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<br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br /> <br />721 Centennial Building <br />1313 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX: (303) 866-4474 <br /> <br />STATE OF COLORADO <br /> <br />. <br /> <br />Roy Romer <br />Governor <br /> <br />December 18, 1998 <br /> <br />James S. Lochhead <br />E.'~culive Director, D:-lR <br /> <br />Danes C. Lile. f'E. <br />Diredor. (WeB <br /> <br />Pe,er H. Evans <br />Acting Dirt.'Ctor, eWCB <br /> <br />Mrs. Laura 1. Woods <br />Columbine Ranches Property Owners Association <br />11246 Lewistown Street <br />Commerce City, CO 80022 <br /> <br />Dear Mrs. Woods, <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (CWCB), at their <br />November 1998 meeting in Denver, unanimously decided to recommend your application for a <br />loan from the CWCB Construction Fund to the General Assembly for approval. Your loan request <br />will be included in the Board's annual Water Project Construction Bill. We understand the loan <br />will be used to purchase water rights for augmentation of the Association's existing irrigation well. <br /> <br />The Board recommended a loan from the CDnstruction Fund in a maximum amount of$305,250 or <br />75-percent of the total project cost, whichever is less. The financing terms for this loan shall be at <br />an annual percentage rate of 4.75-percent for a duration of30 years. Eligible costs include, but are <br />not limited to, the costs to purchase water rights for augmentation, and directly related costs of <br />engineering and construction associated with actually placing these rights into use for <br />augmentation. Collateral for the loan shall be a security interest in the stream of income derived <br />from assessments, and the water rights that are purchased with this loan. <br /> <br />The Board recommended your loan with the following conditions: <br /> <br />a. The feasibility study must be approved. The feasibility report prepared by Robert A. <br />Longenbaugh, Consulting Water Resource Engineer, dated November 12, 1998, has <br />been reviewed by Bill Green of my staff and found to be in compliance with the <br />"Guidelines for Financial Assistance from the CWCB Construction Fund." <br /> <br />b. An approved contract must be in place before loan funds can be advanced. Jan Illian <br />will contact you and your attorney concerning our contracting procedure. We <br />understand you plan to use the funds as soon as they become available on or about July <br />I, 1999 after the Bill has been signed by the Governor. We have a heavy contracting <br />workload, so to meet this deadline we will assign your project a high priority. We will <br />also need to communicate frequently. <br />