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<br />':' <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br /> <br />721 Centennial Building <br />131 3 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX: (303) 866-4474 <br /> <br />STATE OF COLORl\DO <br /> <br />. <br /> <br />Roy Rom"r <br />Coverrlol <br /> <br />December 5, 1997 <br /> <br />I"mes 5, Lochhe"d <br />Executive Director, DNR <br /> <br />D"ril's C. Lite, PE, <br />Director, CWCB <br /> <br />Mrs. Joann F, Jordan, Secretary-Manager <br />Northern Colorado Water Association <br />P.O, Box 415 <br />Wellington, CO 80549 <br /> <br />RE: Purchase of wells <br />Loan Recommendation <br /> <br />Dear Mrs. Jordan, <br /> <br />Concerning your application for a loan from the Construction Fund, I am pleased to inform you the <br />Colorado Water Conservation Board (CWCB) has decided to recommended your request for <br />$900,000 to the General Assembly for consideration in the annual Construction Fund Bill. It is our <br />understanding the loan funds will be used to purchase wells, the water rights associated with those <br />wells, and the land on which the wells are located. <br /> <br />The CWCB approved a loan term of 30 years at an interest rate of 4%. I have attached a copy of <br />the updated Board memo concerning the Northern Colorado Water Association, Please refer to <br />page 3 of that memo and to the section "Action Taken by the CWCB, November 24, 1997". <br /> <br />When the Board recommends a loan request to be included in the Construction Fund Bill, there <br />remain several conditions: <br /> <br />a. The Bill must be approved by the General Assembly and signed by the Governor. This <br />is usually accomplished around June 151, <br /> <br />b, The Northern Colorado Water Association must pass a resolution. The resolution is <br />needed before we can complete the loan contract. Jan Illian (866-3441) will send you a <br />copy of the resolution. Please contact Jan if you need help with this requirement. <br /> <br />c. The Feasibility Study must be completed, I will provide you a specific list of additional <br />information to be included in the study, so that the content is in compliance with the <br />Guidelines and statutory requirements. An appraisal of the water rights, and an <br />evaluation of the yield for municipal purposes, will be a necessary part of the study, <br />