BOARD01513

• Board Meeting Date: 3/22/2005
• Description: Water Resources and Power Authority Director's Report
• Board Meetings - Doc Type: Memo

COLORADO WATER RESOURCES &
POWER DEVELOPMENT AUTHORITY

Logan Tower Bldg. - Suite 620, 1580 Logan Street, Denver, Colorado 80203-1942
303/830-1550 . Fax [phone] . [e-mail]

MEMORANDUM

March 23, 2005

TO:

Members, Colorado Water Conservation Board, and Rod Kuharich

FROM:

Daniel L. Law, Executive Director

RE:

Director's Report

Water Pollution Control Revolvinl! Fund

The 2005 Clean Water, Series A, bond issue will likely include loans for Denver SE Suburban WSD ($5
million), Town of Eaton ($5 million), Inverness WSD ($15 million), Plum Creek Wastewater Authority
($1.9 million), Roxborough Park Metropolitan District ($10 million) and the City of Westminster ($20
million). The bond issue to fund these loans is estimated at $55 million. The bonds are scheduled to be
sold in early May.

One day this week, the Authority anticipates selling Wastewater Revolving Fund Refunding Revenue
Bonds, 2005 Series A, totaling $42 million to refund the 1998 Series A and B and the 1999 Series A
Clean Water bond issues. Present value savings for the 10 borrowers involved is estimated at over $1.6
million. Closing for this bond issue is scheduled for March 30. Earlier this year the Authority refunded
$37 million of Clean Water bonds for a net savings of $2.1 million for II borrowers.

Drinkinl! Water Revolvinl! Fund

The 2005 Drinking Water, Series A, bond issue will likely include loans for Cottonwood WSD ($10
million) and the City of Craig ($4.5 million). The bond issue is scheduled for this fall.

One day this week, the Authority anticipates selling its first series of Drinking Water Revolving Fund
Refunding Revenue Bonds, 2005 Series A, totaling $31 million to refund the 1997 and 2000 Drinking
Water bond issues. Present value savings for the 8 borrowers involved is estimated at more than $1.5
million. Closing is scheduled for March 30.

Small Water Resources Proiects and Water Revenue Bonds

At its January 28 meeting, the Authority Board authorized a $55 million loan to East Cherry Creek Valley
WSD to construct a water treatment plant and 28-mile pipeline. The 2005 Water Revenue Bonds, Series
A, were sold On February 17 and closed on February 24. The 3D-year bonds had a true interest cost of
4.39 percent.