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<br />\ <br /> <br />e <br /> <br />e <br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866.3441 <br />FAX: (303) 866-4474 <br />WWW.cwcb.state.co.llS <br /> <br />~ <br /> <br />Bill Owens <br />Governor <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />MEMORANDUM <br /> <br />Dan McAuliffe <br />Acting Director <br /> <br />TO: Colorado Water Conservation Board Members <br /> <br />FROM: <br /> <br />Jan lilian, Contract Adminis ator <br />Mike Serlet, P.E., Chief, W ter <br /> <br /> <br />ply Planning and Finance sec,ll/J' <br /> <br />DATE: <br /> <br />September 15, 2000 <br /> <br />SUBJECT: Agenda Item 12(a) September 25-26,2000, Board Meeting <br />Water Supply Planning and Finance Section - Change in Existing <br />Loan - City of Idaho Springs - Loan Payment Deferral and Collateral <br />Revision <br /> <br />INTRODUCTION. <br /> <br />The City of Idaho Springs is seeking (1) a deferment on the payment for Loan Contract <br />C153740, and (2) revision of the collateral for its loan approved by the Board in <br />November 1997. <br /> <br />DEFERMENT REQUEST. <br /> <br />The Board entered into Contract No. C153740 with the City of Idaho Springs on May 13, <br />1997 for a loan in the amount of $130,000 from the CWCB Emergency Infrastructure <br />Loan Account for the repairs to the raw water intake structure and the outlet valve of the <br />City's raw water reservoir. The Board approved the loan with a repayment term of three <br />years. The first two payments the City made were "interest only payments" of $6,175. <br />The third payment, a balloon payment of the total principal amount ($130,000) and <br />interest ($6,175), will be due on October 1, 2000. <br /> <br />In November 1997, the Board approved an additional loan to the City in the amount of <br />$955,000. Of this amount, $825,000 would be used for the project costs to rehabilitate <br />the City's reservoir and $130,000 of the loan proceeds would be used to payoff the <br /> <br />Flood Protection. Water Project Planning and Financing. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />