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<br />'" <br /> <br />. <br /> <br />STATE Ok::OLORADO <br /> <br />e <br /> <br />, , <br />.' <br /> <br />Colorado Water Conservation Board <br /> <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 <br /> <br />Roy Romer <br />Governor <br /> <br />February 7, 1997 <br /> <br />James S. Lochhead <br />Executive Director, DNR <br /> <br />Daries C.lile, F'E. <br />Director, eWeB <br /> <br />Mr, Donald V, Johns, President <br />Horse Creek Water Users Association <br />c/o High Mesa Farm <br />4689 CR 2A <br />Rush, CO 80833 <br /> <br />RE: Purchase of Water Rights <br />Loan Recommendation <br /> <br />Dear Mr, Johns, <br /> <br />Concerning your application for a loan from the Construction Fund. 1 am pleased to inform you <br />the Colorado Water Conservation Board (CWeB) has decided to recommend your request for <br />$825,000 to the General Assembly for considenttion in the annual Construction Fund Bill. It is <br />our understanding these funds will be used to purchase water rights, and to pay the costs of <br />setting up and adjudicating an augmentation plan, <br /> <br />The CWCB approved a loan term of 40 years at an interest rate of 3%, The loan payment for <br />the first 5 years will be calculated based on a 2% interest rate, After 5 years, the loan payment <br />will increase so that the affective net return on the loan will be 3% over the 40 year term, I have <br />attached a copy of the updated Board memO concerning the Horse Creek Water Users <br />Association, Please refer to page 4 of that memo and to the section "Action Taken by the <br />CWCB, January 29,1997", <br /> <br />When the Board recommends your loan request to be included in the Construction Fund Bill, <br />there remain several conditions: <br /> <br />a, The bill must be approved bv the General Assemblv and signed bv the Governor. <br />This is usually accomplished around June 1st. <br /> <br />b, You must adhere to the CWCB Guidelines for Financial Assistance, A copy of our <br />guidelines has been provided to you, <br />