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<br />'-" ;?-=, <br />, <br /> <br />Colorado 'Vater Conservation Board <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 />STATE OF COLORADO <br /> <br />. <br /> <br />-~ <br />" <br /> <br />Roy Romer <br />Governor <br /> <br />November 21, 1995 <br /> <br />James S. Lochhead <br />E~ve~o~DNR <br />Daries C. We, P .E. <br />Director, 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 />lnitial 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 />that the Colorado Water Conservation Board (CWCB) has made an initial decision to grant your <br />request for $60,000 from the Small Project Loan Account. It is our understanding that these <br />funds will be used 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, November 7,1995". <br /> <br />The Board has made their initial approval subject to several conditions: <br /> <br />a. You must adhere to the CWCB Guidelines for Financial Assistance. A copy IS <br />attached for your information. <br /> <br />b. A Feasibility Study is required. The study must include a written discussion of the <br />alternatives the Company has considered, and state why the selected alternative was <br />chosen. It must also include a description of the collateral the Company will offer, <br />written by the Company's attorney. John Van Sciver of this office (303-866-3441) can . <br />provide assistance and guidance, and will be reviewing the study. A sample Feasibility <br />Study (and computer disk, Word perfect 5.1) is attached. The study must be in draft <br />form, and submitted to the CWCB by January 8. 1996, in order for your loan to receive <br />fInal approval at the January 23, 1996 CWCB meeting. <br /> <br />c. An approved contract must be in place before the construction work can proceed. Jan <br />Illian of this office (303-866-3441) will be available to draft the contract after your loan <br />