construction Fund and Severance Tax Trust Fund <br />Perpetual Base Account. <br /> <br />PROCEDURE: <br /> <br />In the event that total requests for funding from the CWCB <br />Construction Fund or the Severance Tax Trust Fund Perpetual <br />Base Account exceed the funds available from either source in any <br />given year, the requests for funding will be prioritized as described <br />here. The CWCB staff will prepare, for the Board's consideration, <br />a summary of the technical and financial characteristics associated <br />with each project funding application. The project characteristics <br />will include the type of funding sought, type of project, the cost <br />effectiveness of each project, the estimated total annual yield for <br />water supply, the damages avoided for floodplain projects and the <br />type of project sponsor as shown in the following list in order of <br />priority: <br />