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F C <br /> GALE A. NORTON STATE OF COLORADO STATE SERI'ICES BUILDING <br /> Attorney General 1525 Sherman Street - 5th Floor <br /> DEPARTMENT OF LAW Denver, Colorado 80203 <br /> STEPHEN K. ERKENBRACK Phone (303) 866-4500 <br /> Chief Deputy Attorney General OFFICE OF TILE ATTORNEY GENERAL FAX (303) 866-5691 <br /> Timon Y N1. TYNIKOVICII <br /> Solicitor General <br /> March 24 , 1994 <br /> James B. Holden <br /> 303 East 17th Avenue <br /> fi 930 <br /> Denver, Colorado P0203 <br /> RE: Outstanding issues of the Mid-Continent Resources liquida- <br /> tion plan <br /> Dear Jim: <br /> As we have discussed in prior conversation, there are still a few <br /> issues which need to be resolved concerning the liquidation plan <br /> prior to the confirmation hearing. I have spoken with the Mined <br /> Land Reclamation Board about these issues and the members agree <br /> that the following matters should be addressed: <br /> 1. Section 4 . 3 . 2 . (ii) involves credit to be given for work per- <br /> formed by M&E, and provides that as such work is performed, the <br /> costs set forth in the reclamation bond will be deducted from the <br /> funds received for reclamation. The Board wants to ensure that <br /> there is a limit to the credit to be given for the M&E work., a <br /> limit of a certain dollar amount. <br /> It is also important to the Board that any credit to be given <br /> should be conditioned on completion of the task as required by <br /> the reclamation plan. That is, the entire amount set *out in the <br /> reclamation bond for a certain task should not be subtracted from <br /> the amount to be disbursed for reclamation unless that task is <br /> completely done as required by the reclamation plan. <br /> 2 . Under section 6 . 2 . 1, the Creditor's Trustee is authorized to <br /> sell the mine site. Section 4 . 3 . 7 provides that nothing in the <br /> liquidation plan prohibits any buyer of the mine site from assum- <br /> ing the reclamation obligation with the consent of the Board. <br /> However, there is no provision that any sale of the site carry <br /> with it the requirement of reclamation. The plan should contain <br /> language that any sale of the site be subject to reclamation <br /> requirements, and that the Division and its agents and contrac- <br /> M-C 02584 <br />