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<br />Position Paper <br />Financing Colorado Water <br />Projects <br />Page, , .4 <br /> <br />-, <br /> <br />> <br /> <br />to revenues in the Basin Fund, but the Basin Fund presently has restrictions <br />limiting its use. We believe that Colorado and other upper basin states should <br />evaluate the options for introducing federal legislation to make the Basin Fund <br />directly accessible to the states. <br /> <br />Recommendations <br /> <br />Water resources development has historically taken long periods of time to imple- <br />ment. In order for Colorado to be in a position to finance water projects in <br />the late 1980's the accumulation of revenues must begin now. <br /> <br />There is some urgency to establishment of the water project fund due to the inact- <br />ivity of the Federal Government and the aggressiveness of states adjoining Colo- <br />rado, Many of the states downstre"m from Colorado h"ve establ ished mech"nisims <br />for developing water projects and have built projects. Wyoming is using its <br />mineral servance tax revenue, which nInount to about $600 mi II ion to dt'velop <br />water projects. Utab is in the final preconstruction activities before constr- <br />ucting a dam on the White River. Also, diversions to the Central Arizona Pro- <br />ject will begin in 3 years, further depleting Colorado River flows. <br /> <br />The Professional Engineers of Colorado ano the Consult ing Eng i nee 1'5 COllnt'i 1 0 I' <br />Colorado recommend that the Colorado State Government take steps to establish <br />a $1 billion Water Developmcnt Fund for use by the Water Resources "nd Power <br />Development Authority. f1alf of. the fund should be established by 1990 and tbe <br />full amount by the year 2000. <br /> <br />We recommend that the Legislature and the Governor act in 1983 to target state <br />income to the Water Development Fund from: 1) lottery revenues, 2) Colorado <br />Genera I Fund appropriations, and 3) establ ishment of a 1/2% sales' tax, <br /> <br />We further recommend that <br />tapping revcnues from thc <br />minds should be assembled <br /> <br />an analysis be <br />Colorado !livcr <br />to perform the <br /> <br />conducted of <br />(l"sin Fund. <br />task. <br /> <br />the potential methods 1'01' <br />Colorado I s mas t c re;l t j Vl' <br />