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<br />'. <br /> <br />1 <br /> <br />._' <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br /> <br />721 Stale Centennial BuildiDg <br />1313 Sherman Street <br />Denver. Colorado 80203 <br />Phone (303) 866-3441 <br />FAX (303) 8664474 <br /> <br />STATE OF COLORADO <br /> <br />. <br /> <br />Roy Romer <br />Governor <br /> <br />February 13, 1996 <br /> <br />1am::5 S. Lochhead <br />Executive Director. DNR <br /> <br />Daries C. We. P .E. <br />Dire=r. CWCB <br /> <br />Pagosa Springs Pipeline Co. <br />clo Mr. Jay R. Harrington <br />Town Administrator <br />PO Box 1859 <br />Pagosa Springs, CO 81147 <br /> <br />RE: Geothermal Raw Water Pipeline <br />Loan Approval <br /> <br />Dear Mr. Harrington, <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 given final approval of your request for <br />$60,000 from the Small Project Loan Account. It is our understanding these funds will be used <br />to construct a new geothermal raw water pipeline in spring 1996. <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 Pagosa Spring Pipeline Company. Please refer <br />to page 3 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 the contract. No CWCB <br />funds can be disbursed until the loan contact is signed. <br /> <br />d. You must adhere to the CWCB Design and Construction Administration <br />Procedures. Mike Serlet of this offIce (303-866-3441) will contact you to discuss <br />