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<br />'....,... <br /> <br />EXHIBIT C <br /> <br />COLORADO WATER CONSERVATION BOARD <br />Department of Natural Resources <br />721 State Centennial Building <br />13'3 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br /> <br />STATE OF COLORADO <br />~ <br /> <br />MEMORANDUM <br /> <br />Roy Romer <br />Governor <br />J. William McDonald <br />Director <br />David W. Walker <br />Deputy Director <br /> <br />TO: File (Highland Lake Lateral) <br />~~:~FROM:_ Keith Eberhardt <br /> <br />DATE: March 14, 1988 <br /> <br />SUBJECT: Inflation increases for construction project <br /> <br />In 1980 the Legislature appropriated $1,200,000 for <br />rehabilitation work for the Highland Lake Lateral and Farmers <br />Extension Ditch Co. The Farmers 1/2 share of the cost of the <br />project was to come from Federal Agricultural Stabilization and <br />Soil Conservation funds. These Federal funds were committed on <br />an availability basis of so much each year. The first funds <br />committed was $150,000 in 1981 and every year thereafter in <br />some amount until the $1,200,000 was finally reached in 1986. <br />In order to figure the amount of increase due to inflation the <br />contracts must be figured separately in the year of spending. <br /> <br />The Engineering-News-Record (ENR) Construction Cost Index <br />which is an industry standard dating back to 1913 was used to <br />figure the amount the appropriate moneys should be increased. <br /> <br />The January 1980 (ENR) index was 3132, the index increased <br />each year as follows. There are some glitches, 1986 money was <br />not available until February 1987. <br /> <br />Using the ENR index the $1,200,000 could be logically <br />increased by $364,600 by February 1987. <br /> <br />/mla <br /> <br />EXHIBIT C <br /> <br />6406E <br />