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<br />. <br /> <br />. <br /> <br />..-l <br />~ <br />- <br /> <br />,- <br />'- <br /> <br />Agenda Item 18 <br />September 20, 1989 <br /> <br />o <br /> <br />is something which is clearly contemplated by the <br />June. 1986. Binding Agreement for Cost-Sharing. <br /> <br />(4) Should the Division of Wildlife and TNC still reach a <br />negotiated settlement concerning the reverter <br />interest, the contract would provide that if the Board <br />paid TNC out of its funds, then full credit for such <br />an expenditure would be received as if the money had <br />been paid to Reclamation. <br /> <br />(5) Appropriate accounting procedures would be required. <br /> <br />(6) The State would receive a credit should the property <br />for the Durango pumping plant, which is owned by the <br />Department of Health. ultimately be transferred at no <br />cost to Reclamation for the Animas-La Plata project. <br />I have explored this concept with the Department and <br />Reclamation and it is tentatively acceptable to them. <br />Should this come to pass. the Board would pay <br />Reclamation something less than $5.6 million. <br /> <br />(7) All interest earnings on the $5.6 million which accrue <br />while that money is in the State Treasurer's portfolio <br />would inure to the sole benefit of the Board. not <br />Reclamation. <br /> <br />Recommendation <br /> <br />I recommend that the Board authorize me to proceed with <br />negotiations with Reclamation based upon the above principles, <br />with the final terms and conditions of any contract being <br />subject to the Board's approval at a subsequent meeting. <br /> <br />JWM/bj <br />Enclosure: as stated <br />cc: uli Kappus <br />Fred Kroeger <br />John Murphy <br />Sam Maynes <br />Leonard Burch <br />Ernest House <br />Scott McElroy <br />Dan Israel <br />Ray Kogovsek <br />Wayne Cook <br />Max Stodolski <br />Ival Goslin <br /> <br />JWM/gl/bj <br /> <br />-3- <br />