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<br />! . <br /> <br />. <br />. . <br /> <br />fJI <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 />May 25, 2005 <br /> <br />Bill Owens <br />Governor <br /> <br />Ms. Kathy Samples, Secretary <br />Bijou Irrigation District <br />P.O. Box 972 <br />Fort Morgan, Colorado 80701 <br /> <br />Russell George <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />RE: Loan to Rehabilitate Empire Reservoir <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Dear Kathy: <br /> <br />I am pleased to inform you that on May 24,2005 the Colorado Water Conservation Board (CWCB) <br />approved.your loan request. We understand that the loan will be used to rehabilitate the Empire <br />Reservoir by constructing a new spillway and installing toe drains at several embankment locations. <br /> <br />The Board approved a loan in a maximum amount $672,660 (including the 1 % loan service charge) <br />with loan terms of2.50% per annum for 30 years. I have attached a copy of the updated Board memo <br />that includes a section "Action taken by the CWCB on May 24, 2005." I call your attention to the <br />approval condition added by the Board that requires the District electors to approve the proposed <br />increase in tax levy from $10 per acre to $12 per acre, and authorize the assumption of the proposed <br />.indebtedness, in accordance with the applicable provisions of the Irrigation District Law of 1905, <br />C.R.S. 37-41-113(4) and C.R.S. 37-41-117.) Please keep us advised on the progress of fulfilling this <br />condition of loan approval, and send us the proposed ballot language for our review prior to <br />publication. <br /> <br />When the Board approves a loan there remain several conditions: <br /> <br />a) A Feasibility Study is required. Bruce Johnson has reviewed the study titled <br />"Feasibility Study - Empire Reservoir Spillway Constriction - April 2005." Minor <br />revisions to the document were discussed with Tetra Tech RMC on May 23, 2005 and <br />the final report should be forthcoming. We need this so that contract preparation can <br />begin. The report, in combination with the CWCB board memo dated May 13, 2005 <br />will meet the requirements of the CWCB Construction Fund Guidelines for feasibility <br />studies. <br /> <br />b) An approved contract must be in place before funds can be advanced. Chad Henderson <br />will place this project on our contracting "hot list" and will initiate the loan contracting <br />process. Once the contract is finalized the Company may request loan funds to cover <br /> <br />Flood Protection · Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection.. Conservation and Drought Planning <br />