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L - <br /> The purposes of the proposed feasibility study is to <br /> determine present structure deficiencies and study in particular <br /> the replacement of the outlet works, improvements to the existing <br /> riprap, repairs to the emergency spillways, installation of <br /> monitoring devices, and the total cost of repairs. The requested <br /> feasibility study is expected to cost $4, 000. The Company will <br /> pay directly for 50 percent of this amount and is asking for <br /> Board funds for the remaining 50 percent of the cost. The <br /> proposed project would be in accordance with Section <br /> 37-60-121 (b) (II ) , Colorado Revised Statutes . <br /> Recommendation <br /> The staff recommends that the Board approve this request <br /> provided that: <br /> (1 ) the Board shall pay for one-half of the study cost, not to <br /> exceed $2, 000, and <br /> (2) the Board' s cost shall be considered a part of the project ' s <br /> total cost if the project is subsequently built with con- <br /> struction fund monies, or the Board 's cost shall be repaid <br /> in full with interest at 5 percent per annum if construction <br /> on the project is initiated within 10 years without the <br /> benefit of construction fund monies . <br /> JWM/gl <br /> MEMORANDUM -2- September 5, 1984 <br />