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<br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br /> <br />1313 Shennan Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX: (303) 866-4474 <br /> <br />MEMORANDUM <br /> <br />To: <br /> <br />From: <br /> <br />Contract Files <br /> <br />S. S. Biondo, Conttact Compliance o~ <br />July 8, 2003 <br /> <br />Date: <br /> <br />Subject: <br /> <br />City of Victor <br />C153477 Project Closed <br /> <br />Purpose: <br />initiation. <br /> <br />To determine applicability of the repayment clause relative to a to-year project <br /> <br />Data: <br /> <br />1. A Feasibility Report Contract was consummated with the City of Victor on <br />October 1, 1986, for $22,500.00. <br />2. The Feasibility Study was completed March 2, 1987. <br />3. The 10-year clause for the project to be built expired October 15, 1996. <br />4. The City of Victor re-submitted another Feasibility Study April 15, 1995 to <br />rehab Victor Dam No.2. <br />5. A loan in the amount of $600,000 was authorized by HB 95-1155. <br />6. The contract was consummated August 1, 2001, by CWCB and the City of <br />Victor. <br />7. The project began in September 2001. <br />8. The project had not been built during the initial10-year period. <br /> <br />Conclusion: Feasibility Report Contract No. C153477 is closed and repayment will not be <br />required since the project had not been built prior to 1996. This exceeds the agreement provisions <br />and is not enforceable. <br /> <br />