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<br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br /> <br />721 Centennial Building <br />131 3 Sherman Street <br />Denver, Colorado B0203 <br />Phone: (303) 866-3441 <br />FAX: (303) 866-4474 <br /> <br />, ~;;'7 f:'f?J Jd [ ~ <br />STATE OF COLORADO <br /> <br />S <br /> <br />Roy Romer <br />Governor <br /> <br />February 10, 1997 <br /> <br />lames 5, Lochhead <br />Executive Director, DNR <br /> <br />Daries C. Lite. P.E, <br />Director, CWCB <br /> <br />Mr. Harvey L. Smalley, President <br />San Luis Valley Canal Company <br />902 Weber Drive <br />Alamosa, CO 81101 <br /> <br />RE: Reconstruction of Check Structure <br />Loan Recommendation <br /> <br />Dear Mr. Smalley, <br /> <br />Concerning your application for a loan from the Construction Fund, I am pleased to inform you <br />the Colorado Water Conservation Board (CWCB) has decided to recommend your request for <br />$188,000 to the General Assembly for consideration in the annual Construction Fund Bill. It is <br />our understanding these funds will be used to reconstruct a concrete check structure on the canal. <br /> <br />The CWCB approved a loan term of 30 years at an interest rate of 3.75%. I have attached a <br />copy of the updated Board memo concerning the San Luis Valley Canal Company. Please refer <br />to page 3 of that memo and to the section "Action Taken by the CWCB, January 29,1997". <br /> <br />When the Board recommends your loan request to be included in the Construction Fund Bill, <br />there remain several conditions: <br /> <br />a. The bill must be approved by the General Assembly and signed by the Governor. <br />This is usually accomplished around June 1 s1. <br /> <br />b. You must adhere to the CWCB Guidelines for Financial Assistance. A copy of our <br />guidelines has been provided to you. <br /> <br />c. The Feasibility Study must be completed. John Van Sciver will review your <br />feasibility study, and will assist you with revisions to the study so that it complies <br />with the Guidelines and statutory requirements. <br />