At the May 1, 1998 Board Meeting, Resolution No. 98-12 authorized Bonds of the Authority to be designated as “Water Resources Revenue Bonds,” for funding for water related projects that do not qualify for funding from the DWRF and WPCRF programs.
Maximum Loan Amount: $500,000,000 (Larger loans require a joint resolution from the General Assembly).
Interest Rate: Determined by bond market conditions.
Maximum Term: Useful Life of the Project.
Eligible Borrowers: Colorado cities, towns, counties, water districts, water and sanitation districts, metropolitan districts, water conservancy districts, water conservation districts, irrigation districts and any enterprise created by the foregoing.
Eligible Projects: Water and wastewater treatment plants, pump stations, dams/reservoirs, water rights, pipelines, hydro-electric projects, wells, meters, reuse, storage tanks, etc.
Costs of Issuance: The Authority will subsidize $300,000 per borrower per project, borrowers must cover 15% of the cost of issuance (“COI”). Approved applicants with an MHI at or below 90% of the prevailing average state MHI will also only have to cover 15% of the COI and will be eligible for up to a $500,000, subsidy to cover the remaining COI.