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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />Mr. James W. Sutton, Secretary-Treasurer <br />Pine River Canal Company <br />February 5, 1999 <br /> <br />page 2 <br /> <br />c. You must adhere to the CWCB Design and Construction Administration Procedures. A <br />copy of our Guidelines has been provided to your engineer. Mike Serlet will contact <br />you regarding the CWCB requirements concerning design and bidding of the <br />construction project. During the construction process, he will make field inspections, <br />which will be the basis of the monthly pay estimates for disbursements of your loan <br />funds. Interest on partial payments during construction will be charged at 3.5-percent <br />simple interest until the project is declared substantially complete. <br /> <br />On behalf of the Board and the staff, I would like to thank you for applying for a Construction Fund <br />Loan from the Colorado Water Conservation Board. Please feel free to call us at 303-866-3441 if <br />you have any questions. <br /> <br />Sincerely, <br /> <br />William P. Stanton, P .E. <br />Chief, Project Planning and Construction Section <br /> <br />Attachment: Updated Memo: PineRiverl99memo <br /> <br />cc (w/Attachment): Ms. Janice Sheftel. Board Member ewes <br />ewes Section B Staff <br />Linda Bassi, AGO <br /> <br />,./ /I.' <br />L:\wctrans\secb\PineRivetCanaI1991tr rr t- <br />