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<br />\ , <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) 8664474 <br />www.cwcb.state.co.us <br /> <br /> <br />March 19, 2004 <br /> <br />Bill Owens <br />Governor <br /> <br />Russell George <br />Executive Director <br /> <br />Mr. John Kirkpatrick, President <br />Orchard City Irrigation District <br />P.O. Box 81 <br />Eckert, CO 81418 <br /> <br />RE: Transfer Ditch Rehabilitation <br />Loan Approval <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Dear Mr. Kirkpatrick, <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (CWCB) has <br />approved your loan request. We understand the loan will be used to rehabilitate a portion <br />of the Dry Creek Transfer Ditch, and to make repairs to the Circle Ditch headgate. . <br /> <br />The Board approved a Small Project loan from the Severance Tax Trust Fund Perpetual <br />. Base Account in an amount of $93,122 at the loan terms of 2.5% for 30 years. The <br />approval includes the provision for a 1 % loan service fee, which will be funded from the <br />loan proceeds. I have attached a copy of the updated Board memo concerning the <br />Orchard City Irrigation District. Please refer to page 4 of that memo and to the section <br />"Action taken by the CWCB March 17, 2004." <br /> <br />When the Board approves a loan there remain several conditions: <br /> <br />a) A Feasibility Study is required. Please continue to work with John Van Sciver or Bruce <br />Johnson of this office to complete the required study. The report must meet the <br />requirements of the CWCB Construction Fund Guidelines, and be approved by this <br />office, before the loan contract can be finalized. <br /> <br />b) An approved contract must be in place before funds can be advanced. Jan IlIian has <br />placed this project on our "hot list" and has started the loan contracting process with a <br />goal of having a signed contract in place as soon as possible. Once the contract is <br />finalized the District may request loan funds to cover eligible project expenditures. <br />