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<br />, <br /> <br />, <br /> <br />e <br /> <br />e <br /> <br />e <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Sherman Street <br />Denver, Colorado B0203 <br />Phone: (303) 866-3441 <br />FAX, (3031 866-4474 <br /> <br />STATE OF COLOMDO <br /> <br />. <br /> <br />MEMORANDUM <br /> <br />8illOwens <br />Governor <br />Greg E, Walcher <br />Executive Director, DNR <br />Peter H. Evans <br />Director, eWeB <br /> <br />TO: Colorado Water Conservation Board Members <br /> <br />FROM: Mike Serlet, P.E., Chief, Water Supply Planrung and Finance Se~t;on /;(jj <br />Bill Green, P.E., Water Supply Planning and Finance Section ~/~ <br />John Van Sciver, P.E., Water Supply Planning and Finance Section -:JVtJ/.b <br /> <br />DATE: November 16, 1999 <br /> <br />SUBJECT: Agenda Item IOa-k - November 22-23, 1999, Board Meeting <br />Water Supply Planning and Finance <br />Loan De-authorization Review <br /> <br />Introduction <br /> <br />In September of this year, the Board adopted Board Policy #1, Construction Fund and Severance <br />Tax Perpetual Base Account Project Time Limits, which policy provides thefollowing direction: <br /> <br />The Colorado Water Conservation Board (CWCB) shall review the status of all <br />Construction Fund and Severance Tax Perpetual Base Account loan projects that do not <br />have a fully executed CWCB funding contract within three years of the project's <br />legislative authorization. These projects may be recommended for inclusion in the list of <br />Project Loan De-Authorizations in the next annual Construction Fund Bill unless the <br />Board specifically approves a time extension. <br /> <br />The Policy further outlines the basis for staff recommendations: <br /> <br />1. If the Project Sponsors have not shown diligence toward execution of a funding <br />contract within three years of their authorizing legislation, the staff will recommend <br />to the Board that the project be included in the Project Loan De-Authorization <br />recommendation to the Legislature. <br /> <br />2. If the Project Sponsors have progressed towards execution of a project funding <br />contract, but the progress has been delayed due to extenuating circumstances, the <br />staff may recommend that the Board extend the project time limit for one year. The <br />staff will continue to review the project on an annual basis until a CWCB funding <br />contract is fully executed or the Board has recommended de-authorization to the <br />Legislature. <br />