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<br />~ <br />~, <br /> <br />. <br /> <br />... <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />721 Centennial Building <br />1313 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (3031866-3441 <br />fAX: 13031 866-4474 <br /> <br />STATE OF COLOMDO <br /> <br />~ <br /> <br />Roy Romer <br />Covernol <br /> <br />J<'Imes S. Lochheild <br />Executive Director, ONR <br /> <br />DilriesC. Lile, RE. <br />Direclar, eweB <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />Colorado Water Conservation Board Members <br /> <br />William P. Stanton.' P.E. ~. <br />Chief, Project Planning and Construction Section <br /> <br />FROM: <br /> <br />DATE: <br /> <br />January 25, 1998 <br /> <br />SUBJECT: Agenda Item 23b, January 28-29, 1998, Board Meeting - <br />Water Project Construction Loan Program <br />General and Financial Matters, Delinquent Payments <br /> <br />Staff has identified the Town of Starkville and the Coon Creek Reservoir and Ditch Company as <br />being delinquent in making payments on Construction Fund loans. <br /> <br />. In November 1997 the Board approved a request by the Town of Starkville for a deferment <br />of their 1997 payment. Staff will negotiate an amendment to their contract. <br /> <br />. The Coon Creek Reservoir and Ditch Company paid only $1,500 of their 1997 annual payment <br />($3,902) and their 1998 payment is due this month. They are technically in default on their <br />loan of $55,000 made in 1989 at 5.0% interest over 25 years to rehabilitate Coon Creek <br />Reservoir Dams No.1 and No.2 located in Mesa County. The loan balance is currently <br />$48,632.08. <br /> <br />L:\BOARDMEMIJAN98\980 1-23B,DOC <br /> <br />1 <br /> <br />-~",.~-": <br />