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<br />C I ?UU?ST A TE OF COLoRAbo <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 /> <br />a <br /> <br />Bill Owens <br />Governor <br /> <br />February 7, 2000 <br /> <br />Greg E.Walcher <br />Executive Dll'ector <br /> <br />Peter H. Evans <br />ewes Director <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Mr. Steve Cecil, President <br />Owl Creek Supply and Irrigation Co. <br />P.O. Box 206 <br />Eaton, CO 80615 <br /> <br />RE: Rehabilitation of hydraulic Structures <br />Loan Recommendation <br /> <br />Dear Mr. Cecil, <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (CWCB) has <br />recommended your loan to the General Assembly for approval. Your loan request will be <br />included in the Board's annual Water Project Construction Bill. Loan funds will be <br />authorized in May 2000, once the Governor has signed the bill. We understand the loan <br />will be used to rehabilitate hydraulic structures on the Company's ditch system. <br /> <br />The Board recommended a loan from the Construction Fund in a maximum amount of <br />$450,000 with terms of 4% for 30 years. I have attached a copy of the updated Board <br />memo concerning the Owl Creek Supply and Irrigation Company. Please refer to page 4 <br />of that memo and to the section "Action taken by the CWCB January 26, 2000." <br /> <br />When the Board recommends a Construction Fund Loan there remain several conditions: <br /> <br />a) A Feasibility Study must be completed. We have reviewed the study titled Feasibility <br />Study for Rehabilitation of Owl Creek Ditch Hydraulic Structures, and find that the <br />report meets the requirements of the CWCB Construction Fund Guidelines for <br />feasibility studies. <br /> <br />b) An approved contract must be in place before funds can be advanced. Jan IIlian will <br />contact you concerning our contracting procedure. It usually takes about 2 months to <br />complete the contract after funds have been authorized by the General Assembly. <br />