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<br />,f <br /> <br />ST A TE 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 />September 24, 2002 <br /> <br />Bill Owens <br />Governor <br /> <br />Ms. Annette Bowin, Town Manager <br />Town of Akron <br />P.O. Box P <br />Akron, Colorado 80720 <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />RE: Loan for Well and Pipeline Constriction <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Dear Annette: <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (CWCB) approved your Small <br />Project Loan request on September 12, 2002. The loan is for construction of two wells, raw water <br />transmission pipelines, and an emergency generator. <br /> <br />The Board approved a Small Project Loan from the Construction Fund in a maximum amount of <br />$349,799. The loan terms are 3.75% for 30 years. I have attached a copy of the updated Board memo <br />that includes approval conditions on page 6 under the section "Action taken by the CWCB on <br />September 12, 2002." The Board wanted to clarify that the loan is being made to the Town through its <br />water enterprise fund, and also added a condition that the Town will provide evidence that Y-W Electric <br />Company will agree to parity status for our loan, on the annual water fund revenues in excess of <br />$230,000. <br /> <br />When the Board approves a Small Project Loan there remain several conditions: <br /> <br />a) A Feasibility Study is required. No further action is required on your part. Bruce <br />Johnson has reviewed the study titled "Feasibility Study for Construction of the Hoyer <br />and Thomas/Kusel Wells and Pipeline." The report, in combination with the CWCB <br />board memo dated August 30, 2002 meets the requirements of the CWCB Construction <br />Fund Guidelines for feasibility studies. <br /> <br />b) An approved contract must be in place before funds can be advanced. J an lllian will <br />place this project on our contracting "hot list" and initiate the loan contracting process. <br />Based on your discussions with our staff I understand that the project will need funds to <br />pay contractor bills on or about January 1, 2003. For future reference Jan's phone <br />number is 303-894-2572. <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />