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<br />ST A.TE 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 />FPC(: (303)866-4474 <br />www.cwcb.state.co.us <br /> <br /> <br />May 3, 2007 <br /> <br />Bill Ritter Jr. <br />Governor <br /> <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT <br /> <br />Harris D. Sherman <br />Executive Director <br /> <br />Mr. John Zade!, General Manager <br />Central Weld County Water District <br />2235 2nd Avenue <br />Greeley, CO 80631 <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Re: Contract Numbers C 150209 and C150122 - Dry Creek Resl~rvoir <br /> <br />Dear Mr. Zadel: <br /> <br />This letter is to advise you that the work described in the above referenced Contract was substantially completed as of <br />May 1, 2007. <br /> <br />In accordance with the Contract, the Central Weld COlmty Water District owes $218,279.28 for interest during <br />construction for Loan Contract C150l22 and $90,032.02 for interest during construction for Loan Contract C150209, as <br />calculated on the attached spreadsheets, due by May 28,2007. Please make your check for interest during construction payable <br />to the Colorado Water Conservation Board and include the Contract Numbers on the check. <br /> <br />Your first loan payments of $357,840.56 for Loan Contraet C150209 and $293,589.46 for loan Contract C150l22 are <br />due on May 1,2008. You can combine these two loan payments into one annual payment of $651,430.02. The $357,840.56 <br />annual loan payment was calculated based on a final loan balance of $4,994,955.00 at 3.7% for 20-years, which includes a 1 % <br />loan service fee of $49,455.00. The loan service fee was based on your fmal cumulative loan balance of $4,945,500.00. The <br />$293,589.46 annual loan payment was calculated based on a fmalloan balance of $3,937,500.00 at 4.15% for 20-years. No loan <br />service fee was assessed for this loan. Please see the attached Loan Repayment Schedules and copies of the Promissory Notes. <br /> <br />In accordance with the Borrower's Liability Insurance Provision of the Contract, please note that the renewed insurance <br />certificates need to be provided to the Colorado Water Conservation Board annually. <br /> <br />It has been a pleasure of the Colorado Water Conservation Board to work with the Central Weld County Water District <br />on the successful completion of this project. Please call if you have any questions regarding this matter or if we can be of service <br />to you in the future. <br /> <br />Sincerely, , '" <br /> <br />"-R'p;J~ <br /> <br />Mike Serlet, P.E. <br />Chief, Water Supply Planning and Finance Section <br /> <br />cc. <br /> <br />Eric Wilkinson, CWCB Board Member <br />Water Supply Planning and Finance Section <br />Project file <br />Contract file <br /> <br />Contract C150209 <br />Expended Amount <br />Contract C150l22 <br />Expended Amount <br /> <br />= $4,994,955.00 <br />= $4,994,955.00 <br />= $3,937,500.00 <br />= $3,937,500.00 <br /> <br />Flood Protection. Water Supply Planning and! Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />