Board Meeting 09/13/1984 J. William Mcdonald Director and Secretary

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Letter to N. C. Ioannides August 15, 1983 Page Two • sum of $10,202. 36. . . irrespective of how, or by • whom, the subject water project is financed or paid for so long as construction is initiated . within the specified time. " Obviously, this provision is designed to preclude state feasi- bility . study monies from not being repaid when a specifically recommended project resulting from those studies is completed without financing assistance of the CWCB; consequently, we think this section is not relevant in those cases where • a completely different project is engineered and completed at a reservoir site. The Henry Waneka Mutual Reservoir Company will gladly comply with Section 5, if we proceed with the project contemplated in the contract which resulted from the WRC prepared feasibility report , within the next seven years. I will be glad to discuss these items further with the Attorney General ' s Office as you proposed -during our meeting, however, I must add that your letter dated August 12 , 1983, was unexpected in light of the points discussed at our meeting and the fact that the project completed by HWMRC at a cost of less than $300,000 compared to an estimated cost of $2, 138, 000 for the project .recommended in the CWCB/HWMRC feasibility report works out to be a considerable savings to both the Reservoir .Company and. to -the Colorado Water Conservation Board. • • Should you or .the Attorney General' s Office require further information or meetings relative to the conclusions of the Reservoir Company in this matter, please feel free to contact me. incerely • Mike Acimovic • Secretary Henry Waneka Mutual Reservoir Company MA/kjg cc: Ron Cohen, HWMRC Attorney HWMRC Board Members • •