1996-11-12_GENERAL DOCUMENTS - C1981017

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Ms . Deborah Quinn November 6 , 1996 Page - 2 The other outstanding schedule, as I understand, is number 4062 on which I understand the County claims taxes owed of $260 , 278 . 37. This schedule is also subject to audit adjustments . The description on the tax notice for 1990 was "personal/coal mining coal mining machinery & equipt . etc . Pitkin County, Colorado" . It is important to note that following direction of the State, the Assessor, under Schedule No. 7863 , assessed the assets used or connected with the mining operation, including coal produced during the preceding year under a complicated formula, and including leasehold interests from which that coal was produced. Ownership of the mineral estate was severed before the mining operation began from ownership of the surface . Assessments were made recognizing this separation. Schedule 7944 assessed the "surface only" , in Sec . 20, 21, 22 , 23 , 24 , 25 and 36 T. 10 S . , R. 89 W. , 6th P.M. Schedule 7948 also recognized the severance and described "surface only" in Sec . 5 , 6 , 8 , 18 , 31, 32 T. 10 S . , R. 89 W. , 6th P.M. These "surface only" assessments cover the land transferred to the Forest Service by exchange, including the Telluride transaction, on which the proceeds were escrowed. The Preparation Plant property was also separately assessed under Schedule 7864 describing land in "Sections 10 , 11, 14 , 15 T. 10 S . , R. 89 W. The additional Preparation Plant property (the Sutey Property) was separately assessed under Schedule 2487 . When the exchange sales occurred, the Treasurer properly computed the "surface only" taxes assessed on the schedules relating to those properties, and upon receiving payment issued Redemption Certificates =n order that title could be cleared to go to the United States . This same procedure was