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<br />CIf;)O/Lf.5 <br /> <br />FI IE. <br /> <br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX: (303) 866-4474 <br />www.cwcb.state.co.us <br /> <br /> <br />Bill Owens <br />Governor <br /> <br />May 28, 2003 <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />Rod Kuharich <br />eWeB Director <br /> <br />Dan McAuliffe <br />Deputv Director <br /> <br />Mr. Leon Fritzler, President <br />Springdale Ditch Company <br />P.O. Box 109 <br />Sterling, CO 80751 <br /> <br />RE: Augmentation Project <br />Loan Approval <br /> <br />Dear Mr. Fritzler, <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (CWCB) has <br />approved your request for a Small Project Loan from the Construction Fund. I understand <br />the loan will be used to construct a well augmentation project. <br /> <br />The Board approved a loan from the Construction Fund in a maximum amount of <br />$121,500 at the loan terms of 2.75% for 30 years, or 2.5% for 20 years, at your option. <br />The approval includes the provision for a 1 % ($1,215) loan service charge, which may be <br />paid at closing, or financed into the loan. I have attached a copy of the updated Board <br />memo concerning the Springdale Ditch Company. Please refer to page 4 of that memo <br />and to the section "Action taken by the CWCB May 20, 2003." <br /> <br />When the Board approves a Small Project Loan from the Construction Fund there remain <br />several conditions: <br /> <br />a) A Feilllihility Study ill required We have reviewed the May 2003 study titled <br />"Feasibility of Construction of the Springdale Ditch Company Augmentation <br />Project" by Brent Nation, P.E., of Nation Engineering Services, Inc. The report <br />meets the requirements of the CWCB Construction Fund Guidelines for feasibility <br />studies, and has been accepted. <br />