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<br />'< <br /> <br />RECEIVED <br />JUN 04 2001 <br /> <br />Colorado Water Conservation Board <br /> <br />Mr. Mike Serlet <br />Chief of Water Project Planning & Finance <br />Colorado Water Conservation Board <br />1313 Sherman Street, Room 721 <br />Denver, CO 80203 <br /> <br />Re: Fortune Reservoir <br />Loan Contract C150011 <br /> <br />Dear Mr. Serlet: <br /> <br />As you are aware, the Fortune Dam & Reservoir project is approximately 50% <br />complete and the pipelines for this project are about 75% complete. Due to <br />design, engineering and construction changes that occurred, we have <br />experienced increased costs of $6.2 million. Respectively, we are requesting <br />additional funding in the amount of $4.6 million from the Colorado Water <br />Conservation Board. Attached, for your reference, is a summary of the project <br />cost comparing the original estimate of $21.7 million to the revised estimate of <br />$27.9 million. <br /> <br />Attached, also, for your review is a copy of our audited financial statements for <br />the year ending January 31, 2001 and a cash flow analysis through 2011 <br />reflecting our loan repayment based upon the new loan amount of $20,900,000 <br />and assuming the same interest rate of 4.85% and term of ten (10) years for <br />now. <br /> <br />We are available to meet with you at your earliest convenience to discuss this <br />request. <br /> <br /> <br />Walter S. Welton, PLS/PE <br />President <br /> <br />cc: CMWCo Officers <br />Judy Vialpando, CMWCo Administrative Operations Manager <br /> <br />THE CONSOLIDATED MUTUAL WATER COMPANY <br />12700 West 27th Avenue' P.O. Box 150068 . Lakewood, Colorado 80215 <br />Telephone (303)238-0451 . Fax (303)237-5560 <br />