Laserfiche WebLink
<br />~/ ~ <br /> <br />. Colorado Water Conservation Board <br />Department of Natural Resources <br /> <br />721 State Centennial Building <br />1313 Sherman Street <br />Denver. Colorado 80203 <br />Phone (303) 866-3441 <br />FAX (303) 866-4474 <br /> <br />. ... <br />STATE OF COLORADO <br />- <br /> <br />Roy Romer <br />Governor <br /> <br />December 9, 1994 <br /> <br />James S, Lochhead <br />Executivr, Director. DNR <br />DanesC. Lile.P.E. <br />Director, CWCB <br /> <br />Mr. E, R. Gustafson <br />President <br />Windsor Canal and Res. Co. <br />P.O. Box 1206 <br />Eaton, CO 80513 <br /> <br />RE: Rehabilitation of Canal and Reservoir Structures <br />Initial Loan Approval <br /> <br />Dear Mr. Gustafson, <br /> <br />Concerning your application for a loan from the Construction Fund, 1 am pleased to inform you <br />that the Colorado Water Conservation Board (CWCB) has granted initial approval of your request <br />in the amount of $500,000 for the construction project. It is our understanding that the loan will <br />be used for canal lining and for rehabilitation of canal and reservoir structures. <br /> <br />The CWCB also approved a loan term of 30 years at an interest rate of 4.0%. I have attached <br />a copy of the updated Board memo concerning the Windsor Canal and Reservoir Company, <br />Please refer to page 3 of that memo and to the section "Action Taken by the CWCB, November <br />4, 1994". Your Construction loan will be considered by the State General Assembly as part of <br />the 1995 Construction Fund bill, with passage expected in May 1995. Funds will be available <br />about July 1, 1995, provided we can negotiate a contract by that date, <br /> <br />The Board has given their initial approval subject to several conditions: <br /> <br />a. The Feasibility Studv must be comoleted, The study should discuss the alternatives the <br />Company has considered, and state why the selected alternatives were chosen. The study <br />must also show that the Company can afford the annual loan payments to the CWCB, and <br />indicate where the funds will come from to make those payments, 1 have included a <br />general outline for feasibility studies and request that you contact Bill Green of this office <br />(866-3441), Bill can provide assistance and guidance, and will ultimately be reviewing <br />the study. <br /> <br />b. An aooroved contract must be in olace before the construction work can oroceed. Ms. <br />Jan Illian of this office will draft the contract, and can send you an advanced review copy <br />upon request. Final contract documents will be sent to you for signing after the <br />Construction Fund bill is signed by the Governor, about June I, 1995. Please contact Jan <br />(866- 3441) after February 1, 1995 to initiate the contracting process. <br />