FLOOD05130 - Laserfiche WebLink

Home Browse Search

Posi tion Paper Financing Colorado Water Projects PREL~M~NARY by Professional Engineers of Colorado and Consulting Engineers Council of Colorado Introduction The Professional Engineers of Colorado (PEC) and the Consulting Engineers Council of Colorado (CECC) represent engineers throughout the state. We believe that construction of needed water projects and other types of cap- ital improvement that meet requirements are essential to the maintenance of the present quality of life Coloradans enjoy. PEC and CECC members are directly involved in planni"g, design and construc- tion of water projects. We support the development of needed, cost efficient, environmentally acceptable projects. A rational, effective method of finan- cing water projects is essential to achieving those goals. We would like to participate in establishing mechanisms to finance water pro- jects through involvement with the Colorado Water Conservation Board (CWCB), the Colorado Water Resources and Power Development Authority (Authority), the Colorado Legislature, and the Governors Office. We feel that action must be taken now so that Colorado will be in a suitable financial posture to aggres- sively develop her water rights in the next decade. This Position Paper out- lines options for financing water projects and makes recommendations. State Financing Organizations The CWCB and the newly created Authority are the two Colorado State Agencies that are involved in funding water projects. The CWCB has provided funds for small water developments throughout the state. The Authority was created in 1981 in order to fund water projects through the issuance of revenue bonds. Presently the Authority is a small organization in the throes ot becoming established but it has potential and will probably become a major enthy by the end of this decade. The Authority will probablY be the organization that provides leadership in establishing financing mechanisms and distribution of funds to appropriate projects. The position of the CWCB as the technical review agency for the water projects is an appropriate compliment to the financing duties of the Authority. We believe there are advantages to having the technical review organization sep- arate from the financing arm. Financing Methods There are two aspects of financing water projects. One aspect is acting as a "banker" for those entities that have the abil i ty to repay proj ects costs; the