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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 />November 24, 2003 <br /> <br />Bill Owens <br />Governor <br /> <br />Mr. Dave Bernhardt, President <br />Greeley and Loveland Irrigation Company <br />808 23rd Avenue <br />Greeley, Colorado 80631 <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />RE: Loan to Reconstruct the Spillway at Boyd Lake <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Dear Mr. Bernhardt: <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (CWCB) approved your Small <br />Project Loan request on November 20, 2003. The loan is to reconstruct the spillway at the Boyd Lake <br />Dam in a new location. <br /> <br />The Board approved a Small Project Loan from the Construction Fund in a maximum amount of <br />$2,844,000, with loan terms of 3.00% per annum for 30 years. The approval includes the provision for <br />a 1 % ($28,158) loan service charge, which may be paid at closing, or financed along with the loan. I <br />have attached a copy of the updated Board memo that includes a section "Action taken by the CWCB <br />on November 20,2003." <br /> <br />When the Board approves a loan there remain several conditions: <br /> <br />a) A Feasibility Study is required. Bruce Johnson has reviewed the study titled <br />"Feasibility Study for Boyd Lake Spillway - October 27, 2003." No further action is <br />required of you on this item. The report, in combination with the CWCB board memo <br />dated November 7, 2003 will meet the requirements of the CWCB C;onstruction Fund <br />Guidelines for feasibility studies. <br /> <br />b) An approved contract must be in place before funds can be advanced. Jan 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 Adhrinistration 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 />