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<br />I . <br /> <br />,:' <br />~ <br /> <br />STATE OF COLORADO <br /> <br />#0 <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 />e <br /> <br />July 30, 2004 <br /> <br />--i!):~f~;;<\ ' <br />C/.\~,~~~~;~/.~ <br /> <br />1'876 <br /> <br />Bill Owens <br />Governor <br /> <br />Russell George <br />Executive Director <br /> <br />Mr. Andy Sharp, President <br />Pinewood Springs Water District <br />182 Cree Court <br />Lyons, Colorado 80540 <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />RE: Loan for Raw Water System Improvements <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Dear Mr. Sharp: <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 construct a new storage <br />reservoir, pump station and raw water pipeline, raw water infiltration gallery modifications, and to <br />e purchase additional water rights. <br /> <br />The Board approved a loan in a maximum amount of $2,054,188 (including the 1 % loan service charge) <br />with loan terms of 4.0 % per annum for 30 years. I have attached a copy of the updated Board memo <br />that includes a section "Action taken by the CWCB on July 21, 2004." Please note that the Board <br />amended the staff recommendation, adding a provision that the loan for the water rights portion of the <br />project is contingent on the ability of the District to acquire the rights, along with the successful <br />completion of applicable procedures for joining the Northern Colorado Water Conservancy District. <br /> <br />When the Board approves a loan there remain several conditions: <br /> <br />e <br /> <br />a) <br /> <br />A Feasibility Study is required. Bruce Johnson has reviewed the study titled <br />"Feasibility of the Drought Mitigation Project (DMP) - June 2004." No furtlier action <br />is required of you on this item. The report, in combination with the CWCB board <br />memo dated July 9,2004 will meet the requirements of the CWCB Construction Fund <br />Guidelines for feasibility studies. <br /> <br />b) <br /> <br />An approved contract must be in place before funds can be advanced. Jan lllian will <br />place this project on our contracting "hot list" and will initiate the toan contracting <br />process. Once the contract is finalized the Company may request loan funds to cover <br />eligible project expenses. For future reference Jan's phone number is 303-866-3462. <br /> <br />c) <br /> <br />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 inspections, which will <br /> <br />Flood Protection. Water Supply PlaIming and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought PlaIming <br />