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<br />. <br /> <br />. <br /> <br /> <br />.. <br /> <br />COLORADO DIVISION OF PARKS AND OUTDOOR RECREATION <br /> <br />Jackson Lake Lease <br />TOPIC <br /> <br />xx <br /> <br />ACTION <br />ITEM <br /> <br />Paul Flack <br />P1Ut.PAREJ) BY <br /> <br />INFORMATION <br />ITEM <br /> <br />8-13-01 <br />J>An <br /> <br />DRAFT <br />COPY <br /> <br />L-FINAL <br />COpy <br /> <br />(1.) PURPOSE: To obtain the approval ofthe Parks Board regarding the final Jackson Lake <br />State Park dam repair loan COI.tract between the Colorado Water Conservation Board <br />(eWeB), Colorado State Parks and the Jackson Lake Reservoir and Irrigation Company <br />(IrrigatiOll C,?mpany). " ' <br /> <br />(II.) BACKGROUND INFORMATION: As !l result of the January 2001 Parks Board <br />infonnation item (please see attachment 1), the Board has been fully briefed of the <br />ongoing negotiations between the eWeB and the Inigation Company to fmalize a three- <br />way agreement for the coD.Structionloan to repair the dam at Jackson Lake. <br /> <br />(Ill.) DISCUSSION AND SUMMARY: In April of 2000, the Parks Board took action to <br />enter into the three-way agreement based on a. Glerta.in set of terms and conditions (please <br />see attachment 2). However, some of the speoific terms of the agreement have changed <br />as a result of further negotiations. Whereas the overall net affect to Parks remains the <br />same, the specific terms outlined in the April 2000 Action Item were revised as outlinl'd <br />in the January 2001 Information Item The most notable changes are: <br />1_ The loan payment is now $1.7 million instead of $1.4 million; <br />2. The CWCB loan rate has been lowered from 2% to 0%. <br />The redu~tlon in the interest rate of the loan offsets the inCrElllSe in the loan amount, <br />therefore, the ,repayment schedule for the 30 year loan remains the same. Again, aU of the <br />changes that were discussed with the Board in Executive Session. during the Janaury 2001 <br />Board meeting are still in affect. <br /> <br />(IV.) DlVISJ:ON 1U;COMMENDATION: It is the recommendation of thlil Parks staff to <br />adopt and approve the d1anges that are described in the Januaty 2001 Information Item <br />aJ:Jd reiterated in this Board Action Item. furthermore, the Board is asked to approve the <br />final loan agreement between the three parties. <br /> <br />(V.) SUGGESTED MOTTON: "J mOVe the Park. BOOJ'd approve the entry into a contrael <br />with eWCR and the Jack!'on Lake Reservoir and Irrigation CompanY]J1.lrsUGl'l1 to the <br />terms a/'1d conditions outlined abGfJe." <br /> <br />~A <br /> <br />APPROVED FOR SUll <br /> <br />AL TO nlE PARkS nOAR>> <br /> <br />?~~-C:;/ <br /> <br />t>ATE <br /> <br /> <br />Appendix 6 to Loan Contract C150063 <br />