PROJC00100 ‎(2)‎

• Contract/PO #: C150006
• Contractor Name: Palisade, Town of
• Contract Type: Loan
• Water District: 72
• County: Mesa
• Bill Number: HB 95-1155
• Loan Projects - Doc Type: Project Completion Letter

(e STATE OF CfiLORADO

Colorado Water Conservation Board Q
Department of Natural Resources . .
t3lJ Sherman Sueec, Room 721
Denver, Colorado 80203
Phone: (l03) 866-3441 .
,AX: [phone]
www.dnr.state.co.us!c:wcb

Bill Owens
Governor

Greg E. Walcher
executive Director

October 2, 2000

Dan McA.uliffe
C'NCB Director
(Acri..."lg)

NOTICE OF PROJECT SUBSTiu'ITlAL COi'vlPLETION ."'ND REPA't''i'vIENT SCHEDULE

Mr. John Alder, Town Administrator
Town of Palisade
Post Office Box 128
Palisade, CO 81526-0128

Re: Contract Number C150006 - Cottonwood Pipeline Project

Dear Mr. Alder

This letter is to advise you that the work described in the above referenced Contract was substantially
completed as of October 1,2000.

In accordance with the Contract, the Town of Palisade owes $18,870.01 for interest during
construction, as calculated on the attached spreadsheet, due on October 16, 2000. Make your check for
interest during construction payable to the Colorado Water Conservation Board and include the Contract
Number on the check.

The total loan amouttt was $922,000; however, the town requested disbursements totaling
$729,520.80 for the prDject. In accordance with Paragraph A.8.a of the loan contract, the Town's Board
of Trustees agreed to have the remaining loan amount of$I92,479.20 applied as a prepayment and the
annual loan payment would remain at $53,319.35, as indicated by the Promissory Note (copy attached).
Therefore, the current balance of the Town's loan, after apply the prepayment, is $729,520.80. Attached
is an amortization schedule that reflects the loan will be repaid in 21 years, rather than original 30 years.

As outlined in the Promissory Note, Appendix B of the Contract, your first loan payment in the
amount of $53,319.35 is due on OctDber 1,2001. Please see the attached Repayment Schedule and a copy of
the Promissory Note.

Flood C\)['1.I:rol.1OJ F1Qodpl,lln ~[,ll1Jge:nen[.LJrry L,Ulg. Chief. \VJ.ter Supply Planning JnJ Fir.aoce.Mike Sc:~le~. C11et-. lome.un
Flows Jnd Warer Righrs Invesrigatlons-Dan Merriman, Chief. [nterm.te Screams Investigations-Randy Sea.holm, Chief. OtTIce of
Conservation Planning. William Stanton, Chief. Personnel and Budget.Don Wood, ChIef