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<br />Colorado Water Conservation Board <br />Department of Natural Resources <br /> <br />721 Scare Centennial Building <br />1313 Sherman Street <br />Denver. Colorado 80203 <br />Phone (303) 866-3441 <br />FAX (303) 866-4474 <br /> <br />STATE OF COLORADO <br /> <br />. <br /> <br />., . <br /> <br />Roy Romer <br />Governor <br /> <br />Jam:=s S. Lochhead <br />Executive Di1ect:or. DNR <br /> <br />February 13, 1996 <br /> <br />Daries C. lile. P.E <br />Director. CWCB <br /> <br />Town of New Castle <br />c/o Mr. Steve Rippy, Mayor <br />PO Box 90 <br />New Castle, CO 81647 <br /> <br />RE: Rehabilitate Raw Water Pipeline <br />Loan Recommendation <br /> <br />Dear Mayor Rippy, <br /> <br />Concerning your application for a loan from the Construction Fund, I arn pleased to inform you <br />the Colorado Water Conservation Board (CWCB) has decided to recommend your request for <br />$266,250 to the General Assembly for consideration in the annual Construction Fund Bill. It is <br />our understanding these funds will be used to rehabilitate the Town's raw water pipeline. <br /> <br />The CWCB approved a loan term of 30 years at an interest rate of 5.25%. I have attached a <br />copy of the updated Board memo concerning the Town of New Castle. Please refer to page 3 <br />of that memo and to the section "Action Taken by the CWCB, January 24,1995". <br /> <br />The Board approved the loan subject to several conditions: <br /> <br />a. You must adhere to the CWCB Guidelines for Financial Assistance. A copy of <br />our guidelines has been provided to you. <br /> <br />b. The draft Feasibility Study must be completed. The draft study is being reviewed <br />by John Van Sciver of this office (303-866-3441). John will assist you with any <br />needed revisions to the study so that the content of the report is in compliance <br />with the Guidelines and statutory requirements. <br /> <br />c. An approved contract must be in place before the construction work can proceed. <br />Jan Illian of this office (303-866-3441) will contact you to initiate the contracting <br />procedure. It usually takes 3 to 6 months to complete contracting. No CWCB <br />funds can be disbursed until the Construction Fund Bill has been signed by the <br />Governor, and your loan contact has been signed by all parties. <br />