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<br />C /5CfJf3 ---J}S <br /> <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 23,2002 <br /> <br />Bill Owens <br />Governor <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Mr. John Peroulis, Partner <br />John Peroulis & Sons Partnership <br />P,O, Box 1015 <br />Craig, CO 81626 <br /> <br />RE: <br /> <br />Rehabilitation of Martin Cull Dam <br />Small Project Loan Approval <br />(Follow-up loan) <br /> <br />Dan McAuhffe <br />Deputy Director <br /> <br />Dear Mr. Peroulis, <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (CWCB) approved your <br />follow-up Small Project Loan request on May 20, 2002. The loan is for rehabilitation work on the <br />Martin Cull Dam, <br /> <br />The Board approved an additional Small Project Loan from the Construction Fund in a maximum <br />amount of $100,000, based on the collateral offered, (The Board was willing to approve the entire <br />$150,000 requested amount, but only if additional collateral was provided,) The loan terms are <br />2,75% for 30 years, I have attached a copy of the updated Board memo concerning the John <br />Peroulis & Sons Partnership, Please refer to page 4 of that memo and to the section "Action taken <br />by the CWCB May 20, 2002," <br /> <br />When the Board approves a Small Project Loan there remain several conditions: <br /> <br />a) A Feasibilitv Study is required, John Van Sciver has reviewed the study titled "Feasibility Study <br />- Rehabilitation of the Martin Cull Dam"by Brian Len P,E, of Northwest Colorado Consultants, <br />Inc, The report meets the requirements of the CWCB Construction Fund Guidelines for <br />feasibility studies and has been accepted by this office, <br /> <br />b) An approved contract must be in place before funds can be advanced, Jan lIIian has placed <br />this follow-up loan on our contracting "hot list" and has initiated the loan contracting process. I <br />understand the project will be constructed in summer-fall 2002, and that the Partnership will <br />need funds from this loan to pay contractor bills on or about September 1, 2002, Our goal is to <br />have this follow-up loan contract signed by all parties to meet these scheduled dates, <br />