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<br />STATE 'OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Shennan 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 />Harris D. Sherman <br />DNR Executive Director <br /> <br />Dennis Coryell, President <br />Republican River Water Conservation District <br />410 Main Street, Suite 8 <br />Wray, CO 80758 <br /> <br />Jennifer L. Gimbel <br />CWCB Director <br /> <br />Dan McAuliffe <br />CWCB Deputy Director <br /> <br />RE: Compact Compliance Pipeline Project Loan <br /> <br />Dear Mr. Coryell: <br /> <br />-, <br /> <br />I am pleased to inform you that on January 22,2008 the Colorado Water Conservation Board (CWCB) <br />recommended your loan to the General Assembly for approval. Your loan request will be included in <br />the 2008 Water Project Construction Bill. If approved, Loan funds will be authorized once the <br />Governor has signed the bill. The loan will be used to pay for water rights purchases, engineering and <br />construction ofthe Compact Compliance Pipeline Project. <br /> <br />The Board approved a loan not to exceed $60,600,000 ($60,000,000 for project costs and $600,000 for <br />the 1% Loan Service Fee) with loan terms of2.00% per annum for 20 years. I have attached a copy of <br />the updated Board memo that includes the Board's approval. <br /> <br />When the Board approves a loan there remain several conditions: <br /> <br />a) Loan Feasibility Study: Kirk Russell has reviewed the study titled "Loan Feasibility <br />Study for The Republican River Compact Compliance Pipeline, December, 2007". <br />Modifications may be requested by Mr. Russell via phone/fax or email in the next <br />couple days. The approved study, in combination with the CWCB Board Memo revised <br />January 28,2008, will meet the requirements of the CWCB Water Project Loan <br />Program Guidelines for loan feasibility studies. You can contact Kirk Russell at <br />(303)866.3449 regarding the status ofthe study. <br /> <br />b) Legislature Approval and Governor's Signature: The loan is included in the 2008 Water <br />Proj ects Bill. If the bill is approved and signed by the Governor with the Compact <br />Compliance Pipeline Project loan included, funds are available for disbursement <br />pending loan contract execution. <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 />