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<br />.:s-A.J <br /> <br />STATE OF COLORADO <br /> <br />.. <br /> <br />Colorado Water Conservation.Board <br /> <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone:@03)8~1 <br />FAJ(:(303)86~74 <br />www.cwcb.state.co.us <br /> <br /> <br />September 17, 2004 <br /> <br />Bill Owens <br />Governor <br /> <br />Mr. Dean Wolcott, President <br />Lower Bauer West Lateral, LLC <br />P.O. Box 308 <br />Mancos, CO 81328 <br /> <br />Russell George <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />RE: Lower Bauer Outlet Pipeline Extensions Project <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Dear Mr. Wolcott: <br /> <br />I am pleased to inform you that on September 14, 2004 the Colorado Water Conservation Board <br />(C'wCB) approved your loan request. We understand that the loan will be used to install a new pipeline <br />to increase ditch efficiency and reduce salinity impacts on the downstream rivers including the <br />Colorado River. <br /> <br />The Board approved an initial loan not to exceed $195,000. The Board also approved a post- <br />construction loan not to exceed $50,700 ($48,750 for project costs and $1,950 for the 1% Loan Service <br />Fee) with loan terms of2.5% per annum for 30 years. I have attached a copy of the updated Board <br />memo that includes a section "Action taken by the CWCB on September 14,2004". Please note the <br />added change regarding Collateral requirements. <br /> <br />When the Board approves a loan there remain several conditions: <br /> <br />a) A Feasibility Study is reauired. Kirk Russell has reviewed the study titled "Lower <br />Bauer Reservoir Outlet Pipeline Extensions - July 2004. " Modifications will be <br />requested by Mr. Russell via phone/fax or email in the next couple weeks. The report, in <br />combination with the CWCB board memo dated September 7, 2004 (Revised <br />September 17,2004) will meet the requirements of the CWCB Construction Fund <br />Guidelines for feasibility studies. <br /> <br />b) An a-pproved contract must be in place before funds can be advanced. J an lllian will <br />initiate the loan contracting process for this project. Once the contract is finalized the <br />Company may request loan funds to cover eligible project expenses. You can contact <br />Jan lllian 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 />