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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />BEAVER PARK WATER, INC. <br /> <br />- <br /> <br />- -~---~-~-- - <br /> <br />- -- <br /> <br />Box 286 <br /> <br />/ <br /> <br />Penrose. Colorado 81240 <br /> <br />/ <br /> <br />Phone 784-4664 <br /> <br />RES 0 L UTI 0 N <br /> <br />WHEREAS a report entitled "Feasibility Study, Beaver Park <br />Irri9ation System - Repairs and Rehabilitation" has outlined a <br />series of needed repairs to the Beaver Park Irrigation System;.and <br /> <br />WHEREAS the cost of. the repairs over a three year construction <br />period is estimated at $629,500; and <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />WHEREAS the continuing inflation rate increases the repair <br />cost dramatically each year and it is deemed too expensive to wait <br />several years for the possibility of federal funding; <br /> <br />Now be it resolved that the Board of Directors of Beaver <br />Park Water, Inc. makes application to the Colorado Water Conservation <br />Board for a loan of $630,000 over a three year period, beginning in <br />19BO, from the Colorado Water Conservation Board Construction Fund to <br />make the indicated repairs and that the loan be repaid over a 3D-year <br />period at an interest rate of 3% per annum. <br /> <br />Approved this 14th <br /> <br />day of Auoust <br /> <br />1979. <br /> <br /> <br />~=:~ <br />