Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />. <br /> <br /> <br />Based upon the foregoing, it is appropriate to reconuuend that the General <br />Assembly appropriate $1.7 million from the Construction Fund to loan to State <br />Parks. <br /> <br />It is our further recommendation that this one-time loan be made without interest and that <br />it should be amortized and repaid over 30-years and that this action not be considered as a <br />precedent for future requests to the Board. <br /> <br />Recommendation <br /> <br />Staff recommends a Construction Fund loan of up to $1,700,000 to the Colorado Division <br />of Parks and Outdoor Recreation for 30 years without interest to be used for the <br />rehabilitation of Jackson Lake Dam as described in this memo. Staff further recommends <br />the following conditions for loan approval: <br /> <br />1. The design of the project is approved by the State Engineer's Office; <br /> <br />2. Any required permits are obtained; <br /> <br />3. Parks and the Company enter into a revised lease agreement; and <br /> <br />4. As collateral for the loan, Parks will pledge the special account that has been <br />established for repayment of the loan with the Office of the State Treasurer as well as <br />any and all other revenues which may be required for loan repayment. <br /> <br />Cc: Laurie Mathews, State Parks <br />Gene Fritzler, Jackson Lake Res. and Irrig. Co. <br />Jim Ferentchak, W.W. Wheeler <br />Linda Bassi, AGO <br /> <br />5 <br />