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<br />Mr. Glen Porzak <br />Eagle Park Reservoir Project <br />February 24, 1997 <br /> <br />, <br /> <br />, <br /> <br />4. The applicants will have in their possession and will maintain ownership of sufficient <br />water rights to provide a firm yield ofl1o less than 1,500 acre-feet. <br /> <br />5. The loan will be secured by all shares of stock in the Eagle Park Reservoir Company <br />with the exception of those shares representing the first 500 acre-feet of firm yield <br />owned by Vail Associates. <br /> <br />6. The staff of the Colorado Water Conservation Board will have the opportunity to <br />review and comment on the purchase agreement between the Eagle Park Reservoir <br />Company and Cyprus Climax Metals Company prior to the time that agreement is <br />consummated. <br /> <br />Please coordinate with Bill Green and Jan rllian of my staff on completion of the <br />foregoing list ofloan conditions. J an will draft the loan contract and will work with you <br />in the contract approval process which may take up to three months. <br /> <br />On behalf of the Board and the staff, I would like to thank you for applying for a loan <br />from the Colorado Water Conservation BolU"d Construction Fund. <br /> <br />Sincerely, <br /> <br />~ <br /> <br />William P. Stanton, P.E. <br />Chief, Project Planning and Construction So::ction <br />Colorado Water Conservation Board <br /> <br />cc: <br /> <br />Chuck Lile <br />Bill Green <br />Jan I1Jian <br />Linda Bassi, AGO <br />Dennis Gelvin, Upper Eagle Regional Water Authority <br />David Hallford, CRWCD <br />Rick MacCutcheon, Upper Eagle Regional Water Authority <br />Rick Sackbauer, Eagle River Water & San. Dist. <br />Paul Testwuide, Vail Assoc. <br />Jeff Houpt, Eagle County <br />