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<br />Colorado Water Conservation Board <br /> <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 />D2A~,(:- (l-761'11.Y Ifl2.L <br />STATE OF COLORADO <br /> <br />. <br /> <br />-., ~..,.- <br />- . <br /> <br />Roy Romer <br />Governor <br /> <br />November 22, 1994 <br /> <br />James S. Lochhead <br />Executive Director, DNR <br /> <br />Danes C. Lite. P.E. <br />Director. CWCB <br /> <br />Mr. Trent Taylor <br />Board Vice Chairman <br />Red Mesa Ward <br />Reservoir and Ditch Co. <br />1290 County Road 102 <br />Hesperus, CO 81326 <br /> <br />RE: Rehabilitation of the Red Mesa Ward Dam <br />Initial Loan Approval <br /> <br />Dear Trent, <br /> <br />Concerning your application for a loan from the Construction Fund, I am pleased to inform you <br />that the Colorado Water Conservation Board (CWCB) has granted initial approval of your <br />request in amount of $2,250,000 for the constmction project. It is our understanding that <br />these funds will be used to rehabilitate and enlarge the Red Mesa Ward Reservoir. <br /> <br />The CWCB also approved a loan term of 30 years at an interest rate of 4.1 %. I have attached <br />a copy of the updated Board memo concerning the Red Mesa Ward Reservoir and Ditch <br />Company. Please refer to page 3 of that memo and to the section "Action Taken by the CWCB, <br />November 4,1994". Your Construction loan will be considered by the State General Assembly <br />as part of the 1995 Construction Fund Bill, with passage expected in May 1995. Funds will be <br />available about July 1. 1995. <br /> <br />The Board has given their initial approval subject to several conditions: <br /> <br />a. The Feasibilitv Study must be completed. Steve Harris has submitted a draft of the <br />feasibility study, which is currently under review by Mr. Bill Green of this office (866- <br />3441). Bill will be providing assistance and guidance, and will recommend approval of <br />the study when it is completed. <br /> <br />_ b. An approved contract must be in place before the construction work can proceed. <br />Ms. Jan Illian of this office will be responsible for drafting the contract, and can send you <br />an advanced review copy upon request. Final contract documents can be sent to you for <br />signing after the Construction Fund Bill is signed by the Governor, about June 1, 1995. <br />