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<br />, <br />.. <br /> <br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />13.13 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX: (303) 866-4474 <br /> <br />~ <br /> <br />Bill Owens <br />Governor <br /> <br />February 10,2000 <br /> <br />Mr. Anthony Onorato, Jr. <br />President <br />Weld County Tri-Area Sanitation District <br />P.O. Box 213 <br />Frederick, Colorado 80530 <br /> <br />Greg E.Walcher <br />Executive Director <br /> <br />Peter H. Evans <br />CWeB Director <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Re: Regional Detention Pond Project <br /> <br />Dear Mr. Onorato: <br /> <br />I am writing to confirm that, at the January 26, 2000 meeting of the Colorado Water <br />Conservation Board, the Board recommended a Severance Tax Trust Fund loan of <br />$730,000 to the Weld County Tri-Area Sanitation District for a regional storm water <br />detention facility. The term of the loan is for 30 years and the approved lending rate is <br />5.00 percent. <br /> <br />The Board's action on the $730,000 loan request will be included in the year 2000 <br />CWCB funding legislation and is subject to authorization by the General Assembly. If <br />authorized by the General Assembly, the loan funds should be available in Mayor June <br />of2000. <br /> <br />As security for the loan, it is expected that the District's storm water enterprise fund will <br />offer a pledge of revenues backed by a rate covenant and annual fmancial reporting. <br /> <br />The Board's recommendation for funding is conditioned upon the following: <br /> <br />1. Final loan approval will be conditioned upon the District's ability to demonstrate to <br />the Board's satisfaction that the proposed project is fmancially feasible. <br /> <br />2. The authorization will not commit the Colorado Water Conservation Board to <br />providing any additional funding for the project. <br /> <br />3. The boards of directors of the Weld County Tri-Area Sanitation District and the <br />District's storm water enterprise fund must adopt resolutions approving the loan and <br />the pledge of revenues. <br /> <br />4. Any loan resulting from this authorization shall have parity status with any existing <br />debt of the storm water enterprise fund with respect to a pledge of revenues. <br />