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<br />I - <br /> <br />Colorado Water. Conservation Board <br />Department of Natural Resources <br />721 Centennial Building <br />1313 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (3031 866-3441 <br />FAX: 13031866-4474 <br /> <br />STATE C.l:: COLORI\DO <br />~ <br />~ <br /> <br />Roy Romer <br />GovernOI <br /> <br />December 30, 1997 <br /> <br />lames S. Lochhead <br />Executive Direoor, DNR <br />Oaries C. liJe, PE <br />Direoor, eweB <br /> <br />Mr. Ralph Mullinix <br />Director of Water & Power <br />City of Loveland <br />200 North Wilson, Bldg. #1 <br />Loveland, CO 80537 <br /> <br />Re: Loan for Green Ridge Glade Reservoir Enlargement <br /> <br />Dear Mr. Mullinix: <br /> <br />I am pleased to inform you that at the November 24, 1997 meeting of the Colorado Water <br />Conservation Board, the Board recommended a loan of $2,000,000 to the City of Loveland or its <br />enterprise for the design and construction of the Green Ridge Glade Reservoir Enlargement <br />Project. The term of the loan is for up to ten years and the lending rate is 4.75 percent. <br /> <br />The Board's action on the $2,000,000 loan request will be included in the 1998 CWCB <br />legislation and is subject to authorization by the General Assembly. If authorized by the General <br />Assembly, the proceeds for this loan should be available in mid-1998. <br /> <br />As security for the loan, it is expected that the City will pledge water fund revenues at parity with <br />any other lenders and such other collateral as may be deemed acceptable by the Director of the <br />CWCB. <br /> <br />Please coordinate with Jan Illian of this office on all matters related to contracting. She will be <br />responsible for drafting and processing of contract documents. No funds may be disbursed until <br />a fully executed contract is in place. <br /> <br />Mike Serlet of this office will be responsible for reviewing the project plans and specifications <br />and for all matters related to project construction including approval of design and construction <br />payments. Please contact him before beginning design work on the project. <br /> <br />You may also want to refer to Section 5.0 and Appendices E, F and G of the Guidelines for <br />Financial Assistance through the Colorado Water Conservation Board Construction Fund for <br />information relating to design and construction administration ofCWCB-funded projects. Please <br />let us know if you need a copy of the Guidelines. <br />