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STATE OF COLORADO Colorado Water Conservation Board Department of Natural Resources 1313 Sherman Street, Room 721 Denver, Colorado 80203 Phone: (303) 866-3441 FAX: (303) 866-4474 www.cwcb.state.co.us ~ Bill Owens Governor MEMORANDUM Russell George Executive Director TO: Colorado Water Conservation Board Members Mike Serlet, P.E., '~'dff Chief, W ater suppl~i;ning and Finance Section Rod Kuharich CWCB Director FROM: Dan McAuliffe Deputy Director DATE: November 8,2005 SUBJECT: Agenda Item 26a-b - November 15-16, 2005 Board Meeting Water Supply Planning and Finance - De-Authorization Review Introduction In September 1999, the Board adopted Board Policy #1, Construction Fund and Severance Tax Trust Fund Perpetual Base Account Project Time Limits, which policy provides the following direction: The Colorado Water Conservation Board (CWCB) shall review the status of all Construction Fund and Severance Tax Trust Fund Perpetual Base Account loan projects that do not have a fully executed CWCB funding contract within three years of the project's legislative authorization. These projects may be recommended for inclusion in the list of Project Loan De-Authorizations in the next annual Construction Fund Bill unless the Board specifically approves a time extension. The Policy further outlines the basis for staff recommendations: 1. If the Project Sponsors have not shown diligence toward execution of a funding contract within three years of their authorizing legislation, the staff will recommend to the Board that the project be included in the Project Loan De-Authorization recommendation to the Legislature. 2. If the Project Sponsors have progressed towards execution of a project funding contract, but the progress has been delayed due to extenuating circumstances, the staff may recommend that the Board extend the project time limit for one year. The staff will continue to review the project on an annual basis until a CWCB funding contract is fully executed or the Board has recommended de-authorization to the Legislature. Flood Protection · Water Supply Planning and Finance. Stream and Lake Protection Water Supply Protection. Conservation and Drought Planning -".I~..:.,'li'.b_,,-', .