PROJ01888 ‎(2)‎

• Contract/PO #: C150229
• Contractor Name: Logan Irrigation District
• Contract Type: Loan
• Water District: 0
• County: Logan
• Loan Projects - Doc Type: Project Completion Letter

STATE OF COLORADO
Colorado Water Conservation Board
Department of Natural Resources
1313 Sherman Street, Room 721
Denver, Colorado 80203
Phone: [phone]
FAX: [phone]
www.cwcb.state.co.us
June 26, 2007
NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT
Mr. Jim Yahn, Manager
Logan Irrigation District
P.O. Box 333
Sterling, CO 80751
Re: Contract Number C 150229 — Prewitt Reservoir Spillway Improvements
Dear Mr. Yahn:
Bill Ritter Jr.
Governor
Harris D. Sherman
Executive Director
Rod Kuharich
CWCB Director
Dan McAuliffe
Deputy Director
This letter is to advise you that the work described in the above referenced Contract was substantially completed as of
June 1, 2007.
In accordance with the Contract, the Logan Irrigation District owes $4,351.58 for interest during construction, as
calculated on the attached spreadsheet, due by July 13, 2007. Please make your check for interest during construction payable to
the Colorado Water Conservation Board and include the Contract Number on the check.
As outlined in the Promissory Note, Appendix 2 of the Contract, your first loan payment in the amount of $31,937.08 is
due on June 1, 2008. An adjustment of $6,323.51 has been applied to your principal balance to account for the actual funds
expended to construct your project. The annual loan payment was based on the District's approved contract amount of
$505,000.00, which results in a reduction to your last payment, as illustrated on the attached Loan Repayment Schedule.
Additionally, attached is a copy of the Promissory Note. A 1% loan service fee of $4,937.39 has been added to your principal
balance for a final loan balance of $498,676.49. The loan service fee was based on your final cumulative loan balance of
$493,739.10.
hi accordance with the Borrower's Liability Insurance Provision of the Contract, Paragraph A.16, please note that the
renewed insurance certificates need to be provided to the Colorado Water Conservation Board annually.
It has been a pleasure of the Colorado Water Conservation Board to work with the Logan Irrigation District on the
successful completion of this project. Please call if you have any questions regarding this matter or if we can be of service to you
in the future.
Sincerely,
Mike Serlet, P.E.
Chief, Water Supply Planning and Finance Section
C. Eric Wilkinson, CWCB Board Member
Water Supply Planning and Finance Section Contract Amount = $505,000.00
Project file Expended Amount = $498,676.49
Contract file
Flood Protection • Water Supply Planning and Finance • Stream and Lake Protection
Water Supply Protection • Conservation and Drought Planning