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the summer as soon as access is available. The Owner is already under a hardship due to a <br />filling restriction which effectively mandates zero storagP until mid-June. <br />CONCLUSIONS and �CONSTRUCTION LOAN APPLIGATION <br />It is our belief that the Bull Creek Reservoir No. 4 Rehabilitation and Enlargement project fits the <br />objectives of the CWCB revolving loan fund program. Specificatly: <br />1. The Bull Creek Reservoir, Canal and Power Company is incorporated in the State of <br />Colorado and is able to enter into a contract with the CWCB for the purpose of obtaining a <br />Construction Fund loan. <br />2. Property ownershi� and use agreements are adequate for the construction of this project. <br />3. The project would provide for the continued delivery of irrigation water to share holders. <br />4. The project would preserve highly senior water rights. <br />5. The total estimated cost of the project is $. 1.335 million. This will be financed with a <br />combination of shr�rt term loan(s) from a local bank, a long term loan from CWCB, and if <br />needed, a special assessment of the share holders. <br />6. The Reservoir Cornpany is eligible for a loan from the CWCB under existing lending policies <br />and practices of the CWCB. <br />7. The project is technically and financially feasible. <br />8. The project will insure continued irrigation of Colorado farmlands that have been under <br />cultivation for nearly 120 years. <br />Based on the above, we respectfully submit our request for a CWCB Construction Loan. <br />Appendix F includes the completed loan application. <br />Respectfully submitted on behalf of the Bull Creek Reservoir, Canal and Power Company, <br />WATER RESOURCE CONSULTANTS <br />�%,/!� �G�'�''� <br />Paul C. Currier, P.E. <br />Bull Creek Reservoir, Canal and Power Company <br />Bull Creek Reservoir No. 4, Feasibility Study <br />Nov. 30, 2006 <br />Page 13 of 13 <br />