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<br />Octobcr 30, 1996 <br /> <br />RECEIVED <br />OCT 3 1 1996 <br /> <br /> <br />II <br /> <br />Upper Yampa Water Conservancy District <br /> <br />Colorado Water <br />Conservation Board <br /> <br />William E. Green, P.E., <br />Manager of Planning <br />Colorado Water Conservation Board <br />721 Centennial Bldg. <br />1313 Sherman Street <br />Denver, CO 80203 <br /> <br />I.': <br /> <br />I <br />~' L I <br />~ I '; <br />J E ;. <br /> <br />l..::-,J.'7'"~~_- . "-.~': . <br /> <br />Re: Stagecoach Project Refinancing of USBR loan <br /> <br />Dear Bill: <br /> <br />In reviewing the correspondence and material I sent you last week, it appears that we have not <br />adequately explained the justification for requesting funding to payoff the Bureau loan. As you <br />are aware we had to obtain, from the Federal Energy Regulatory Commission, a license to operate <br />the hydroplant. It has therefore been necessary for the District to deal \vith two separate agencies <br />namely t'ERC and USBR. The Bureau administers what they call an Enviromnental Commitment <br />Plan consisting of seventy environmental commitments which the District is obligated to satisfy. <br />FERC has there own list which differs from the Bureaus. It has been very difficult for the District <br />to satisfy both entities. <br /> <br />Pa:ying off the loan would simplify this matter by eliminating one governmental agency. We are <br />presently paying an interest rate of 6.5)010 on the 3.1 million dollar loan. This rate could increase if <br />the Bureau decides that three or four of the ranchers receiving project water are irrigating surplus <br />lands. This issue raised two years ago has not been resolved. Finally, the lowering of the interest <br />rate to possibly 5.5% would be of great financial benefit to the District. <br /> <br />Yours Sincerely, <br /> <br />UP ER Y AMP A WATER CONSERVANCY DISTRICT <br />I <br /> <br /> <br />P, S. <br /> <br />l WIll f/~II\ fp <br />I J . ;> f ;4Yn 1>6'l'J. <br /> <br />;> f/~ d tk- <br />"f )1n1 ~1 <br /> <br />if <br /> <br />Ph'r/ M~~h7 <br />2' M"", <br /> <br />If ;1 <br /> <br />Phone: (303) 879-2424 <br /> <br />Steamboat Springs, Colorado 80488-0339 <br />