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<br />J t:L /[ ...L, <br /> <br />STATE CL' COLORADO <br />._-----_._-------~~.~--------- <br /> <br /> <br />Q <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: 13031 B6&.J441 <br />FAX, (3031 866.4474 <br />www.cwcb.state.co.us <br /> <br />Bill Owens <br />Covernl1r <br /> <br />February 5, 2001 <br /> <br />GregE.Wak:nef <br />Executive Director <br />Rod Kuharich <br />eWeB Directur <br />Dilr.McAuhffe <br />Deputy Director <br /> <br />Mr, Fred Walker, Pres',dent <br />Tunnel Water Company <br />P,O. Box 1584 <br />Fort Collins, CO 80522 <br /> <br />RE: Rehabilitation of Laramie-Poudre Tunnel <br />Loan Recommendation <br /> <br />Dear Fred, <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (CWCB) has <br />recommended your loan to the General Assembly for approval. Your loan request will be <br />included in the Board's year 2001 Water Project Construction Bill. Loan funds will be <br />authorized in May 2001, once the Governor has signed the bill, 1 understand the loan will <br />be used to rehabilitate the Laramie-Poudre Tunnel. <br /> <br />The Board approved a Loan from the Construction Fund in a maximum amount of <br />$2,080,000, You may select loan terms of 4,3% for 30 years, 4,05% for 20 years, or 3,8% <br />for 10 years at your option, (Please note the 20-year and 10-year terms were incorrectly <br />stated as 3,8% and 3,3% in the Board memo, and should have been 4,05% and 3,8%, <br />respectively, This reflects Board policy of allowing a ,25% reduction in rate for each 10- <br />year reduction in loan term,) I have attached a copy of the updated Board memo <br />concerning the Tunnel Water Company, Please refer to page 5 of that memo and to the <br />section "Action taken by the CWCB January 24, 2001," <br /> <br />When the Board recommends a Construction Fund Loan there remain several conditions: <br /> <br />a) A Feasibilitv Study is required, John Van Sciver has completed the study, with input <br />from you and from your engineer. Copies are now being made, and one will be sent to <br />you for your records, <br /> <br />b) An approved contract must be in place before funds can be advanced for this loan, <br />Jan IlIian has placed this project on our contracting "hot list" and has initiated the loan <br />contracting process. Our goal is to have the loan contract signed by all parties, as <br />soon as possible following approval by the General Assembly, <br /> <br />F\~d Protection . W~He( Project Pfan~.il'l~ and Financing. Stream and lake Prote~ion <br />Water Supply Pi'.otectjo~ . .Conservation Planning' <br /> <br />".- <br />