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<br />STATE 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 />Bill Owens <br />Governor <br /> <br />March 27, 2003 <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Dan McAuliffe <br />Deoutv Director <br /> <br />Mr. Allen Ringle, Superintendent <br />Lake Meredith Reservoir Co. <br />P.O. Box 8 <br />Ordway, CO 81063-0008 <br /> <br />RE: Outlet Channel Relocation <br />Loan Approval <br /> <br />Dear Allen, <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 relocate the Lake Meredith outlet channel. <br /> <br />The Board approved a loan from the Construction Fund in a maximum amount of <br />$1,000,000 at the loan terms of 4% for 30 years. The approval includes the provision for a <br />1% ($10,000) loan service charge, which may be paid at closing, or financed into the <br />loan. I have attached a copy of the updated Board memo concerning the Lake Meredith <br />Reservoir Company. Please refer to page 5 of that memo and to the section "Action taken <br />by the CWCB March 26, 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 C".ompleted We have reviewed the March 6, 2003 <br />study by Steffens and Associates, inc., titled Feasibility of Reconstruction of the <br />Lake Meredith Outlet Channel. The report meets the requirements of the CWCB <br />Construction Fund Guidelines for feasibility studies, and has been accepted. <br />