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ay. The old one was obsolete and had to be changed within 4-5 years time. The Division ater Resources will pay half of the cost of $5000. Now is a good time with an empty pond. Business cing Reservoir Repairs - Further discussion was held on obtaining a $100,000 emergency with the Colorado Water Board or using the certificates of deposit. Current interest on the ificates is 2.75%. A discussion was held on how much the repairs would cost. Rod reported tha the cost for Brimhall is going to be approximately $60,000 for the current hours plus the cost of additional crane after their employee was hurt. It is possible that the trash racks will cost an ditional $40,000. The time:frame of the loan would be 40 years. It is not sure if there wo Id be a prepayment penalty in case of early payoff. The interest rate of a Water Board loan is t known at this time. The Board said that they didn't feel it would make much difference eit r way if the assessments were raised to pay an additional loan payment or work at slowly roo ilding the certificate of deposit. A discussion was held on alternative sources of funding. R said he has not been able to find any at this time. A discussion was also held about finding a ~ writing. Bryan said that he and Rod attended a grant seminar which gave several sources of ding, but nothing for private sources. It was decided to use the certificates of deposit at thi time so that assessments to not have to be raised to fund another loan payment. It Was the co nsus of the stockholders to leave it up to the discretion of the Board of Directors whether or not a loan needs to be applied for to cover the costs of the repairs at the reservoir. en Form - We are trying to locate the wooden casting form made in the 80's. It is in a box 5x5 and will be used to cast a new gate. The wooden form is expensive to make so we to locate it. ing adjourned at 3:00 p.m.