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<br />,.el. W7tJ,{/ <br /> <br /> <br />COLORADO WATER RESOURCES & <br />POWER DEVELOPMENT AUTHORITY <br /> <br />Logan Tower Bldg. - Suite 620. 1580 Logan Street, Denver, Colorado 80203 <br />303/830-1550 FAX 303/832-8205 <br /> <br />October 21, 1994 <br /> <br />Mr. John Van Sciver, PE <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1313 Sherman Street <br />Denver, Colorado 80203 <br /> <br /> <br />, .---...... <br /> <br />'.J'.......: '. <br />",~/ + ' <br />;:;: RECEIVE 0 '\ <br />OCT 24 1;\)4 .' <br /> <br />CWCBj <br />'~ <br /> <br />Re: Colorado Water Resources & Power Development Authority <br />1994 Construction Fund Loan Review for the CWCB <br /> <br />Dear Mr. Van Sciver: <br /> <br />As you have requested, we have reviewed the list of applicants for project financing from <br />the CWCB in relation to the Authority's ability to provide project financing to these entities <br />under the Authority's programs. After a review of the items that you sent to us, the <br />following is a summary of the potential for funding loans. <br /> <br />One applicant listed in your letter that may qualify for funding from the Authority's Small <br />Water Resources Projects Program is Morgan County Quality Water District (the "District"). <br />Due to its size the District may qualify for up to $2,550,000 of funding, but without a <br />detailed review of the District's financials we cannot be certain. Your letter states that <br />District is requesting project financing at an interest rate of 2%. Interest rates through this <br />Small Water program are set at the market and are currently 6.5%. Again, Morgan County <br />may qualify for some of the funding they need through this program, however, they should <br />continue to seek funding from other sources. <br /> <br />The other applicants that are listed, the Town of Morrison, the Town of Norwood, the Town <br />of Paonia, the Town of Palisade, and the City of Victor may qualify for a loan from the <br />Domestic Water Supply Projects Revolving Fund. In order for the applicants to be eligible <br />for a loan from this fund, their projects must be on the eligibility list that is approved by a <br />Joint Resolution of the State Legislature. Generally, this would occur on or around April <br />1 of each year. The maximum amount available for anyone loan is $500,000. The <br />interest rate is fixed at 4.5% and the term of the loan is up to 30 years. There is a <br />possibility of at least partial funding for the applicants through this program upon review <br />and approval, but they should continue to seek funding from other sources. <br /> <br />If you have questions about the foregoing or about the Authority's programs, please call <br />me or Dan at 830-1550. <br /> <br />Sincerely, <br /> <br />~ <br /> <br /> <br />Michael Brod <br />Finance Manager <br />