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<br />;., I <br /> <br />: <br /> <br />. <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />721 Centennial Building <br />131 3 Sherman Street <br />Denver, Colorado 80203 <br />Phone: 13031 866.J441 <br />FAX: 13031866-4474 <br /> <br />STATE ~ COLORI\DO <br /> <br />- <br /> <br />I <br />,); <br /> <br />Roy Romer <br />Governor <br /> <br />James S. Lochhead <br />Executive Oireaor. DNR <br /> <br />Oaril:!'sc. Lile, P.E. <br />Direaor, CWCB <br /> <br />MEMORANDlTM <br /> <br />TO: <br /> <br />Colorado Water Conservation Board Members <br /> <br />. . W?? <br />Wilham P. Stanton, P.E. . <br />Chief, Project Planning and Construction Section <br /> <br />FROM: <br /> <br />DATE: <br /> <br />November 19, 1997 <br /> <br />SUBJECT: <br /> <br />Agenda Item 9a, November 24-25,1997, Board Meeting- <br />Water Project Construction Loan Program- <br />Rodney Priesser - Purchase of Augmentation Water <br /> <br />Introduction <br /> <br />At the July 21,1997 Board meeting, the Board approved a loan of$90,000 from the Horse Creek <br />Basin Account to Mr. Rodney Priesser to purcbase water rights for augmentation. However, the <br />Controller's Office and the Department of Natural Resources Accounting Section interpret the <br />language in paragraph (2) of section 14 of SB 97-008, concerning the Horse Creek Basin Account, <br />differently than CWCB staff. According to accounting, the way this statute is written, loans from <br />the account have to be authorized by the Legislllture due to the reference to section 37-60-119 (2) <br />which refers to section 37-60-122 which describes projects authorized by the Legislature. <br /> <br />Rackground <br /> <br />SB 87-008 directed the State Treasurer to transfer $915,000 into the Horse Creek Basin Loan <br />Account so we could loan $825,000 to the Horse Creek Water Users Association (HCWUA) and up <br />to $90,000 to another borrower not specified in the bill (Mr. Rodney Priesser). The money for the <br />HCWUA loan was authorized in paragraph (3) since we knew the name of the entity and the exact <br />amount. <br /> <br />1 <br />