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<br />~ <br /> <br />e <br /> <br />STArltoF COLORADO <br /> <br />. <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />721 State Centennial Building <br />i313 Shennan Street <br />Denver. Colorado .80203 <br />Phone (303) 866-3441 <br />FAX (303) 8664474 <br /> <br />~ Romer <br />Govemor <br /> <br />March 5, 1996 <br /> <br />James s. In-bW.,,,1 <br />Executive DiIector. DNR <br /> <br />Daries c. We. P .E. <br />Direcror. CWCB <br /> <br />Hon. Michael Gallagher <br />Town of Minturn <br />P.O. Box 309 <br />Minturn, CO 81645 <br /> <br />. <br /> <br />Re: Loan Application for Bolts Lake Project <br /> <br />Dear Mayor Gallagher: <br /> <br />I am. pleased to inform you that, at the January 24, 1996 meeting of the Colorado <br />Water Conservation Board (CWCB), the Board recommended that the Town of <br />Minturn's Bolts Lake Project be included in the 1996 Construction Fund <br />recommendation to the General Assembly for a loan of $360,000.00. The terms of the <br />loan would be for 30 years at a lending rate of 5.25 percent. <br /> <br />Please contact Jan Illian of this office at your earliest convenience regarding your loan <br />contract with the CWCB. She will be responsible for drafting your contract and <br />working with other state agencies in contract processing and approval. The contracting <br />process may require three to six months. No funds can be disbursed until the 1996 <br />Construction Fund bill has been approved by the General Assembly and signed by the <br />Governor and a final loan contract is in place. <br /> <br />Prior to the initiation of design of the project, please contact Mike Serlet of this office. <br />He will review the CWCB design and construction administration procedures with you <br />as outlined in the Guidelines for Financial Assistance through the Colorado Water <br />Conservation Board Construction Fund, a copy of which has been provided to Richard <br />Dangler. Mike will work with the Town staff and your engineer in design review, <br />construction inspection, and approval and processing of construction payment estimates. <br />