Laserfiche WebLink
<br />STATE OF COLORADO <br /> <br />~ <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 />June 18, 2008 <br /> <br />Bill Ritter Jr. <br />Governor <br /> <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT <br /> <br />Harris D. Sherman <br />DNR Executive <br />Director <br /> <br />Mr. Oran R. White, President <br />Mancos Valley Beaver Ditch Company <br />P.O. Box 308 <br />Mancos, CO 81328 <br /> <br />Jennifer L. Gimbel <br />CWCB Director <br /> <br />Re: Contract Number C 150 185 - Ditch Rehabilitation <br /> <br />Dan McAuliffe <br />CWCB Deputy <br />Director <br /> <br />Dear Mr. White: <br /> <br />This letter is to advise you that the work described in the above referenced Contract was substantially completed as of <br />May 1, 2008. <br /> <br />In accordance with the Contract, the Mancos Valley Beaver Ditch Company owed $32,749.22 for interest during <br />construction, as calculated on the attached spreadsheet. Payment in the amount of $32,749.22 for interest during construction was <br />received and was credited to your account on May 1, 2008. <br /> <br />As outlined in the Promissory Note, Appendix 2 of the Contract, your fIrst loan payment in the amount of$11,967.86 is <br />due on May 1, 2009. A principal payment of $540,452.45 (NRCS grant funds) was received and applied to your loan balance of <br />$790,943.36 on May 1, 2008. This payment resulted in a fInal loan balance of $250,490.91 that your annual payment is based on. <br />A 1 % loan origination fee of $7,831.00 was charged to your account. The origination fee was based on your highest construction <br />cumulative loan balance of $783,112.36. Vaughn McWilliams, our Contract Administrator, will be amending the Promissory <br />Note, contained as Appendix 2 of the Contract, to reflect the [mal contract loan amount. <br /> <br />In accordance with the Borrower's Liability Insurance Provision of the Contract, Paragraph A16, please note that the <br />renewed insurance certifIcates need to be provided to the Colorado Water Conservation Board annually. <br /> <br />It has been a pleasure of the Colorado Water Conservation Board to work with the Mancos Valley Beaver Ditch <br />Company on the successful completion of this project. Please call if you have any questions regarding this matter or if we can be <br />of service to you in the future. <br /> <br />~J~ <br /> <br />Mike Serlet, P.E. <br />Chief, Water Supply Planning and Finance Section <br /> <br />cc. Bruce Whitehead, CWCB Board Member <br />Water Supply Planning and Finance Section <br />Project file <br />Contract fIle <br /> <br />Contract Amount <br />Expended Amount <br />Final Amount <br /> <br />= $913,798.00 <br />= $790,943.36 <br />= $250,490.91 <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />