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<br />"" . ."'ij <br /> <br />C.r~cL~ <br /> <br /><:J["'~ <br /> <br />SUMMIT RESERVOIR AND IRRIGATION COMPANY <br />P. O. Box 127 Dolores. Color; ~ . ,.};i.23 <br />,,".~?;'}.J-~:. '_,:,'}.'.' <br />. v .[j,. ''''''.' <br />Mr. Daries C. Li Ie, Director . RrCEI'ifu 'N.oyember 13, 1993 _.~ <br />Colorado Water Conserv~tlon Board ~ Novl'l 1993 .t.'.5tf..~ ""n" -'~I <br />721 State Centennial BUilding . ClNr'p ~:~"1!r<v_:_y;t-t \ <br />Denver, Colorado 80203 ?; - '-".Ji\; /r~~'-.--J:~~C':"'. 1.-3,\ <br /> <br />\rF~<("-.-'~'- \\ <br />i" I \ \1 <br />Dear Chuck, tW -=_o~..___J\ <br /> <br />It has been five months since our Board of Directors met with John Van <br />Sciver and appl ied for an emergency loan. We received your letter of <br />commitment dated July 28. Although that letter gave no specific date we <br />could expect the money, we were led to believe it would be available about <br />October 1. That date has come and gone. We have completed both our <br />projects and need to pay the contractors. We are very unhappy with CWCB as <br />we were confident you would come through with the emergency funds We <br />were especially confident because we have an existing loan with you. <br /> <br /> <br />I spoke with John Van Sciver last Friday and from that conversation it is <br />apparent that we will not be getting the money anytime soon. He mentioned <br />possibly by December first. We cannot wait that long to pay our bills so are <br />forced to go to our local bank for a loan. <br /> <br />Chuck, we think you should get on top of this situation and streamline <br />your emergency loan process. At the least you could stop call ing it an <br />emergency loan. From what I understand you have recently approved 15 <br />additional loans like ours. If our experience is typical, you are going to get <br />a lot more letters. <br /> <br />We feel the CWCB is a good organization and your construction program <br />serves a very useful purpose to small companies like ours. But, it you <br />cannot process loans in a timely manner maybe you should not be in the <br />business. Might underwriting ioans through local banks be a solution? <br /> <br />Piease let us hear from YOIJ soon. <br /> <br />CC" ..\cM^'-'- .rULe \ <br /> <br />SlnCwJ~ <br /> <br />ri:fd V. Sanford <br />Secretary-Treasurer <br /> <br />1U- <br /> <br />C/. . i <br />\ -' I - <br />