25e

• Board Meeting Date: 11/19/2008
• Description: CF Section - Changes to Existing Loans - Silt Water Conservancy District - De-authorzation of Pump Plant Transformer
• Board Meetings - Doc Type: Memo

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TO: Colorado Water Conservation Board Members
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FROM: Tim Feehan, P.E.
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Mike Serlet, P.E., Chief
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Water Supply Planning and Finance Section
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DATE: November 10 , 2008

Ag enda Item 25e November 18 - 19, 2008 Board Meeting
SUBJECT:
Water Supply Planning and Finance Section - Changes to Existing Loans
Silt Water Conservancy District De - author. of Pump Plant Transformer

Introd uction

In September 1999, the B oard 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 Constructio n
Fund and Severance Tax Trust Fund Perpetual Base Account loan projects that do not have a
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 ex ecution 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 prog ressed 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.

Recommendation

Staff recommends the Board approve the de - authorization of the Silt Water Conservancy
District Pump Plant Transformer Project Loan, C150135, in the amount of $490,860.