BOARD01219

• Board Meeting Date: 1/24/2001
• Description: CF Section - Western Area Power Administration Loan - Interest Rate Collateral and Term
• Board Meetings - Doc Type: Memo

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STATE OF COLORADO

.Colorado Water Conservation Board
Department of Natural Resources
1313 Sherman Street, R.oom 721
Denver, Colorado 80203
Phone: (303) 866,3441
FAX: (303) 866,4474
www.cwcb.state.co.us

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MEMORANDUM

Bill Owens
Governor

TO:
FROM:
DATE:
RE:

Greg E. Wa1cher
Executive Director

Colorado Water Conservation Board Members
Dan McAuliffe r ~([C.l-
January 23, 2001 /GV /~
Agenda Item 6(a) ../Western Area Power Administration Loan -
Interest Rate, Collateral and Term

Rod Kuharich
Director

Dan McAuliffe
Deputy Director

Background

Public law 106-392 authorizes the Bureau of Reclamation to construct capital projects.
associ~ted with the Upper Colorado and San Juan River Endangered Fish Recovery Programs.
This authority is terminated in Fiscal Year 2005 and 2007, respectively, and limits to $100
million the total costs of such projects.

The bill also authorizes:

(1) the Secretary to accept contributed funds from Colorado, New Mexico, Utah, and Wyoming,
or political subdivisions or organizations thereof, pursuant to agreements that provide for the
contributions to be used for capital project costs;

(2) the Secretary and the Secretary of Energy, acting through the Western Area Power
Administration, to utilize for such projects power revenues collected pursuant to the
Colorado River Storage Project Act; and, '

(3) the Secretary to utilize such power revenues for the annual base funding contributions to the
programs by the Bureau for a specified period. Requires the Secretary to report to the
appropriate congressional committees on the utilization of such power revenues.

Section 3(c) (2) authorizes power revenues collected pursuant to the CRSP Act to be used as
a source of funding for the capital construction projects of the two recovery programs:

(2) In addition to the contribution described in paragraph (1), the Secretary of Energy,
acting through the Western Area Power Administration, and the Secretary of the Interior,
acting through the Bureau of Reclamation, may utilize power revenues collected pursuant
to the Colorado River Storage Project Act to carry out the purposes of this subsection.
Such funds shali be treated as reimbursable costs assigned to p0wer for repayment under
section 5 of the Colorado River Storage Project Act. This additionai contribution shall not
exceed $17,000,000. Such Cunds shall be considered a non-Federal contribution for the

Flood Protection' Water Project: Planning and Financing' Stream and Lake Protection
Water Supply Prorection . Conservation Planning