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CMcooolSTATE Q' COLORADO <br />Colorado Water Conservation Board EEXHIEBIT <br />Department of Natural Resources <br />721 Centennial Building , <br />1313 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (303) 866.3441 <br />FAX: (303) 866-4474 Roy Romer <br />February 24, 1997 <br />Mr. Glenn Porzak <br />Porzak Browning & Johnson <br />1300 Walnut St Suite 100 <br />Boulder CO 80302 ' <br />Re: Eagle Park Reservoir Project <br />Dear Mr <br />Governor <br />James 5. Lachhead <br />Executive Director, DNR <br />Daries C. Lile, P.E. <br />Director, CWCB <br />I am pleased to inform you that at the January 29, 1997 meeting of the Colorado Water <br />Conservation Board, the Board approved a total of $8,000,000 in Construction Fund <br />lending for the Eagle Park Reservoir Project. The Board's action includes final approval <br />of the $3,125,000 funding request made in 1996 as well as a recommendation to the <br />General Assembly for an additional $4,875,000 in 1997. <br />For the $3,125,000 funding increment, the lending rate is 5.75 percent and for the <br />remaining $4,875,000 the rate is 5.25 percent. The term for both components of the loan <br />is thirty years. <br />The Board's action will be included in the'1997 Construction Fund legislation and is <br />subject to authorization by the General Assembly. If authorized by the General <br />Assembly, we should be able to begin drafting a loan contract with the Eagle Park <br />Reservoir Company.in mid-1997. <br />The following. conditions must be met prior to the time we can enter into a contract with <br />the Eagle Park Reservoir Company: <br />1. The loan applicants will withdraw their opposition and will consent to the decree <br />. negotiated in Division 5, Case No. 92CW286. <br />2. The applicants and the staff of the Colorado Water Conservation Board will reach a <br />mutually acceptable agreement concerning the applicants' water rights exchange <br />application in Division 5, Case No. 95CW348. <br />3. The reclamation of the Eagle Park Reservoir site will be certified as acceptable by the. <br />Colorado Division of Minerals and Geology and water from Eagle Park Reservoir <br />will meet all applicable water quality, health, safety., and environmental standards at <br />the point of delivery of such water into the East Fork of the Eagle River. <br />I 11111i 1111i IIIIIII IIII 1111111111111111111111111111 IN <br />666203 08/17/1998 03:10P 23 Sara Fisher <br />19 of 112 R 561.00 D 0.00 N 0.00 Eagle CO <br />r w- <br />f0 4 e <br />o tan <br />"W <br />itttttEM <br />O.A i? <br />to OD <br />r ID <br />• m? <br />C7 W= <br />MRS- <br />6a_ <br />zfnaaa? <br />aU? <br />C9 W? <br />;r V ter <br />a =mom <br />A = <br />O <br />C ae. <br />C) <br />is