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<br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 30203 <br />Phone: (303) 866-3441 <br />FAX: (l03l 866-4474 <br />www.cwcb.stare.co.us <br /> <br />~ <br /> <br />Bill Owens <br />Governor <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />September 29, 2000 <br /> <br />Dan McAuliffe <br />Acting Director <br /> <br />Mr. Darrin Manuello, Vice President <br />Peoples Ditch Company <br />Rt. 2 <br />Sterling, CO 80751 <br /> <br />RE: Construction of Diversion Pipeline <br />Small Project Loan Approval <br /> <br />Dear Darrin, <br /> <br />I am pleased to inform you that the Colorado Water ConseNation Soard (CWCS) <br />approved your Small Project Loan request on July 24, 2000. I understand the loan will be <br />used to construct a pipeline that will replace the Company's diversion structure. <br /> <br />The Soard approved a Small Project Loan from the Construction Fund in a maximum <br />amount of $43,000. The loan terms are 3.75% for 20 years. I have attached a copy of the <br />updated Board memo concerning the Peoples Ditch Company. Please refer to page 3 of <br />that memo and to the section "Action taken by the CWCS July 24,2000." <br /> <br />When the Board approves a Small Project Loan there remain several conditions: <br /> <br />a) A Feasibility Study is required. The study is in final draft form, and will be finalized by <br />John Van Sciver, with input from you and your engineer. A copy of the study will be <br />sent to you under separate cover. <br /> <br />b) An approved contract must be in place before funds can be advanced. Jan IIlian has <br />placed this project on our contracting "hot list" and has initiated the loan contracting <br />process. I understand the project has a start construction date of October 1, 2000, <br />and that the Company will need funds to pay contracfor bills on or about November 1, <br />2001. Our goal is to have the loan contract signed by all parties to meet these <br />scheduled dates. <br /> <br />Flood Protection. Water Project Planning and Financing. Scream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />