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<br />co <br />~ <br />.-.j <br /> <br />. <br /> <br />. <br /> <br />o <br /> <br />Agenda Item 8 <br />January 9. 1990 <br /> <br />(1) The agreement would be entered into during federal FY <br />1990. It would encumber the entire $5.6 million. <br />thereby insuring Reclamation that the money would be <br />ava Hable. <br /> <br />Agreed to. See article 3(a). <br /> <br />(2) Modest payments would be made by the Board to <br />Reclamation commencing in federal FY 1991 even though <br />this would precede the start of actual physical <br />construction on the Ridges Basin Dam. <br /> <br />Reclamation countered the Board's proposal by seeking <br />to have payments commence in FY 1990. The Board <br />agreed to this at its November meeting. $100,000 per <br />quarter will be paid by the Board until the award of <br />the first construction contract for Ridges Basin Dam. <br />See articles 6(a) and (b). <br /> <br />(3) No principle had been articulated by the Board for the <br />items discussed herein. <br /> <br />At my request. the Board's obligation to make the <br />$100.000 per quarter payments for FY 1991 and <br />subsequent years have been made contingent on a number <br />of different conditions. Items (3). (4). and (5) of <br />article 6(b) were included in the draft agreement <br />presented to the Board at the November meeting and <br />were approved by the Board at that time. <br /> <br />FOllowing the November meeting, I sought two <br />additional conditions which now appear as items (1) <br />and (2) of article 6(b). Reclamatiorihas agreed to <br />these additional conditions. <br /> <br />(4) When physical construction activities commence. <br />payments toward each year's construction costs would <br />be made by the Board in the same ratio as the $5.6 <br />million bears to the projected total construction cost <br />of the Ridges Basin Dam. <br /> <br />Agreed to. See article 6(c). <br /> <br />(5) Should the Colorado Division of Wildlife and The <br />Nature Conservancy (TNC) reach, a negotiated settlement <br />concerning the reverter interest in the Bodo property. <br />the contract would provide that the Board could pay <br />TNC out of its funds and receive credit for such an <br /> <br />-2- <br />