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<br />. <br /> <br />. <br /> <br />cweB <br />APR 1 ~ 1991 <br /> <br />~- ~ <br /> <br />Lloyd Ranch Limited Partnership <br />3216 East Spruce Street <br />Seattle, Washington 98122 <br />Phone: (206) 323-7957 <br />Fax: (206) 325-9359 <br /> <br />April 15, 1991 <br /> <br />Mr. Frank Akers <br />Colorado Water Conservancy Board <br />823 State Centennial Building <br />1313 Sherman Street <br />Denver, Colorado 80203 <br /> <br />Dear Mr. Akers: <br /> <br />This letter is in response to your letter of April 1, <br />1991 wherein you raised certain questions pertaining to the <br />partnership and a water diversion right. I believe that the <br />issues you are now raising have already been adequately <br />addressed in discussions between myself and Mr. Raber and <br />your staff, but let me take this time to specifically answer <br />each of your questions. <br /> <br />In response to the first two questions, it is not the <br />"intent" of the partnership to section off the property and <br />begin selling parcels of land. Since our purchase of the <br />property, it has been our objective to improve the land and <br />water rights and to investigate potential uses for this <br />large tract of land. We have looked at the feasibility of <br />developing parts of the property and will continue to do so <br />in the future. In the near term we anticipate that we will <br />continue to run cattle and develop hunting rights and other <br />recreational uses of the property. It is highly unlikely <br />that we would be willing to sever any of the water rights <br />from the property. <br /> <br />I do not believe it is within the purview of the board <br />to restrict or encumber an applicants use of its property. <br />If the board's concern is that we are applying for the loan <br />so that we can repair the reservoirs and then sell the water <br />rights, I can assure them that this is not our intention. <br />The reservoirs are an integral part of the Lloyd property's <br />value, and how or for what purpose(s) we put this water <br />right to a "beneficial use" is an economic decision which <br />will change over time. <br /> <br />As has already discussed with your staff, we would be <br />willing to secure the loan with a portion of the property. <br />We would not, however, be willing to make a condition of the <br />loan, full repayment upon the sale or change of use of any <br />partes) of the property. <br />