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<br />..:tV 5 <br /> <br />STA~rE 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 />Bill Owens <br />Governor <br /> <br />February 3, 2004 <br /> <br />Russell George <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Mr. J. Robert Tuck, President <br />Lower Platte and Beaver Canal Co. <br />P.O. Box 190 <br />Hillrose, CO 80733-0190 <br /> <br />RE: Well Augmentation Project <br />L.oan Approval <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Dear Robert, <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (CWCB) has <br />approved your request for a loan from the Construction Fund. We understand the loan will <br />be used to construct a well augmentation and groundwater recharge project. <br /> <br />The Board approved a Small Project loan from the Construction Fund in an amount of <br />$313,605 at the loan terms of 2.5% for 30 years. The approval includes the provision for a <br />1 % loan service fee, which will be funded from the loan proceeds. I have attached a copy <br />of the updated Board memo concerning the L.ower Platte and Beaver Canal Company. <br />Please refer to page 4 of that memo and to the section "Action taken by the CWCB <br />January 27,2004." <br /> <br />When the Board approves a loan there remain several conditions: <br /> <br />a) A Feasibilitv Study is reauired. John Van Sciver has reviewed the study titled <br />"Feasibility of Construction of the Lowor Platte and Beaver Canal Company <br />Augmentation Project" prepared by Brent Nation, P.E. The report meets the <br />requirements of the CWCB Construction Fund Guidelines for feasibility studies, and <br />has been accepted. <br /> <br />b) An approved contract must be in place before funds can be advanced. Jan IIlian has <br />placed this project on our "hot list" and has started the loan contracting process with a <br />goal of having a signed contract in place as soon as possible. Once the contract is <br />finalized the Company may request loan funds to cover eligible project expenditures. <br />