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<br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br /> <br />721 Centennial Building <br />131 3 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX: (303) 866-4474 <br /> <br />STATE OF COLORADO <br /> <br />~ <br />'. . <br />.. . <br />~ <br /> <br />Roy Romer <br />Governor <br /> <br />lames 5, Lochhead <br />Executive Director, DNR <br /> <br />Daries C. Lile, PE, <br />Director, CWCB <br /> <br />December 4, 1997 <br /> <br />Mr. James J. White <br />City Administrator <br />P.O. Box 907 <br />Idaho Springs, CO 80452 <br /> <br />RE: Rehabilitation ofIdaho Springs Reservoir <br />Loan Recommendation <br /> <br />Dear Jim, <br /> <br />Concerning your application for a loan from the Construction Fund, I am pleased to inform you the <br />Colorado Water Conservation Board (CWCB) has decided to recommended your request for <br />$955,000 to the General Assembly for consideration in the annual Construction Fund Bill. It is our <br />understanding these funds will be used to rehabilitate the Idaho Springs Reservoir, and to refinance <br />an existing short term CWCB Emergency Loan with a Standard CWCB Construction Fund Loan. <br /> <br />The CWCB approved a loan term of 30 years at an interest rate of 5%. I have attached a copy of <br />the updated Board memo concerning the City of Idaho Springs. Please refer to page 3 of that memo <br />and to the section "Action Taken by the CWCB, November 24, 1997". <br /> <br />When the Board recommends a loan request to be included in the Construction Fund Bill, there <br />remain several conditions: <br /> <br />a. The Bill must be approved bv the General Assembly and signed by the Governor. This <br />is usually accomplished around June 1 st. <br /> <br />b. The City of Idaho Springs must pass an ordinance. The ordinance is needed before we <br />can complete the loan contract. Please contact Jan Illian (866-3441) for help with this <br />requirement. <br /> <br />c. An approved contract must be in place before funds can be advanced. Jan Illian will <br />contact you concerning our contracting procedure. It usually takes 2 to 3 months to <br />complete the contract. <br />