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,. <br />qPR-20-1995 15 16 FROM TO 98328106 P.02 <br />~~I ~I~~I~~I~~~~~~I~ <br />sss <br />STATE OF COLOR.A.DO <br />CAPrfOL COMPLEX FACILITIES <br />Ueparunml of Administration <br />1341 Shtxnwt Street <br />Denver, CO 80203 <br />Phone (303) 866357 (VOICE 8 T.D.D.) <br />FAX (303) 866367 <br />~ Of C <br />ti.: <br />.•. ~~ <br />rstc' <br />Rov Ramer <br />Cmemor <br />Mdt! Pctti~c+~ <br />Evati.~e Dittxmr <br />April 20, 1995 <br />Ms. Margaret VanCleef <br />Minerals and Geology, DONR <br />1313 Sherman Rm 215 <br />Denver, CO. 80203 <br />Dear Maggie <br />Diw Mattox <br />Dirtemr <br />As a result of a request by Mr. Preston Meese to place the retainage being held by <br />the State in an interest bearing account until his appeal can be resolved, we both <br />were informed that there was no provision in the State Statutes to allow for this at <br />this time. It was my understanding, that your source had told you that there was <br />no such option, while in my case I was informed by Phil Holtman of Accounting, <br />that in accordance with Section 24 Article 91 of the Statutes the intent of such an <br />arrangement could have been accomplished up front via an Escrow Agreement. It <br />was also my understanding that Mr. Meese could have established a security in lieu <br />of having monies held against each pay request. This escrow could consist of <br />several different types of securities, which could be interest bearing. Any interest <br />gained would become the property of the contractor upon satisfactory completion <br />of the project (see 24-91-107). <br />As a follow up, I called Mr. Meese to inform him that I was not able to find any <br />statue that would allow him to place the retainage in an interest bearing account at <br />this time. I also asked that if he should have anything to the contrary that he <br />please forward that to me. In response he faxed me a copy of the first few pages <br />of Article 91, which is the same information from which Mr. Holtman drew his <br />conclusions. In further reveiw of Statue 24-91-106 I have to ask where it is stated <br />that the establishment of an escrow fund must take place at a particular time. <br />In view of the fact that we have determined that a provision does exist that would <br />have allowed for monies to be placed in an interest bearing account in lieu of <br />retainage, I am asking that you revisit this issue and develop a response as quickly <br />as possible. We also need to be clear at what point this can be done and ultimately <br />we need to be clear on whether or not Mr. Meese's has a valid request. We have <br />already had inquires from Senator Tillie Bishop with regards to the appeal and the <br />Partners Praviding Quality Service for Better C,ovtrnment <br />