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<br />fj'G <br /> <br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Deparbnent 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 />August 6, 2003 <br /> <br />Bill Owens <br />Governor <br /> <br />Mr. William J. Grasmick, President <br />Lower Arkansas Water Management Association (LA WMA) <br />P.D. Box 1161 <br />Lamar, Colorado 81052 <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />RE: Loan for Purchase of Keesee Ditch Water Rights <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Dear Mr. Grasmick: <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (CWCB) approved your Small <br />Project Loan request on July 29,2003, for the purchase of Y2 of the Keesee Ditch water rights for use <br />as a replacement water source to offset depletions from well pumping. <br /> <br />The Board approved a Small Project Loan from the Construction Fund in a maximum amount of <br />$2,272,500 (including the 1 % loan service charge) with loan terms of2.50% per annum for 30 years. I <br />have attached a copy of the updated Board memo that includes a section "Action taken by the CWCB <br />on July 29,2003." h1 particular, please note several conditions that must be satisfied as part of the loan <br />approval. <br /> <br />When the Board approves a loan there remain several conditions: <br /> <br />a) A Feasibility Study is required. Bruce Johnson has reviewed the study titled <br />"Feasibility for Acquisition of One-Half of the Keesee Water Rights - July 2003." No <br />further action is required of you on this item. The report, in combination with the <br />CWCB board memo dated July 18, 2003 will meet the requirements of the CWCB <br />Construction Fund Guidelines for feasibility studies. <br /> <br />b) An approved contract must be in place before funds can be advanced. Jan TIlian will <br />place this project on our contracting "hot list" and will initiate the loan contracting <br />process. Once the contract is finalized the Company may request loan funds to cover <br />eligible project expenses. For future reference Jan's phone number is 303-866-3462. <br /> <br />c) You must adhere to the CWCB Design and Construction Administration Procedures. <br />Tim Feehan will contact you regarding the CWCB requirements concerning project <br />bidding, design, and construction. Tim will make construction inspections, which will <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake l"rotection <br />Water Supply Protection. Conservation and Drought Planning <br /> <br />~ <br />