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<br />'-' <br />.... <br /> <br />STATE OF COL,()RADO <br /> <br />J <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 Ritter, Jr, <br />Governor <br /> <br />January 30, 2008 <br /> <br />HaITIS D, Sherman <br />DNR Executive Director <br /> <br />Matthew Reay, Town Administrator <br />Town of Bennett <br />355 Fourth Street <br />Bennett, Colorado 80102 <br /> <br />Jennifer L. Gimbel <br />CWCB Director <br /> <br />Dan McAuliffe <br />CWCB Deputy Director <br /> <br />RE: Well # 5 Replacement Loan <br /> <br />Dear Mr. Reay: <br /> <br />..1 I am pleased to inform you that on January 22,2008 the Colorado Water Conservation Board (CWCB) <br />approved your loan request for the re-drilling of Water Well #5, The Board approved a loan not to <br />exceed $252,500 ($250,000 for project costs and $2,500 for the 1% Loan Service Fee) with loan <br />terms of3.50% per annum for 30 years. I have attached a copy ofthe updated Board memo that <br />includes the Board's approval. <br /> <br />When the Board approves a loan there remain several conditions: <br /> <br />a) Loan Feasibility Study: Anna Mauss has reviewed the study titled "Town of Bennett <br />Feasibility Study for the CWCB Loan Application, November, 2007". Modifications <br />may be requested by Ms. Mauss via phone/fax or email in the next couple weeks. The <br />approved study, in combination with the CWCB Board Memo revised January 30, 2008, <br />will meet the requirements ofthe CWCB Water Project Loan Program Guidelines for <br />loan feasibility studies, <br /> <br />b) Contracting: An approved contract must be in place before funds can be disbursed. <br />Vaughn McWilliams will initiate the loan contracting process for this proj ect. When all <br />of the contract conditions are met and the contract is executed the District may request <br />loan funds to cover eligible project expenses, You can contact Vaughn at <br />(303)866.3462 regarding the requirements. <br /> <br />c) Design/Construction: You must adhere to the CWCB Design and Construction <br />Administration Procedures, Tim Feehan will contact you regarding this phase of the <br /> <br />Water Supply Protection. Watershed Protection & Flood Mitigation. Stream & Lake Protection. Water Supply Planning & Finance <br />Water Conservation & Drought Planning. Intrastate Water Management & Development <br />