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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 />May 27,2003 <br /> <br />Bill Owens <br />Governor <br /> <br />Mr. Ken Beck, President <br />Pine River-Bayfield Ditch Company <br />P.O. Box 3345 <br />Bayfield, Colorado 81302 <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />RE: Loan for Pine River-Bayfield Ditch Company - Beaver Creek Siphon <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Dear Ken: <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (CWCB) approved your Small <br />Project Loan request on May 20,2003, to replace the Ditch Company's 2300 foot 10ng Beaver Creek <br />siphon. <br /> <br />The Board approved a Small Project Loan from the Construction Fund in a maximum amount of <br />$202,000 (including the 1% 10an service charge) with 10an terms of 2.75% per annum for 30 years. I <br />have attached a copy of the updated Board memo that includes a section "Action taken by the CWCB <br />on May 20,2003." <br /> <br />When the Board approves a loan there remain several conditions: <br /> <br />a) A Feasibility Study is reQuired. Bruce Johnson has reviewed the preliminary study titled <br />"Feasibility for Replacement of the Pine River-Bayfield Ditch Company Beaver Creek <br />Siphon - May 2003." Please continue to work with him to finalize this report. The <br />report, in combination with the CWCB board memo dated May 7, 2003 wil1 meet the <br />requirements of the CWCB Construction Fund Guidelines for feasibility studies. <br /> <br />b) 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 loan 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) Y oumust 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 />be the basis of the monthly pay estimates for disbursement of your loan funds. Tim's <br />phone number is 303-866-3480. <br /> <br />Flood Protection · Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />