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<br />(/50/36 <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 />April 7, 2003 <br /> <br />Bill Owens <br />Governor <br /> <br />Mr. Leo Stieb, Jr. <br />19679 Co. Rd. 55 <br />Iliff, Colorado 80736 <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />RE: Loan for Stieb Brothers, Inc. - Well Augmentation Project <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Dear Leo: <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (CWCB) approved your Small <br />Project Loan request on March 26,2003, to construct a system of wells and recharge ponds to replace. <br />out-of-priority irrigation well depletions. <br /> <br />The Board approved a Small Project Loan from the Construction Fund in a maximum amount of <br />$153,015 (including the 1 % loan service charge) with loan terms of 2.5% per annum for 20 years. I <br />have attached a copy of the updated Board memo that includes a section "Action taken by the CWCB <br />on March 26, 2003." <br /> <br />When the Board approves a loan there remain several conditions: <br /> <br />a) A Feasibilitv Study is required. No further action is required on your part. Bruce <br />Johnson has reviewed the study titled "Feasibility Study of the Stieb Brothers Recharge <br />Project - February 2003." The report, in combination with the CWCB board memo <br />dated March 17, 2003 meets the requirements of the CWCB Construction Fund <br />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 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 />be the basis of the monthly pay estimates for disbursement of your loan funds. Tim's <br />. phone number is 303-866-3480. <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />