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<br />:rA-oJ <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 />August 9, 2004 <br /> <br />Bill Owens <br />Governor <br /> <br />Mr. Raymond Keith, President <br />Henry Bolen Ditch Company <br />PO Box 308 <br />Mancos, CO 81328 <br /> <br />Russell George <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />RE: Bolen Ditch Pipeline Project Loan <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Dear Mr. Keith: <br /> <br />I am pleased to inform you that on July 21,2004 the Colorado Water Conservation Board (CWCB) <br />approved your loan request. We understand that the loan will be used to install a new pipeline to <br />increase ditch efficiency and reduce salinity impacts on the downstream rivers including the Colorado <br />River. . <br /> <br />The Board approved an initial loan not to exceed $515,000. The Board also approved a post- <br />construction loan not to exceed $133,900 ($128,750 for project costs and $5,150 for the 1% Loan <br />Service Fee) with loan terms of2.5% per annum for 30 years. I have attached a copy of the updated <br />Board memo that includes a section "Action taken by the CWCB on July 21, 2004". Please note the <br />added change regarding loan security requirements. <br /> <br />When the Board approves a loan there remain several conditions: <br /> <br />a) A Feasibility Study is reQuired. Kirk Russell has reviewed the study titled "The Henry <br />Bolen Ditch Pipeline Project - May 2004." No further action is required of you on this <br />item. The report, in combination with the CWCB board memo dated July 9, 2004 will <br />meet the requirements of the CWCB Construction Fund Guidelines for feasibility <br />studies. <br /> <br />b) An approved contract must be in place before funds can be advanced. Jan Illian 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. You can contact Jan TIlian at 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 site visits, which will be <br /> <br />Flood Protection · Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />