1997-02-24_GENERAL DOCUMENTS - M1977493

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�TaT� nF COLOMDO t III I II I II I II IIII III �lorado Water Conservation Board Department of Natural Resources sss ;, 721 Centennial Building 1313 Sherman Street Denver,Colorado 80203 Phone:(303)866-3441 G'/7 ,_ 3 FAX:(303)866-4474 JJJ��r�" L s Roy Romer Governor February 24, 1997 James S.Lochhead Executive Director,DNR Danes C.Lile,PE Mr. Glenn Porzak Director,CWCB Porzak Browning&Johnson 1300 Walnut St Suite 100 Boulder CO 80302 ReEagle Park Reservoir Project Dear Mr. Pa�c I am pleased to inform you that at the January 29, 1997 meeting of the Colorado Water Conservation Board, the Board approved a total of$8,000,000 in Construction Fund lending for the Eagle Park Reservoir Project. The Board's action includes final approval of the$3,125,000 funding request made in 1996 as well as a recommendation to the General Assembly for an additional $4,875,000 in 1997. For the $3,125,000 funding increment, the lending rate is 5.75 percent and for the remaining$4,875,000 the rate is 5.25 percent. The term for both components of the loan is thirty years. The Board's action will be included in the 1997 Construction Fund legislation and is subject to authorization by the General Assembly. If authorized by the General Assembly, we should be able to begin drafting a loan contract with the Eagle Park Reservoir Company in mid-1997. The following conditions must be met prior to the time we can enter into a contract with the Eagle Park Reservoir Company: f/1. The loan applicants will withdraw their opposition and will consent to the decree negotiated in Division 5, Case No. 92CW286. The applicants and the staff of the Colorado Water Conservation Board will reach a mutually acceptable agreement concerning the applicants' water rights exchange application in Division 5, Case No. 95CW348. 6/ /The reclamation of the Eagle Park Reservoir site will be certified as acceptable by the Colorado Division of Minerals and Geology and water from Eagle Park Reservoir will meet all applicable water quality, health, safety, and environmental standards at the point of delivery of such water into the East Fork of the Eagle River.