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<br />Colorado Water Conservation Board <br /> <br />Department ofN_atural Resources <br /> <br />721 Centennial Building <br />131 3 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX: (303) 866-4474 <br /> <br />c-->Is- Z 4f-1 i' <br />S1il\..TE OF COLC)RADO <br />CC - /3/11 s. cr//):lf' ~ <br />Ik /2Uf;tifJff!) 7,h/<0;J.&:I-. <br /> <br />October 31, 1997 <br /> <br />Roy Romer <br />Governof <br /> <br />Mr. Bill Bray, President <br />San Miguel Water Conservancy District <br />C/O Bob Bishop <br />P.O. Box 130 <br />Norwood CO, 81423 <br /> <br />J~mes S. Lochhe~d <br />Executive Di rector, DNR <br />D~ries C. Lile, PE. <br />RE: Loan Deauthorizations Director, CWCB <br />$7,500,000 from HB 83-1102 <br />$1,012,500 from HB 85-1042 <br /> <br />Dear Mr. Bray, <br /> <br />I request a letter from you, allowing us to deauthorize the above loan authorizations obtained by the <br />District in 1983 and in 1985. I am making this request for the following reasons: <br /> <br />1. These authorizations are over 10 years old, and have: not been utilized. <br /> <br />2. It is my understanding that the District has no imme:diate plans to proceed with the projects that <br />these authorizations were originally intended to fund. <br /> <br />3. The interest rate on these authorizations is 5%, while the current rate that is offered by the <br />CWCB for an agricultural project loan is just 40,,{.. On the $7.5 million loan amount, your <br />existing authorization would cost the District an additional $1.62 million in interest during the <br />life of the loan, over the cost of a new appli(:ation and authorization at the lower 4% rate. On <br />the $1 million loan amount, your existing authorization would cost the District an additional <br />$220,000 in interest during the life of the loan" over the cost of a ne:w application and <br />authorization at the lower 4% rate. <br /> <br />4. The CWCB has received a number of requests for loan authorizations in 1997, and there is a <br />need to move unused funds back into our general account. <br /> <br />)f <br /> <br />Please sign and return the attached letter allowing us to deauthorize these loans. The funds will be <br />placed back in our general account, and will be made available to others who wish to construct raw <br />water projects in the State. <br /> <br /> <br />'ncerely, <br /> <br /> <br />~Civer, P.E. <br />Prc~ect Planning and Construction Section <br />Colorado Water Conservation Board <br /> <br />Attachment: Draft letter <br />cc: Bill Stanton <br />D:/SanMigueIWCD.Dltr <br /> <br />* AiJ()i;~) <br /> <br />ISSt/E - 7i/1-:ytlA>/:ID ilL /3::-41///1;5:.) -n:; /eP-1-Yl)< lll::= ?,bl/V--;t.?/- <br />'TlI~ riCL .n j~' <:'7.> /./1. . / "'/2.. ' ,q-' ':' I I / :n ,'. <br />/Vt"'-~ rt/rSIP/// ',r~'!/!~' <. /i~:i?r '/"' e(X:~>c" I;::: f/:LLY <br />1:1/, /,,> 77/(;7 1~n r;r--;"'r- <br />_''-"1,-1' //1.-...1 /.I.LJ__ '7v~. -_J/_ \....-., . <br />