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<br />PARADOX VALLEY <br />CANAL AND RESERVOIR COMPANY <br />BEDROCK, COLORADO 81411 <br /> <br />November 4, 1981 <br /> <br />. <br /> <br />Department of Natural Resources <br />Colorado Water Conservation Board <br />1313 Sherman Street <br />Room 823 <br />Denver, Colorado 80203 <br /> <br />Gentlemen: <br /> <br />Pursuant to a resolution passed by the Board of Directors of the Paradox <br />Valley Canal and Reserovir Company on November 3, 1981, a copy attached, <br />the Company hereby applies for a loan in the amount of $100,000.00 to <br />construct a project which is described in the attached report, which is <br />a part of this application. <br /> <br />The estimated cost for the proposed project is $102,000.00. The Company <br />proposes that $100,000.00 be financed by a loan from the Colorado Water <br />Conservation Board of a period of 40 years at a 3% interest rate following <br />completion of the project in the amount outlined in this application and <br />report and provide the additional $2,000.00 in funds by assessing the <br />stockholders. <br /> <br />The Company's stockholders strongly support this application. At a May <br />11, 1981 meeting of the stockholders of the Paradox Valley Canal and Reservoir <br />Company with 6,554 shares of 8,600 shares being represented the Board <br />received a unanimous vote in favor of the Board of Directors being empowered <br />to borrow money for the repair, maintenance, and operation of the Buckeye <br />Reservoir as outlined in this report. <br /> <br />. <br /> <br />The Company has sent copies of this application <br />listed below for their information and comment. <br />letters are made a part of this report. <br /> <br />to officials and agencies <br />Copies of transmittal <br /> <br />Division of Wildlife <br />U.S. Forest Service <br /> <br />San Miguel Soil Conservation District <br />U.S.D.A. Soil Conservation Service <br /> <br /> <br />BP/sh <br />