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I . . STATE OF C o 0) COLORADO WATER CONSERVATION BOARD Department of Natural Resources 721 State Centennial Building 131 3 Sherman Street Denver, Colorado 80203 Phone: (303) 866-3441 December 15. 1986 Richard D. Lamm Governor ,. William McDonald Director David W. Walker Deputy Director Sedgwick-Sand Draws Watershed Conservancy District P.O. Box 70 Julesburg. CO 80737 Re: Water Project Contracts C-153363 C-153399 and -Bee-embe-r -2 3-._19.8.6.- ~'5) 1'fS'7 Gentlemen: We are in the process of preparing a new contract with the district. making available $75.000. the last of the state authorized amounts. We understand that Phase III of the project will be funded with this money. We have also evaluated the two previous contracts with the district. From the two. contract C-153399 provides $67.000 for Phase II of the project with repayment starting after the total project is completed. Because no moneys additional to the $75.000 are available from the state. it is assumed that. as far as the Board is concerned. Phase III is the last phase of this project. The staff is therefore processing an amendment to contract C-153399 to make repayment commence immediately after Phase III has been completed. In evaluating the capability of the district to repay the amounts loaned ($175.000 total) and because of the difficulties the district had in repaying $1.206.48 per year (as provided in the Phase I contract. C-153363) we have the following questions: (1) Indicate if the district has the capabi li ty to make yearly payments of: (a) $1206.48 as provided in contract C-153363. (b) $2449.52 as provided in contract C-153399. and (c) $4371.00 as provided in the December 23. 1986 contract. 2332E