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<br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1313 Sherman Street <br />Denver, Colorado 80203 <br />Phone, 13031866-3441 <br />FAX, 13031866-4474 <br /> <br />STATE OF COLORA..DO <br /> <br />. <br /> <br />MEMORANDUM <br /> <br />BiIlOwells <br />Governor <br /> <br />CregE. Walcher <br />Executive Direa.or. ONR <br /> <br />Peter H. Evans <br />Director, eweB <br /> <br />TO: Colorado Water Conservation Board Members <br /> <br />FROM: Mike Serlet, P.E., Chief, Water Supply Planning and Finance Section fl/J <br />DATE: November 16, 1999 <br /> <br />SUBJECT: Agenda Item lla - November 22-23, 1999, Board Meeting <br />Water Supply Planning and Finance - Changes in Existing Loans <br />San Luis Valley Irrigation District - Loan Payment Deferral Request <br /> <br />Introduction <br /> <br />By letter to Peter Evans dated September 24, 1999 (see attachment), the Board of <br />, Directors of the San Luis Valley Irrigation District have requested a deferment of two of <br />their CWCB Construction Fund loans. One contract loan payment is due in December <br />for the amount of$30,660.37 and the other is due in August for $30,014.20. The purpose <br />for this request is to help offset the District's fmancial difficulty due to $175,000 in <br />repairs to the Rio Grande Reservoir dam outlet works over the past two years. <br /> <br />Backe:round <br /> <br />The San Luis Valley Irrigation District owns and operates the Rio Grande <br />Reservoir located approximately 25 miles west of Creede in Hinsdale County (see <br />attached map). The Reservoir is the only Rio Grande mainstem reservoir in Colorado <br />and controls approximately 25% of the Rio Grande's flow above the Del Norte gage. <br />The reservoir is considered a pre-Compact reservoir under the Rio Grande Compact due <br />to its construction in the early 1900s. This status provides a tool that can be used at times <br />to benefit water users diverting from the Rio Grande and to aid the State of Colorado in <br />meeting me Rio Grande's separate Compact obligations_ The Reservoir inflows typically <br />must be passed to satisfy downstream demand unless the Reservoir storage decrees are in <br />priority. Its safe and prudent operation is therefore critical for water rights and Compact <br />administration. 11 <br />