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<br />'" :1 <br />$' ... <br /> <br />., <br />" <br /> <br />, <br /> <br />ST A TE OF COL()RAI)O <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 />February 20, 2003 <br /> <br />Bill Owens <br />Governor <br /> <br />The Honorable Robert D. Johnson, Mayor <br />Town ofPaonia <br />P. O. Box 460 <br />Paonia, Colorado 81428-0460 <br /> <br />Greg E, Walcher <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />RE: Loan to Purchase Water Rights/Water Taps <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Dear Mayor Johnson: <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (CWCB) approved your Small <br />Project Loan request on January 23, 2003. The loan is for the repurchase and retirenlent of 317 <br />unused out-of-town water taps associated with the Ark Land Property, in order to r~~duce demand <br />and make the Town's water supply more reliable. ' <br /> <br />The Board approved a Small Project Loan from the Construction Fund in a mailCimum amount of <br />$1,000,000, with loan terms of3.75% per annum for 30 years. I have attached a cbpy of the updated <br />, <br />Board memo that includes a section "Action taken by the CWCB on January 23, 2~)03." Please note <br />the added approval condition that requires the Town to submit proof that all of the eWCB loan funds <br />will be used exclusively to purchase the water taps. <br /> <br />When the Board approves a loan there remain several conditions: <br /> <br />a) A Feasibi1itv Study is required. Bruce Johnson has reviewed the. preliminary study <br />titled "Feasibility Report for Improving the Water Supply System for the Town of <br />Paonia - June 2002. " Please work with Bruce on the minor revIsions necessary to <br />I <br />finalize this report to reflect revised project financing. This report, iIi combination with <br />the CWCB board memo dated January 10, 2003 will meet the r~quirements of the <br />CWCB Construction Fund Guidelines for feasibility studies. ' <br /> <br />b) An approved contract must be in place before funds can be advanced. J an lllian will <br />place this project on our contracting "hot list" and will initiate th~ loan contracting <br />process. Once the contract is finalized the Company may request 1pan funds to cover <br />eligible project expenses. For future reference Jan's phone number ~s 303-866-3462. <br /> <br />c ) You must adhere to the CWCB Design and Construction Administration Procedures. <br />Tim Feehan will contact you regarding the CWCB requirements concerning project <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />