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<br />'I <br /> <br />. <br /> <br />STAT'OF COLORADO <br /> <br />o <br /> <br />. . <br />/ <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br /> <br />721 Stale Centennial Bwtding <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 15, 1995 <br /> <br />James S. Lx:hbead <br />Exc\::utive Director, DNR <br /> <br />Daries CllIe. P-E- <br />Director, CWCB <br /> <br />Mr. Paul 1. McDill, President <br />Morgan County Quality Water District <br />P,O, Box 1218 <br />Fort Morgan, Colorado 80701 <br /> <br />RE: Loan Application for SWSP Participation <br /> <br />Dear Mr. McDill: <br /> <br />I am pleased to inform you that at the January 25th meeting of the Colorado Water <br />Conservation Board (CWCB), the Board approved a Construction Fund loan of up to <br />$4,260,000 ( not to exceed 75% of actual project costs) for the Morgan County Quality Water <br />District to participate in the Southern . Water Supply Project and to construct additional <br />groundwater facilities in the San Arroyo Basin. The lending terms are 4.0 percent interest for <br />a repayment period of 30 years. . <br /> <br />The Board approved the loan subject to the following conditions: <br /> <br />(a) The CWCB will not provide funds for refinancing of existing District bonds. <br /> <br />(b) Loan approval shall be contingent upon satisfactory completion of the draft <br />feasibility study with a detailed analysis of at least one viable alternative to the <br />proposed project for the purpose of demonstrating the economic tradeoffs involved in <br />project selection. <br /> <br />(c) The District attempt to obtain financing for a portion of the project costs, as well as <br />refunding of existing bonds, through the Small Water Resources Projects Program of . <br />the Colorado Water Resources & Power Development Authority. <br /> <br />(d) The loan shall be contingent upon all standard contracting provisions of the <br />CWCB. <br /> <br />Please continue to coordinate with Bill Green on completion of the project feasibility study. <br /> <br />Your Construction Fund loan will be considered by the. State General Assembly as part of the <br />1995 CWCB Construction Fund bill with passage expected in May 1995. Funds should be <br />available about July I, 1995, assuming we are able to negotiate a contract by that date. <br />