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<br />. DNR Accounting has recently identified Paradox Valley Water Conservation District as . <br />"seriously delinquent" on their loan for Buckeye Reservoir. In 1988, the district borrowed <br />$150,000 at 5,00% repayable over 40 years, The annual payment is $8,742 and they have <br />made 10 payments to date, The balance due on the loan remains at $136,043,50 as determined <br />by accounting, The problem appears to be with some partial payments made during the earlier <br />part of the repayment period, We will work with DNR Accounting to resolve the problem, <br /> <br />. The New Cache La Poudre Irrigation Company missed their June 1998 payment of <br />$28,805,38 on a $450,000 loan at 4,00% interest payable over 25 years made in 1995 to <br />replace a diversion structure, The company has made 3 payments, and the balance on the loan <br />is $416,269,92, A reminder letter was sent in May, and we will follow up with a phone call <br />and another letter if necessary , <br /> <br />. The South Platte Ditch Company missed their June 1998 payment of $5,959.82 on their <br />$100,000 loan at 4,25% interest payable over 30 years made in 1996 to rehabilitate their <br />diversion structure, The company has made 1 payment, and the balance on the loan is <br />$98,290,18. A reminder letter was sent in May, and we will follow up with a phone call and <br />another letter if necessary . <br /> <br />L:\BOARDMEM\JUL Y98\20B,DOC <br /> <br />. <br /> <br />. <br /> <br />2 <br />