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<br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of N amral 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 />August5,2003 <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />Rod KuhariCh <br />CWCB Director <br /> <br />Dan McAuliffe <br />Deputv Director <br /> <br />Mr. Jack Holman, Chairman <br />Ogilvy Irrigation and Land Co. <br />822 ih St., Suite 760 <br />Greeley, CO 80631 <br /> <br />RE: Rehabilitation of Seeley Lake Dam <br />Loan Approval <br /> <br />Dear Mr. Holman, <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (CWCB) has <br />approved your request for a Small Project Loan from the Construction Fund. We <br />understand the loan will be used to rehabilitate the Seeley Lake Dam. <br /> <br />The Board approved a loan from the Construction Fund in an amount of $350,000 at the <br />loan terms of 2.25% for 20 years. The approval includes the provision for a 1 % loan <br />service charge, which may be paid at substantial completion of the project, or financed <br />along with the loan. I have attached a copy of the updated Board memo concerning the <br />Ogilvy Irrigation and. Land Company. Please refer to page 4 of that memo and to the <br />section "Action taken by the CWCB July 28, 2003." <br /> <br />When the Board approves a Small Project Loan from the Construction Fund there remain <br />several conditions: <br /> <br />a) A Feasibility Study must be completed We have reviewed the study titled <br />Feasibility Study for Seeley Lake Outlet Rehabilitation Project by Smith <br />Geotechnical, dated June 2003. The report meets the requirements of the CWCB <br />Construction Fund Guidelines for feasibility studies, and has been accepted. <br />