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<br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />Fund loan for an additional $5,375,000 for the Eagle Park Project and that the lending rate for the <br />additional loan be that rate adopted by the Board in November 1996 for municipal high income <br />and commercial loans and that the term of the loan will be 30 years. Staff further recommends <br />that the following conditions must be met prior to entering into a contract with the Eagle Park <br />Reservoir Comp.my: <br /> <br />1. The loan applicants will withdraw their opposition and will consent to the decree negotiated in <br />Division 5, Case No. 92CW286. <br /> <br />2. The applicants and the staff of the Colorado Water Conservation Board will reach a mutually <br />acceptable agreement concerning the applicants' water rights exchange application in Division 5, <br />Case No. 95CW348. <br /> <br />3. The reclamation of the Eagle Park Reservoir site will be certified as acceptable by the Colorado <br />Division of Minerals and Geology and water from Eagle Park Reservoir will meet all applicable <br />water quality, health, safety, and environmental standards at the point of delivery of such water <br />into the East Fork of the Eagle River. <br /> <br />4. That the applicants will have ownership of sufficient water rights to provide a firm yield of no <br />less than 2,100 acre-feet. ' <br /> <br />5. The loan will be secured by all shares of stock in the Eagle Park Reservoir Company with the <br />exception of those shares representing the first 500 acre-feet of firm yield owned by Vail <br />Associates. <br /> <br />6. The staff of the Colorado Water Conservation Board will have the opportunity to review and <br />comment on the purchase agreement between the Eagle Park Reservoir Company and Cyprus <br />Climax Metals Company prior to the time that agreement is consummated. <br /> <br />7. The applicants will prepare and submit to the CWCB staff a final feasibility report for the Eagle <br />Park Project prepared in accordance with the Construction Fund Guidelines. <br /> <br />8. The loan will be subject to all standard contracting requirements of the CWCB. <br /> <br />Attachment <br />cc: <br /> <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 />Glenn Porzak, Porzak Browning & Johnson <br />Linda Bassi, AGO <br /> <br />6 <br />