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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 />November 28, 2001 <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Mr. Allen Ringle, Manager <br />Lake Henry Reservoir Company <br />P.O. Box 8 <br />Ordway, eo 81063 <br /> <br />RE: Lake Henry Reservoir Dam Rehabilitation <br />Loan Recommendation <br /> <br />Dear Allen, <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (eWCB) has <br />recommended your loan to the General Assembly for approval. Your loan request will be <br />included in the Board's year 2002 Water Project Construction Bill. Loan funds will be <br />authorized in spring 2002, once the Governor has signed the bill. I understand the loan will be <br />used to rehabilitate the Lake Henry Reservoir Dam. <br /> <br />The Board recommended a loan from the Construction Fund in a maximum amount of <br />$490,000. The loan terms are 4.25% for 30 years. I have attached a copy of the updated <br />Board memo concerning the Lake Henry Reservoir Company. Please refer to page 4 of that <br />memo and to the section "Action taken by the cweB November 20, 2001." <br /> <br />When the Board recommends a loan there remain several conditions: <br /> <br />a) A Feasibility Study is required. John Van Sciver of the CWCB Staff has completed a study <br />titled "Feasibility Study - Rehabilitation of the Lake Henry Dam" dated November 2001. <br />The report meets the requirements of the eWCB Construction Fund Guidelines for <br />feasibility studies. <br /> <br />b) An approved contract must be in place before funds can be advanced. Jan IlIian will place <br />this project on our contracting "hot list" and will initiate the loan contracting process. We <br />understand the Company plans to start construction in fall-winter 2002 and our goal is to <br />have a signed contract in place by that time. <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />