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<br />STATE 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:~03)866-3441 <br />FAX: (303) 866-4474 <br />www.cwcb.state.co.us <br /> <br /> <br />Bill Ritter Jr. <br />Governor <br /> <br />Harris d:$herman <br />Executive Director <br /> <br />April 1, 2008 <br /> <br />Jennifer L. Gimbel <br />CWCB Director <br /> <br />Mr. Mark Upton, President <br />Pinewood Springs Water District <br />183 Cree Court <br />Lyons, CO 80540 <br /> <br />Dan McAuliffe <br />ewCB Deputy <br />Director <br /> <br />Re: Pinewood Springs Water District- Loan Amendment Approval <br /> <br />Dear Mr. Upton: <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board approved your loan <br />request on March 19,2008. The Board approved an increase of $757,500($750,000 for project costs <br />and $7,500 for the 1 % loan service fee, in accordance with CWCB Policy No. 16) from the 2008 <br />Severance Tax Fund, for a new total amended loan amount of$2,8l1,689. The loan will be at an <br />interest rate of 4.0% for 30-years. I have attached a copy of the updated Board memo concerning the <br />Pinewood Springs Water District request. Please refer to page 6 of that memo and to the Section <br />"Action taken by the CWCB on March 19,2008". <br /> <br />The Board's approval was based on the District meeting the following conditions. <br /> <br />1. An approved contract must be in-place before loan funds can be advanced. Vaughn <br />McWilliams, with our office will be in contact with you to initiate this process. If you should <br />have any questions, Vaughn's phone number is 303-866-3462. <br /> <br />2. You must adhere to CWCB's Standard Contracting Provisions, and the additional contract <br />provisions as identified on page 6 of the attached memo.:. <br /> <br />3. The authorization will not commit the Colorado Water Conservation Board to provide any <br />further additional funding for the Pinewood Springs Water District System Rehabilitation <br />Project. <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />