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<br />. <br /> <br />. <br /> <br />J. William McDonald, Director <br />June 24, 1988 <br />Page Four <br /> <br />power plant contains a similar provision but I point out that it has <br />not been executed and no one can be certain as to what the provisions <br />in that contract will be when it is finally signed. In addition, <br />the permanent contract refers to the fact that some major replacements <br />are required such as both penstocks. The cost to be paid by the <br />Association and the Orchard Mesa Irrigation District with respect <br />to the replacement of those penstocks is $255,000 each. provision <br />is made so that the power revenues can be used to defray those <br />costs but I merely mention this so that you can understand that <br />the use of power revenues is in a state of flux and will be for <br />an uncertain time in the future. <br /> <br />This letter may have extended further then you desire. I <br />would appreciate a phone call from you indicating your thoughts <br />as to how we could finalize this matter. <br /> <br />Yours very truly, <br /> <br />WILLIAMS I TURNER & HOLMES I P .'C. <br /> <br /> <br />/:4'-'V,/!(/ ~)~4~ <br /> <br />W. Williams <br /> <br />AWW/sr <br />Enclosures <br /> <br />xc: Grand Valley Water Users <br />