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<br /> <br />1 <br /> <br />f-' 101 W. McCune <br /> <br />Fruita, CO 81521 <br /> <br />(303)Jl511-3663 <br />,'; i;, i " <br /> <br />AUG 2 2 1988 <br /> <br />c:..r <br /> <br />August 16, 1988 <br /> <br />I'lr. Ni,ck Ioannides <br />Colorado Water Conservation Board <br />721 State Centennial Building <br />1313 Sherman Street <br />Denver, CO 80203 <br /> <br />Dear Mr. Ioannides: <br /> <br />As you know we are working with Tony Martinez on the process for <br />substituting collateral on our loans. He asked me today to write <br />to you with our propossed "pay back" schedule for deferred <br />payments. <br /> <br />Enclosed please find two letters which outline our proposal. The <br />reason for starting the "pay back" process in 2007 is due to our <br />$725,000 annual General Obligation bond payments which end in <br />2006. It is these $725,000 payments that really eat us alive. <br />Once these payments are behind us we will be able to make up the <br />deferred payments with some degree of grace and dignity. <br /> <br />If you need additional information please let me know. <br /> <br />Sincerely, <br /> <br />R~.~~ <br /> <br />Robert Engleke <br />City Manager <br /> <br />cc: Tony Martinez <br />