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<br />Under these ci~cumstances. it is imperative that any money <br />borro~ed from the construction fund be "epaid to it. It has <br />consistently been the position of the General Assembly in the <br />past that such repayment should include the interest earnings <br />that ~ould have other~ise accrued to the construction fund had <br />the money not been borro~ed. <br /> <br />Finally, please be advised that $20 million (plus <br />interest), rather than $1S million. ~as repaid to the <br />construction fund in FY 1986-87 despite the provisions of <br />section 2 of chapter 199. Session La~s of Colorado 1987, as <br />codified at section 24-7S-213. CRS. Thus, an expenditure of $S <br />million from the general fund to repay the construction fund in <br />FY 1987-88 need not'be made. We are advised that the current <br />unencumbered cash balance of $S3.2 million in the construction <br />fund includes the $Smillion ~hich was repaid a year early. <br /> <br />JWM/gl <br /> <br />Enclosure: as stated <br />cc: Curt Wiedeman, OSPB <br />Chips Barry, DNR <br />Debbie Wagner, DNR <br />Representative Paulson <br />Representative McInnis <br />Senator Bishop <br /> <br />~ <br /> <br />-2- <br />