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<br />( <br /> <br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of N amra! 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 />-:'!-' (,-,,: r <br />.) ',,~. . ""''/':/'> <br />;~ ....:--' -;: <br />~ {;,:~1 ; <br />. ~ .=-:." .. <br />!BiD .. <br /> <br /> <br />January 29,2007 <br /> <br />Bill Ritter, Jr. <br />Governor <br /> <br />Donald Cramer, Mayor <br />Town of De Be que <br />P. O. Box 60 <br />DeBeque, CO 81630 <br /> <br />Harris D. Sherman <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />RE: Irrigation System Improvements <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Dear Mr. Cramer: <br /> <br />I am pleased to inform you that on January 23, 2007 the Colorado Water Conservation Board (CWCB) <br />approved your loan request. We understand that the loan will be used to pay for 70% of the engineering <br />and construction costs related to the Irrigation System Improvements. ill addition the loan approval <br />requires the following. <br /> <br />The Board approved a loan not to exceed $252,500 ($250,000 for project costs and $2,500 for the 1 % <br />Loan Service Fee) with loan terms of3.25% per annum for 30 years. I have attached a copy of the <br />updated Board memo that includes the Board's approval language, which includes a minor revision to <br />the Staff Recommendation. <br /> <br />When the Board approves a loan there remain several conditions: <br /> <br />a) Loan Feasibility Study: Kirk Russell has reviewed the study titled "Irrigation Pump <br />Station and Interceptor Feasibility Study", November 9, 2006". Modifications may be <br />requested by Mr. Russell via phone/fax or email in the next couple days. The approved <br />study, in combination with the CWCB Board Memo revised January 29,2007, will meet <br />the requirements ofthe CWCB Construction Fund Guidelines for loan feasibility <br />studies. <br /> <br />b) Contracting: An approved contract must be in place before funds can be advanced. <br />Vaughn McWilliams will initiate the loan contracting process for this project. Once the <br />contract is finalized the Company may request loan funds to cover eligible project <br />expenses. You can contact Vaughn at 303-866-3462 regarding the requirements. <br /> <br />c) Design/Construction: You must adhere to the CWCB Design and Construction <br />Administration Procedures. Tim Feehan will contact you regarding this phase of the <br />process. Tim will make construction site visits, which will be the basis of pay estimates <br />for disbursement of your loan.funds. You can contact Tim Feehan at his desk at <br />(303)866.3480 or cell phone (303)618.5010. <br /> <br />Flood Protection · Water Supply Planning aJ;ld Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />