C153770 Approval Letter - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I I Colorado Water Conservation Board Department of Natural Resources 721 Centennial Building 1313 Sherman Street Denver, Colorado 80203 Phone: (303) 866-3441 fAX, (303) 866,4474 STATE OF COLORADO 8 Roy Romer Gal/ernol December 23, 1996 Ji'lmes S. Lochheild Executive Director, DNR DilriesC.lile, P.E Director, eWeB Mr. David V. Sanford, Secretary-Treasurer Summit Reservoir and Irrigation Company P.O. Box 127 Dolores, CO 81323 RE: Rehabilitation of Irrigation System Loan Recommendation Dear Mr. Sanford, Concerning your application for a loan from the Construction Fund, I am pleased to inform you the Colorado Water Conservation Board (CWCB) has decided to recommend your request for $600,000 to the General Assembly for consideration in the annual Construction Fund BilL It is our understanding these funds will be used to rehabilitate the Summit Reservoir and Irrigation Company system. The CWCB approved a loan term of 30 years at an interest rate of 3.75%, The CWCB also approved a grant in amount of$1360 to pay for a portion of the feasibility study, I have attached a copy of the updated Board memo concerning the Summit Reservoir and Irrigation Company. Please refer to page 3 of that memo and to the section "Action Taken by the CWCB, November 25,1996". When the Board recommends your loan request to be included in the Construction Fund Bill, there remain several conditions: a. The bill must be approved bv the General Assemblv and signed bv the Governor. This is usually accomplished around June 1st. b, You must adhere to the CWCB Guidelines for Financial Assistance. A copy of our guidelines has been provided to you, c. The Feasibilitv Studv must be completed. John Van Sciver will review your draft feasibility study. John will assist you with revisions to the study so that it complies with the Guidelines and statutory requirements.