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<br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br /> <br />721 Centennial Building <br />1313 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX: (303) 866-4474 <br /> <br />CIS 14-1'1 <br />STAJE OF COLOMDO <br />Cc-g/i1 s. 6/6/tf'f' S <br />Ik ;2P~~EJn:!) 7 ;2/e'4Sl14- .:: ~ <br /> <br />..-- <br /> <br />1,# <br /> <br />October 31, 1997 <br /> <br />Roy Romer <br />CovernOl <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 Director, DNR <br />DMies C. Lile, P.E. <br />RE: Loan Deauthorizations Director, (WCB <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 immediate 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 4%" 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 application 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 new 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 />*- <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 />hn vlCiver, P.E. <br />Project Planning and Construction Section <br />Colorado Water Conservation Board <br /> <br />Attachment: Draft letter <br />cc: Bill Stanton <br />D:/SanMiguelWCD.Dltr <br /> <br />*.4.[)LJE!) /SStlL-- !!!!ruJottlD6E-lZE&tf//frv!) 7'0 R:l:DAY 17.k U>JrPr- <br />1)./E ;:64-:5/8/1111/ .s71l!Jy (,.{~?d- $" &-;o~) /,c lJIL Y <br />I3w //0 7}JE.. ,;!J/U>.J""Eer. <br />