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<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: D03} 866-3441 <br />FAX, (303) 866-4474 <br /> <br />STATE O.COLORADO <br />~ <br />~ <br /> <br />- <br /> <br />i' <br /> <br />Roy Romer <br />Governor <br /> <br />December 18, 1996 <br /> <br />J"mes s_ Lochhl'"d <br />Executive Dlrl:'Clor, Oi'lR <br />DilriesC lillO, PE <br />Direclor, (\VCB <br /> <br />Mr. John Fetcher <br />Upper Yampa Water Conservancy District <br />P.O. Box 880339 <br />Steamboat Springs. CO 80488-0339 <br /> <br />Re: Stagecoach Project Loan Rcquest <br />~htt <br />DearM~ J~ <br /> <br />I am pleased to inform you that, at the November 25, 1996 meeting of the Colorado Water <br />Conservation Board, the Board recommended a loan in an amount not to exceed two million <br />dollars for the purposc of retiring the Upper Yanlpa Water Conservancy District's remaining <br />obligation to the US Bureau of Reclamation under a contract dated July 23, 1987 for the <br />Stagecoach Project. The term of the loan will be for 20 years and the lending rate is 4.50 <br />percent. <br /> <br />The Board approved the loan subject to: <br /> <br />I. The condition that the Upper Yampa Water Conservancy District will utilize it's <br />own funds to pay, in full, the difference between the balance on the Bureau of <br />Reclamation loan and the amount loaned to the District from the Construction <br />Fund, and <br /> <br />2. All standard contracting provisions of the CWCB including a mutually acceptable <br />understanding between the District and the Board staff and the Attorney General's <br />Office on adequate security for the loan. <br /> <br />The authorization for the loan will be considered by the General Assembly as part of the 1997 <br />CWCB Construction Fund bill. If the bill is approved by the General assembly and signed by the <br />Governor, funds should be available in mid-1997, <br /> <br />An approved contract between the District and the CWCB must be executed before funds can be <br />disbursed. Please contact Jan Illian of my staff (at 303-866-3441) when you are ready to begin <br />the contracting process which may require three to four months. <br />