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<br />, ,1 <br /> <br />" . <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 />Bill Owens <br />Governor <br /> <br />March 27, 2003 <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Dan McAuliffe <br />Deputv Director <br /> <br />Mr. Norman Hunt, President <br />Silt Water Conservancy District <br />P.O. Box 8 <br />Silt, CO 81652 <br /> <br />RE: Transformer replacement <br />Loan Approval <br /> <br />Dear Mr. Hunt, <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (CWCB) has <br />approved your request for a Small Project Loan from the Construction Fund. We <br />understand the loan, will be used to replace the electric transformer at the District's <br />pumping plant on the Colorado River. <br /> <br />The Board approved a loan from the Construction Fund in an amount of $486,000 at the <br />loan terms of 2.75% for 30 years. The approval includes the provision for a 1 % ($4,860) <br />loan service charge, which may be paid at closing, or financed along with the loan. I have <br />attached a copy of the updated Board memo concerning the Silt Water ConseNancy <br />District. Please refer to page 4 of that memo and to the section "Action taken by the <br />CWCB March 26, 2003." <br /> <br />When the Board approves a Small Project Loan fromthe Construction Fund there remain <br />several conditions: <br /> <br />a) A Feasibility Study must be completed We have reviewed the study titled <br />Feasibility of Replacement of the Silt Pump Station Transformer. The report meets <br />the requirements of the CWeB Construction Fund Guidelines for feasibility studies, <br />and has been accepted. <br />