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<br />" <br /> <br />. <br /> <br />STAT~F COLOR.ADC <br />= <br /> <br />COLORADO WATER CONSERVATION BOARD <br />Department of Natural Resources <br />721 State Centennial Building <br />1313 Sherman Street <br />Denver, Colorado 80203 <br />Phone; (303) 666-3441 <br /> <br />June 3, 1988 <br /> <br />Rov komer <br />Governor <br />J. WillIam McDonald <br />Dlfector <br />David W. Walker <br />[)epulv Director <br /> <br />Dear <br /> <br />You have been notified of an opportunity to prepay your <br />loan(s) from the Bureau of Reclamation. Under SB 30, enacted <br />by the 1988 General Assembly (copy enclosed in relevant part), <br />the Colorado Water Conservation Board (CWCB) has been <br />authorized to provide loans for the prepayment financing which <br />you will need. <br /> <br />The Board has directed staff to negotiate loan agreements <br />with any interested entity. The amount of a loan from the CWCB <br />may be for up to the entire discounted repayment price set by <br />Reclamation. The interest rate is fixed by SB 30 at five <br />percent per annum. In order to sustain the Board's revolving <br />construction fund, the Board has decided that the annual <br />repayment level to the CWCB should remain at least as large as <br />your existing annual payments to Reclamation. The effect <br />should be a shortening of your repayment period relative to <br />what you now have with Reclamation. <br /> <br />We have had informal expressions of interest from many of <br />you. Since it appears that repayment of your Reclamation <br />loan(s) at the discounted price will be advantageous to most of <br />you, I encourage you to proceed with notification to <br />Reclamation of your intent before June 17, 1988, according to <br />tbe format provided to you by Reclamation. Please provide me <br />with a copy. If for some unforeseen reason you do not proceed <br />with prepayment, there is no penalty and the notification can <br />be withdrawn. <br /> <br />A loan from the CWCB will require a formal contract between <br />you and this agency. We are preparing a draft contract for <br />advance review and approval by the Attorney General's Office. <br />When approved, we will provide you with a copy for your review. <br /> <br />7l76E <br />