Laserfiche WebLink
STATE OF COLORADO <br />Colorado Wa�er Conservation Boa:rd <br />Department of Nataral Resonrces <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 />January 29, 2007 <br />Irv Johnson, President <br />Bull Creek Reservoir•, Canal & Power Company <br />P. O. BOX 2S <br />Molina CO, 81646 <br />RE: Rehabilitation and Enlargement of Bull Creek Reservoir #4 Loan <br />Dear Mr. Johnson: <br />Bill Ritter, Jr. <br />Governor <br />Harris D. Sherman <br />Executive Director <br />Rod Kuharich <br />CWCB Director <br />Dan McAuliffe <br />Deputy Director <br />I am pleased to infornl you that on January 23, 2007 the Colorado Water Conservation Board (CWCB) <br />approved your loan request. We understand that the laan will be used to pay for engineering and <br />construction of the Re:habilitation and Enlargement of'Bull Creek Reservoir #4. <br />The Board approved a loan not to exceed $1,212,000 ($1,200,000 for project costs and $12,000 for the <br />1% Loan Service Fee) with loan terms of 2.50% per annum for 30 years. I have attached a copy of the <br />updated Board memo that includes the Board's approv�l. <br />When the Board approves a loan there remain several conditions: <br />a) Loan Feasibilit�tud� Kirk Russell has reviewed the study titled "Feasibility Study <br />and Construction Loan Application for ,the Rehabilitation and Enlargement of Bull <br />Creek Reservoir #4, November 30, 200E ". Modifications may be requested by Mr. <br />Russell via phone/fax or email in the ne�ct couple days. The approved study, in <br />combination with the CWCB Board Memo revised January 29, 2007, will meet the <br />requirements of the CWCB Construction Fund Guidelines for loan feasibility studies. <br />b) Contractin�: An approved contract must be in place before funds can be advanced. <br />Vaughn McWilliams will initiate the loan contracting process for this project. Once the <br />contract is finalized the Company may request loan funds to cover eligible proj ect <br />expenses. You can contact Vaughn at 303-866-3462 regarding the requirements. <br />Supplemental Contract conditions inclu.de the following: <br />Flood Protection • Water Supply Planning and Finance . Sh�eam and Lake Protection <br />Water Supply Protection • Conservation and Drought Planning <br />