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<br />;:-s , r',-~ <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 />November 24, 2004 <br /> <br />Bill Owens <br />Governor <br /> <br />Mr. Ralph Scanga, General Manager/Secretary <br />Upper Arkansas Water Conservancy District <br />P.O. Box 1090 <br />Salida, CO 81201 <br /> <br />Russell George <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />RE: North Fork Reservoir Rehabilitation and Expansion Project Loan <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Dear Mr. Scanga: <br /> <br />I am. pleased to inform you that on November 17,2004 the Colorado Water Conservation Board <br />(CWCB) approved your loan request. We understand that the loan will be used to rehabilitate the <br />outlet pipe and expand the North Fork Reservoir. <br /> <br />The Board approved a loan not to exceed $3,009,800 ($2,980,000 for project costs and $29,800 <br />for the 1 % Loan Service Fee) with loan terms of3.0% per annum for 30 years. I have attached <br />a copy of the updated Board memo that includes the "Action taken by the CWCB on November <br />17,2004". <br /> <br />When the Board approves a loan there remain several conditions: <br /> <br />a) A Feasibility Studv Kirk Russell, P.E. has reviewed the study titled "Feasibility Study for <br />the North Fork Reservoir Rehabilitation and Expansion Project - August 2004". <br />Modifications will be requested by Mr. Russell via phone/fax or email in the next couple <br />weeks. The study, in combination with the CWCB board memo dated November 9, 2004 <br />(Revised November 24, 2004) will meet the requirements of the CWCB Construction Fund <br />Guidelines for feasibility studies. <br /> <br />b) An approved contract must be in place before funds can be advanced. Chad Henderson will <br />initiate the loan contracting process for this project. Once the contract is finalized the <br />Company may request loan funds to cover eligible project expenses. You can contact Mr. <br />Hend,erson at 303-866-3462. <br /> <br />c) CWCB Design and Construction Administration Procedures Tim Feehan will contact you <br />regarding the CWCB requirements concerning project bidding, design, and construction. <br />Mr. Feehan will make construction site visits, which will be the basis of the monthly pay <br />estimates for disbursement of your loan funds. You can contact Mr. Feehan at 303-866- <br />3480. <br /> <br />Flood Protection · Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />