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<br />, <br /> <br />ST A TE OF COLORADO <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 />PAX; (303) 8664474 <br />www.cwcb.state.co.us <br /> <br /> <br />September 24, 2007 <br /> <br />Bill Ritter, Jr. <br />Governor <br /> <br />Mr. Doug Dill, President <br />Bijou Irrigation Company <br />P.O. Box 972 <br />Fort Morgan, Colorado 80701 <br /> <br />Harris D. Sherman <br />Executive Director <br /> <br />Dan McAuliffe <br />Acting CWCB <br />Director <br /> <br />RE: Loan for Bijou Irrigation Company - Diversion Structure Rehabilitation <br /> <br />Dear Doug: <br /> <br />I am pleased to inform you that on September 19, 2007 the Colorado Water Conservation Board <br />(CWCB) approved your loan request. We understand that the loan will be used to rehabilitate the <br />Bijou Canal diversion structure on the South Platte River. The Board approved a loan in a maximum <br />amount $763,560 (including the 1 % loan service charge) with loan terms of2.25% per annum for 30 <br />years. I have attached a copy of the updated Board memo that includes a section "Action taken by <br />the CWCB on September 19,2007." <br /> <br />When the Board approves a loan there remain several conditions: <br /> <br />a) A Feasibility Study is required. Bruce Johnson has reviewed the study titled <br />"Feasibility of the Rehabilitation of the Bijou Irrigation Company Diversion Structure, <br />June 2007." No further action is required of you on this item. The report, in <br />combination with the CWCB board memo dated September 7, 2007 will meet the <br />requirements of the CWCB Water Project Loan Program Guidelines for feasibility <br />studies. <br /> <br />b) An approved contract must be in place before funds can be advanced. Vaughn <br />McWilliams will place this project on our contracting "hot list" and will initiate the loan <br />contracting process. Once the contract is fmalized the Company may request loan funds <br />to cover eligible project expenses. For future reference Vaughn's phone number is <br />303-866-3462. <br /> <br />c ) You must adhere to the CWCB Design and Construction Administration Procedures. <br />Tim Feehan will contact you regarding the CWCB requirements concerning project <br />bidding, design, and construction. Tim will make construction inspections, which will <br />be the basis of the monthly pay estimates for disbursement of your loan funds. Tim's <br />phone number is 303-866-3480. <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />