Laserfiche WebLink
<br />1.3.4 Determination of Available Funds <br /> <br />a. In March of each year, the staff shall present to the Board a complete review of <br />the Construction Fund status including: <br /> <br />(1) Total loans outstanding by category (Le., ag/ raw water! dam safety, etc.) <br />showing total dollars and number of loans. <br /> <br />(2) Delinquent loans by item, dollar amount, and total number. Staff shall <br />have a recommended reserve amount for delinquencies based on current <br />year data and history. <br /> <br />(3) Projection of funds available for the calendar year, based on anticipated <br />principal and interest payments, mineral lease fund revenue, and other <br />funding anticipated for the next year, added to any current "available" <br />balance, less debt reserve. <br /> <br />b. Based on the forgoing projection, the CWCB shall determine, no later than the <br />end of March, a preliminary dollar amount available for Construction Fund uses <br />for the next legislative session beginning in the next calendar year. <br /> <br />c. The Board's financial criteria shall be reviewed annually in March of each year. <br /> <br />d, In September of each year, the Board will review the status of all previously <br />authorized projects which are as yet not started or are unfinished. The Board will <br />review for reasonable progress on all projects which have <br /> <br />(1) not started 24 months after authorization, and <br /> <br />(2) projects still in process 36 months after authorization. <br /> <br />From this review the Board will determine projects to be deauthorized. <br /> <br />e. In November of each year, the Board will review the preliminary dollar amount <br />available for Construction Fund uses as determined in March, and make such <br />adjustments as may be called for to determine a final amount available for <br />Construction Fund uses for the next legislative session. <br /> <br />f. In November of each year, the Board will list the projects to be recommended to <br />the General Assembly in the next legislative session, subject to the following <br />prioritization: <br /> <br />(1) projects within the final amount available for Construction Fund uses as <br />herein determined, and <br /> <br />(2) projects requiring additional funds to be appropriated by the Legislature. <br /> <br />6 <br />