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<br />.-'\PR 'i~:82006<,'
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<br />Mr..~i1<G/Ru$sell..P.E.. " .'. .....
<br />'.' '. . COI()r'~do,WaterCon~rvation8oard .'. . ' ,
<br />1'580LoganStr.eet~Suite.750 ' ':.' .... . '.
<br />'. Denver;; 'Co. . 8020a . .
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<br />. CO\OtadQ Water
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<br />Re: .'. . Loan ConhcfNo.C:1sOo1.1 . .' .....
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<br />,Dear Mr.: ~~sseH:' ,',.' ' .. . ~_
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<br />'.. Thank' you for. m~ting With u~ last 'week. . Due. t~. ev~r mortJ S,tringent Water '.qUality.
<br />, regulations, 'we: have been' forced t6: explo~. water tr:eabnent altem~tiVes fo~ our eXisting' - .
<br />" water treatment "plant.. ; In. serVice. sil'l~the ':late'1~5Qs,andwl"li!~, stil) ..fUnctional; 'w~ .hav(9' .
<br />,eanoloctedit witlbe'necessaryto OP9rad.e oiar water'tteatm19tit'ProCeS$8S to meet Current"
<br />and fUture,regul,atiolis.:i;>ygoirig tQ:m~~ne'filntiom: A<<ef ~m~09 ext~n$ive..pilot '.
<br />tests .of: sev.eraJ'rriembtSl'lemanUfacturel'$,u 'we. have :also disCovered it. will 'nof :be..
<br />'. ecx.>nomicaUyfeasib,le: to modifY our. ,exislingpl$ntstructQre. . .lnS~e8cJ', We .have found we'.'
<br />, will hav~tQ'build new.faclUties:.. . . , ". - .'. .... '.' " ',. ':'
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<br />'" .~cause.our-Company isa ;privately.owhed nOhPtofit'Cc>fP9~c)nwhose pnmaiy' SOU~:
<br />'9f ,.revenue isderivedfrom itSStoCkholde~,finatiCir.iga new _t~r: treatmenifaCilityjs.
<br />availaple . only fro.m ". conVentiog~1 $.<;jur.ces' artd 'tfle tPtfll,~pital': re,quirement i~,.estirinited .
<br />. to. be betWeen.$1.,~.to $17; million; GonstruCtion ,jsplanned,tQ ~i1'Jatertt:lis :.y~ar:iind'be
<br />completed by 2008... To . meet .this' r.equiren1ent and; sehedute. . we . are &Xptonn9' the' .
<br />.' , possibilities' ,of:restructuring, 'our ~xistlng debt strUcture'. . - " " , - . .... : .
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<br />. ....Re$peC<<:Qlly. an(ts~bject .fo:ttiemutuaJ "apprOvarQft~e .~Colorado ,~er P(msen,~tion ."
<br />;.Board (~WCBf,and:Th~ COI1SQ1ida~' Mut~IW~er:':COnipahY '(~QnsOlicf~te~)'EloardS of' "
<br />,'. Oirect9.rs; :'we'~"r~uestingJ:Q~ide~on'bythe CWCB:'w'.:d$r: ~, (~lyeafs ;ot' .'
<br />" princi~l:paymentsb8ginning. on MarCh'1,'2007 :'.Atta~ed is 'a'~vi~'; repaymerit .
<br />. ~". , '. $cheqUle; ...wnicn', i.IIu~tffl~e~:'thatqo~s~li~at~ ~Qul~CQntin~e ll'Ia~ing:i~ter.est 'paymen~: -. .
<br />,.'on th~ :()ut~ta.9dingprjneipal dljringj~e:ptoP9sed fwe ;(.5tyear~f~fIJl~nt ~riQd .:and'fuU" :
<br />. ..ptin~~I,"af:l(flnt~test :~yOje~vl9uld:rel;ii)me' ori: 'MarCli,:l, '~012.~ .1l1Et'lqan Wdl.ild~ be .
<br />'. .,':pai~' ir) .fljll~ti.';~~'l,'~~,6::a~~. alr.otft~r f~s~ridtond!tiC)ris'.m: ~r.Loan.6.Q"menf
<br />.., wo,uld' remain .in "ffeCt :and' unChanged. . C,o,.,sideration of .this request A)y the' .eWCB
<br />would tie-gre~ly app,reciated.. " .'. 'o.' ,.... ~ ' ," ',;' ,...... ..', ",". ,. . :.: .
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<br />'..:Welton~ 'PLS/PE.'
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<br />'. ',CMWGQBoardofDi'rectors:' ". . . "..,. ". .',
<br />"CMWCoOffl~rs' ,.;' '.
<br />'THE.~SOi.iD~.~W~~W~::.;c": '.
<br />127()O weSt 27th Ave~ue.,.RO:' ~i lS0068,. ~oOd; Coloiado '80215.' . . : .
<br />· '.'Telephol)e(303)238~045 ~ ;~Fax.:(60~)i3i~55.60 :
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