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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 80203 <br />Phone: (303) 866-3441 <br />FAX: (303) 866-4474 <br />www.cwcb.state.co.us <br /> <br /> <br />Bill Owens <br />Governor <br /> <br />December 4, 2002 <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Mr. Tom Cech, Executive Director <br />Central Colorado WCD <br />3209 West 28th Street <br />Greeley, CO 80634 <br /> <br />RE: Water Rights Purchase and <br />Gravel Pit Construction. <br />Loan Recommendation <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Dear Tom, <br /> <br />lam pleased to inform you that the Colorado Water Conservation Board (CWCB) has <br />recommended your loan to the General Assembly for approval. Your loan request will be <br />included in the 2003 Water Project Construction Bill. Loan funds will be authorized in <br />spring 2003, once the Governor has signed the bill. I understand the loan will be used to <br />purchase senior water rights and construct gravel pit storage and water recharge <br />facilities to provide increased augmentation water supplies for your members. <br /> <br />The Board approved a loan from the Construction Fund in a maximum amount of <br />$15,000,000. The loan terms are 2.75% for 30 years. I have attached a copy of the <br />updated Board memo concerning the Groundwater Management Subdistrict of the <br />Central Colorado Water Conservancy District. Please refer to page 6 of that memo and to <br />the section "Action taken by the CWCB November 26,2001." <br /> <br />When the Board approves a loan there remain several conditions: <br /> <br />a) A Feasibility Study is required. John Van Sciver has reviewed the study titled <br />"Feasibility Study for Acquisition of Water Rights and Water Storage" prepared by the <br />District. The report meets the requirements of the CWeB Construction Fund <br />Guidelines for feasibility studies. <br />