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<br />Colorado Water Conservation Board <br /> <br />Department of Natural 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 />t!...l CS 0 tJ SK" ~ <br />SlJ~TE OF CC)LeJRADO <br />. <br /> <br />.., :1 <br /> <br />October 30, 1997 <br /> <br />Roy Romer <br />Covernor <br /> <br />Mr. John Porter, General Manager <br />Dolores Water Conservancy District <br />P.O. Box 1117 <br />Cortez CO, 81321 <br /> <br />J~mes s. Lochhe~d <br />Executive Director, DNR <br /> <br />D~ries C. Lile, P E. <br />Director, CWCB <br /> <br />RE: <br /> <br />Deauthorization of$5,617,392 Loan <br />HB 83-1102 <br /> <br />Dear John, <br /> <br />I request a letter from you, allowing us to deauthorize the above loan authorization obtained by the <br />District in 1983. I am making this request for the D)llowing reasons: <br /> <br />1. The authorization is over 10 years old, and has not been utilized. <br /> <br />2. It is my understanding that the District has no current plan to proceed with the prqject that the <br />authorization was originally intended to fund. <br /> <br />3. The interest rate on the authorization is 5%, while the current rate that is offered by the CWCB <br />for an agricultural project loan is just 4%. On a $5.6 million loan amount, your existing <br />authorization would cost the District an additional $1.2 million in interest during the life of the <br />loan, over the cost of a new application and 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 />Please sign and return the attached letter allowing us to deauthorize your loan. 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 />ansc~ ---. <br />Project Planning and Construction Section <br />Colorado Water Conservation Board <br /> <br />Attachment: Draft letter <br />cc: Bill Stanton <br />D:/DoloresWCD.Dltr <br />