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<br />/ <br /> <br />-., <br /> <br />\ <br />" <br /> <br />BEAVER PARK PROJECT, Continued <br /> <br />. <br /> <br />f. Thus, the entity, unless something is done, Can hardly afford <br /> <br />payments and is becoming progressively unable to operate, maintain, <br /> <br />and improve the system. <br /> <br />CURRENT STATUS <br /> <br />In February, 1977, the Beaver Park Water, Inc., applied to the <br /> <br />Colorado Water Conservation Board (CWCB) for assistance. The staff <br /> <br />has since then visited the area and has made suggestions to improve <br /> <br />the existing system. The entity was made aware of interest-free <br /> <br />drought money available through the U. S. Bureau of Reclamation and <br /> <br />the Agricultural Stabilization Conservation Service and subsequently <br /> <br />secured $100,000 of interest-free money from the Bureau. <br /> <br />The board of Beaver Park ltiater, Inc., has also authorized an <br /> <br />engineering study and report which will be 50 percent funded by the <br /> <br />entity, the rest of the money to be contributed on a reimbursable <br /> <br />basis by the CECB. <br /> <br />PROPOSED PROJECT <br /> <br />In the money made available for projects in S.B. 537, in July, <br /> <br />1979, $1,500,000 is to be spent for the Beaver Park project. The <br /> <br />money will be used to refinance the existing loan obtained from the <br /> <br />Wichita Bank of Cooperatives. <br /> <br />RECOHMENDATION <br /> <br />Since the legislature has decided to make the money available to <br /> <br /> <br />.. Beaver Park Water, Inc., the staff is proceeding on that basis and is <br /> <br />-3- <br />